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

Illinois Municipal Retirement Fund lowered its holdings in Phillips 66 (NYSE:PSX - Free Report) by 40.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,617 shares of the oil and gas company's stock after selling 35,072 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Phillips 66 were worth $5,881,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of PSX. Mizuho Securities USA LLC boosted its stake in Phillips 66 by 7,549.0% during the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company's stock worth $328,625,000 after buying an additional 2,467,316 shares during the period. ING Groep NV boosted its position in shares of Phillips 66 by 123.2% during the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company's stock worth $155,503,000 after purchasing an additional 653,032 shares during the period. Bank of New York Mellon Corp increased its holdings in Phillips 66 by 7.3% in the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company's stock valued at $1,064,601,000 after purchasing an additional 639,323 shares during the last quarter. Bank of Montreal Can increased its holdings in Phillips 66 by 63.4% in the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company's stock valued at $214,120,000 after purchasing an additional 633,970 shares during the last quarter. Finally, Mizuho Markets Americas LLC purchased a new stake in Phillips 66 in the third quarter valued at approximately $70,983,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Phillips 66 Stock Up 1.9 %

Shares of NYSE:PSX traded up $2.40 during trading hours on Friday, reaching $129.81. The stock had a trading volume of 5,739,901 shares, compared to its average volume of 3,654,164. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. The firm's 50 day moving average is $120.60 and its 200-day moving average is $126.80. The stock has a market capitalization of $52.92 billion, a price-to-earnings ratio of 26.28, a P/E/G ratio of 4.84 and a beta of 1.37. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the previous year, the business posted $3.09 earnings per share. Research analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Monday, February 24th. Phillips 66's dividend payout ratio (DPR) is presently 93.12%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PSX shares. UBS Group dropped their price objective on Phillips 66 from $150.00 to $138.00 and set a "buy" rating for the company in a research note on Monday, November 4th. Wells Fargo & Company lifted their target price on Phillips 66 from $161.00 to $162.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Wolfe Research raised shares of Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price target on the stock in a research report on Friday, January 3rd. Barclays dropped their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an "equal weight" rating for the company in a report on Monday, January 13th. Finally, StockNews.com downgraded shares of Phillips 66 from a "hold" rating to a "sell" rating in a research note on Sunday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $148.00.

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.