Phillips 66 (NYSE:PSX) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its stake in shares of Phillips 66 (NYSE:PSX) by 24.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 101,654 shares of the oil and gas company’s stock after selling 33,615 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Phillips 66 were worth $13,534,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC lifted its stake in shares of Phillips 66 by 134.8% during the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 151 shares during the period. Bruce G. Allen Investments LLC purchased a new position in Phillips 66 during the fourth quarter worth approximately $36,000. West Branch Capital LLC boosted its holdings in shares of Phillips 66 by 49.5% in the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 91 shares during the last quarter. Bell Investment Advisors Inc boosted its holdings in shares of Phillips 66 by 82.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 138 shares during the last quarter. Finally, Headinvest LLC acquired a new position in shares of Phillips 66 in the 3rd quarter valued at $51,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Shares of NYSE:PSX traded up $1.00 during trading on Tuesday, reaching $158.05. The company had a trading volume of 543,832 shares, compared to its average volume of 2,961,942. The firm’s fifty day moving average is $154.65 and its 200 day moving average is $135.96. The firm has a market capitalization of $67.62 billion, a PE ratio of 10.15, a price-to-earnings-growth ratio of 1.92 and a beta of 1.37. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. The company had revenue of $38.74 billion during the quarter, compared to analyst estimates of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. On average, equities analysts forecast that Phillips 66 will post 13.45 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a $1.15 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Friday, May 17th. Phillips 66’s payout ratio is presently 27.15%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PSX. Scotiabank lifted their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Raymond James raised their target price on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Mizuho cut their target price on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Bank of America raised their target price on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Finally, StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th. Five 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, the company has a consensus rating of “Moderate Buy” and an average price target of $158.00.

Insider Buying and Selling

In related news, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the sale, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,036,164.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Phillips 66 news, Director Robert W. Pease bought 682 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was bought at an average cost of $146.58 per share, with a total value of $99,967.56. Following the completion of the transaction, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $278,502. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The disclosure for this sale can be found here. Insiders have sold 35,056 shares of company stock worth $5,272,681 in the last ninety days. 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.