Municipal Employees Retirement System of Michigan held its stake in Phillips 66 (NYSE:PSX) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,970 shares of the oil and gas company’s stock at the end of the first quarter. Municipal Employees Retirement System of Michigan’s holdings in Phillips 66 were worth $1,741,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Winch Advisory Services LLC increased its stake in Phillips 66 by 5,872.7% in the first quarter. Winch Advisory Services LLC now owns 1,314 shares of the oil and gas company’s stock worth $104,000 after buying an additional 1,292 shares during the last quarter. FTB Advisors Inc. increased its stake in Phillips 66 by 17.3% in the first quarter. FTB Advisors Inc. now owns 1,444 shares of the oil and gas company’s stock worth $113,000 after buying an additional 213 shares during the last quarter. Barrett Asset Management LLC increased its stake in Phillips 66 by 2.9% in the first quarter. Barrett Asset Management LLC now owns 1,762 shares of the oil and gas company’s stock worth $140,000 after buying an additional 50 shares during the last quarter. Quadrant Capital Group LLC increased its stake in Phillips 66 by 3.1% in the first quarter. Quadrant Capital Group LLC now owns 2,048 shares of the oil and gas company’s stock worth $153,000 after buying an additional 61 shares during the last quarter. Finally, Tompkins Financial Corp increased its stake in Phillips 66 by 169.0% in the first quarter. Tompkins Financial Corp now owns 2,093 shares of the oil and gas company’s stock worth $181,000 after buying an additional 1,315 shares during the last quarter. Institutional investors and hedge funds own 69.09% of the company’s stock.

Shares of Phillips 66 (NYSE:PSX) opened at 82.85 on Friday. The company has a market capitalization of $42.76 billion, a PE ratio of 25.71 and a beta of 1.23. Phillips 66 has a 1-year low of $73.82 and a 1-year high of $88.87. The company has a 50 day moving average price of $80.48 and a 200 day moving average price of $79.79.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 28th. The oil and gas company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.53. The firm had revenue of $23.71 billion for the quarter, compared to analysts’ expectations of $22.30 billion. Phillips 66 had a net margin of 1.86% and a return on equity of 5.98%. During the same period in the prior year, the company earned $0.67 EPS. Equities analysts predict that Phillips 66 will post $3.98 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued a dividend of $0.70 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 annualized dividend and a yield of 3.38%. Phillips 66’s payout ratio is 86.96%.

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A number of research firms have weighed in on PSX. BidaskClub upgraded Phillips 66 from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Scotiabank restated a “hold” rating and set a $86.00 price target on shares of Phillips 66 in a research report on Tuesday, June 27th. TheStreet upgraded Phillips 66 from a “c” rating to a “b-” rating in a research report on Friday, June 30th. Jefferies Group LLC set a $74.00 price target on Phillips 66 and gave the company a “hold” rating in a research report on Saturday, June 3rd. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $88.00 price objective on shares of Phillips 66 in a research note on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $84.12.

About Phillips 66

Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.

Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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