Teachers Retirement System of The State of Kentucky Sells 4,011 Shares of Phillips 66 (NYSE:PSX)

Teachers Retirement System of The State of Kentucky trimmed its holdings in Phillips 66 (NYSE:PSX) by 1.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 259,268 shares of the oil and gas company’s stock after selling 4,011 shares during the period. Teachers Retirement System of The State of Kentucky owned 0.06% of Phillips 66 worth $36,601,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in PSX. Crewe Advisors LLC acquired a new stake in Phillips 66 during the first quarter worth about $25,000. Keener Financial Planning LLC bought a new position in Phillips 66 in the first quarter valued at approximately $26,000. Strategic Financial Concepts LLC bought a new position in Phillips 66 in the second quarter valued at approximately $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in Phillips 66 during the fourth quarter worth $27,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of Phillips 66 in the 1st quarter valued at $28,000. 76.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. TD Cowen decreased their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. JPMorgan Chase & Co. dropped their price objective on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Wells Fargo & Company boosted their target price on shares of Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Raymond James upped their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, Barclays raised their price objective on Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and an average target price of $154.21.

Phillips 66 Stock Performance

Shares of PSX stock opened at $131.45 on Tuesday. The stock has a market capitalization of $55.73 billion, a PE ratio of 10.11, a PEG ratio of 5.22 and a beta of 1.33. The business’s 50 day simple moving average is $134.13 and its 200 day simple moving average is $142.78. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. Phillips 66 has a one year low of $107.85 and a one year high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. The company had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.87 EPS. As a group, research analysts forecast that Phillips 66 will post 8.27 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend was Tuesday, August 20th. Phillips 66’s dividend payout ratio is 35.38%.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.