California State Teachers Retirement System Trims Stake in Phillips 66 $PSX

California State Teachers Retirement System lowered its position in Phillips 66 (NYSE:PSX) by 3.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 467,419 shares of the oil and gas company’s stock after selling 15,380 shares during the period. California State Teachers Retirement System’s holdings in Phillips 66 were worth $85,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. NFSG Corp lifted its stake in shares of Phillips 66 by 105.6% during the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Accordant Advisory Group Inc grew its position in 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 valued at $26,000 after acquiring an additional 180 shares during the last quarter. SWAN Capital LLC grew its position in Phillips 66 by 1,055.6% in the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 190 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in Phillips 66 in the fourth quarter worth $27,000. Finally, Dorato Capital Management purchased a new stake in Phillips 66 in the fourth quarter worth $35,000. Institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PSX. Wall Street Zen raised shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a research note on Sunday. UBS Group raised their price target on shares of Phillips 66 from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday. Argus lifted their price objective on shares of Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Barclays boosted their price objective on shares of Phillips 66 from $177.00 to $183.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Finally, The Goldman Sachs Group upped their target price on shares of Phillips 66 from $207.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and an average price target of $201.72.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 29,400 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $170.00, for a total value of $4,998,000.00. Following the sale, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $16,553,920. This trade represents a 23.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kevin Omar Meyers purchased 175 shares of the stock in a transaction dated Wednesday, May 6th. The stock was purchased at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the acquisition, the director directly owned 16,799 shares in the company, valued at approximately $2,908,242.88. This represents a 1.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 45,107 shares of company stock worth $8,057,584 over the last quarter. Insiders own 0.40% of the company’s stock.

Phillips 66 Stock Up 0.5%

Shares of NYSE PSX opened at $206.97 on Thursday. Phillips 66 has a 12-month low of $118.07 and a 12-month high of $216.08. The stock’s fifty day simple moving average is $184.11 and its two-hundred day simple moving average is $169.90. The stock has a market capitalization of $82.98 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 0.16 and a beta of 0.69. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping the consensus estimate of ($0.54) by $1.03. The firm had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.90) EPS. As a group, analysts expect that Phillips 66 will post 22.43 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 2.5%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s payout ratio is 50.05%.

Phillips 66 News Roundup

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Energy-sector momentum: Energy stocks rallied late Wednesday, with the NYSE Energy Sector Index rising 2.3%, providing a favorable backdrop for refiners such as Phillips 66. Sector Update: Energy Stocks Gain Late Afternoon
• Positive Sentiment: Refining margins remain supportive: Iran-related supply disruptions and record crack spreads are improving the earnings outlook for U.S. refiners. Phillips 66 has also benefited from better recent results, shareholder returns and a quarterly dividend of $1.27, or $5.08 annualized. Phillips 66 Gains On Refining Strength, Is The Stock Fully Priced?
• Positive Sentiment: Potential asset-sale proceeds: Phillips 66 and Shell are reportedly considering selling their stakes in Explorer, which owns a major refined-products pipeline valued at approximately $3.5 billion. A transaction could unlock value and strengthen PSX’s balance sheet, although no deal is confirmed. Shell, Phillips 66 weigh sale of stakes in $3.5 billion US pipeline Explorer

Phillips 66 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.