Phillips 66 (NYSE:PSX) Stake Raised by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 35.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 351,186 shares of the oil and gas company’s stock after buying an additional 91,918 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Phillips 66 were worth $46,163,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Strategic Financial Concepts LLC acquired a new position in shares of Phillips 66 during the 2nd quarter valued at $26,000. nVerses Capital LLC acquired a new stake in Phillips 66 in the 3rd quarter valued at about $26,000. Values First Advisors Inc. bought a new position in shares of Phillips 66 during the 3rd quarter valued at about $30,000. Kings Path Partners LLC acquired a new position in shares of Phillips 66 in the 2nd quarter worth approximately $38,000. Finally, Industrial Alliance Investment Management Inc. bought a new stake in shares of Phillips 66 in the 2nd quarter worth approximately $40,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Trading Down 3.5 %

Shares of Phillips 66 stock opened at $125.59 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company’s fifty day moving average price is $130.81 and its two-hundred day moving average price is $134.30. Phillips 66 has a 52-week low of $119.77 and a 52-week high of $174.08. The firm has a market capitalization of $51.87 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 4.24 and a beta of 1.35.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.63 by $0.41. The business had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. Phillips 66’s revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $4.63 EPS. On average, analysts expect that Phillips 66 will post 7.59 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were paid a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.66%. Phillips 66’s dividend payout ratio (DPR) is currently 59.05%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PSX shares. TD Cowen decreased their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Barclays decreased their target price on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Morgan Stanley decreased their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a research note on Thursday, October 17th. Finally, Mizuho dropped their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and a consensus target price of $149.23.

Phillips 66 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.