New York State Teachers Retirement System Has $60.30 Million Position in Phillips 66 $PSX

New York State Teachers Retirement System lifted its stake in Phillips 66 (NYSE:PSX) by 8.1% in the 1st quarter, Holdings Channel reports. The institutional investor owned 331,005 shares of the oil and gas company’s stock after acquiring an additional 24,899 shares during the period. New York State Teachers Retirement System’s holdings in Phillips 66 were worth $60,302,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Board of the Pension Protection Fund acquired a new position in Phillips 66 in the 4th quarter valued at approximately $26,000. Accordant Advisory Group Inc lifted its position in shares of Phillips 66 by 900.0% in the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 180 shares during the period. SWAN Capital LLC grew its holdings in shares of Phillips 66 by 1,055.6% during the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 190 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Phillips 66 during the fourth quarter valued at approximately $27,000. Finally, Stephens Consulting LLC increased its position in shares of Phillips 66 by 67.7% during the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 90 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Phillips 66

In other news, Director Kevin Omar Meyers purchased 175 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased at an average cost of $173.12 per share, with a total value of $30,296.00. Following the acquisition, the director directly owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kevin J. Mitchell sold 600 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $171.56, for a total transaction of $102,936.00. Following the completion of the transaction, the chief financial officer owned 97,376 shares in the company, valued at approximately $16,705,826.56. This trade represents a 0.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.40% of the stock is currently owned by insiders.

Phillips 66 Price Performance

Phillips 66 stock opened at $176.40 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The company has a market capitalization of $70.72 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 0.24 and a beta of 0.69. Phillips 66 has a one year low of $118.07 and a one year high of $190.61. The business has a 50 day simple moving average of $174.43 and a 200 day simple moving average of $161.15.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $35.86 billion. During the same period in the prior year, the business posted ($0.90) earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts forecast that Phillips 66 will post 19.27 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were paid a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Monday, May 18th. Phillips 66’s payout ratio is currently 50.05%.

Analyst Ratings Changes

Several brokerages recently commented on PSX. JPMorgan Chase & Co. raised their target price on Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. Scotiabank boosted their price target on shares of Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Argus increased their price objective on shares of Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. The Goldman Sachs Group raised their price objective on shares of Phillips 66 from $192.00 to $207.00 and gave the stock a “neutral” rating in a report on Tuesday, May 19th. Finally, Morgan Stanley lifted their target price on shares of Phillips 66 from $180.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $192.72.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.