Public Employees Retirement System of Ohio Has $29.36 Million Stock Position in Phillips 66 (NYSE:PSX)

Public Employees Retirement System of Ohio lowered its stake in shares of Phillips 66 (NYSE:PSX) by 10.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 179,717 shares of the oil and gas company’s stock after selling 21,051 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Phillips 66 were worth $29,355,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Crewe Advisors LLC bought a new stake in shares of Phillips 66 during the first quarter worth about $25,000. Keener Financial Planning LLC bought a new stake in shares of Phillips 66 during the first quarter worth about $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Phillips 66 during the first quarter worth about $28,000. Ruedi Wealth Management Inc. increased its position in shares of Phillips 66 by 102.1% during the first quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 96 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in shares of Phillips 66 during the fourth quarter worth about $27,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Raymond James decreased their target price on shares of Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. Argus reaffirmed a “buy” rating and issued a $167.00 price objective on shares of Phillips 66 in a research report on Thursday, May 30th. Wolfe Research initiated coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Mizuho reduced their price objective on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Finally, Piper Sandler reduced their price objective on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and an average target price of $158.23.

Phillips 66 Stock Performance

PSX traded down $1.78 during midday trading on Monday, reaching $140.43. The company had a trading volume of 1,379,101 shares, compared to its average volume of 2,661,506. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The stock has a market cap of $59.54 billion, a PE ratio of 10.80, a P/E/G ratio of 2.36 and a beta of 1.34. Phillips 66 has a 12-month low of $107.41 and a 12-month high of $174.08. The business has a 50-day moving average price of $139.14 and a two-hundred day moving average price of $145.59.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The business had revenue of $36.44 billion for the quarter, compared to analysts’ expectations of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same quarter in the previous year, the company posted $4.21 earnings per share. On average, sell-side analysts expect that Phillips 66 will post 10.06 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Tuesday, August 20th. Phillips 66’s payout ratio is currently 35.38%.

Insider Activity at Phillips 66

In related news, EVP Timothy D. Roberts sold 37,742 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the sale, the executive vice president now directly owns 48,365 shares in the company, valued at approximately $7,051,617. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is currently 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.