Phillips 66 (NYSE:PSX) Position Lessened by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its stake in Phillips 66 (NYSE:PSX) by 1.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 34,647 shares of the oil and gas company’s stock after selling 545 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Phillips 66 were worth $4,613,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Private Advisor Group LLC lifted its position in shares of Phillips 66 by 9.6% during the 4th quarter. Private Advisor Group LLC now owns 45,594 shares of the oil and gas company’s stock worth $6,070,000 after purchasing an additional 3,981 shares during the last quarter. Summit Trail Advisors LLC boosted its holdings in shares of Phillips 66 by 12.3% in the 4th quarter. Summit Trail Advisors LLC now owns 2,865 shares of the oil and gas company’s stock worth $381,000 after acquiring an additional 313 shares in the last quarter. Nkcfo LLC boosted its holdings in shares of Phillips 66 by 42.2% in the 4th quarter. Nkcfo LLC now owns 77,500 shares of the oil and gas company’s stock worth $10,318,000 after acquiring an additional 23,000 shares in the last quarter. Valley Brook Capital Group Inc. boosted its holdings in shares of Phillips 66 by 3.3% in the 4th quarter. Valley Brook Capital Group Inc. now owns 6,639 shares of the oil and gas company’s stock worth $884,000 after acquiring an additional 212 shares in the last quarter. Finally, Avidian Wealth Solutions LLC boosted its holdings in shares of Phillips 66 by 3.1% in the 4th quarter. Avidian Wealth Solutions LLC now owns 4,575 shares of the oil and gas company’s stock worth $609,000 after acquiring an additional 136 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

NYSE:PSX traded up $0.38 during mid-day trading on Tuesday, reaching $145.50. The stock had a trading volume of 1,266,310 shares, compared to its average volume of 2,927,696. The stock has a 50-day simple moving average of $155.49 and a two-hundred day simple moving average of $138.56. The stock has a market capitalization of $61.68 billion, a PE ratio of 11.16, a P/E/G ratio of 1.82 and a beta of 1.41. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The company had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same period in the previous year, the firm posted $4.21 EPS. On average, equities analysts anticipate that Phillips 66 will post 13.17 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is 32.31%.

Wall Street Analyst Weigh In

PSX has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. JPMorgan Chase & Co. increased their price target on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Bank of America increased their price target on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. StockNews.com downgraded Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday. Finally, The Goldman Sachs Group upped their price objective on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $157.43.

Insider Transactions at Phillips 66

In other news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the transaction, the executive vice president now owns 24,941 shares in the company, valued at $3,648,120.07. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP Joseph Scott Pruitt sold 5,922 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the transaction, the vice president now owns 6,583 shares in the company, valued at $1,036,164.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,056 shares of company stock worth $5,272,681. Company insiders own 0.22% of the company’s stock.

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.