New York State Common Retirement Fund Sells 54,600 Shares of Phillips 66 (NYSE:PSX)

New York State Common Retirement Fund trimmed its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 10.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 451,277 shares of the oil and gas company's stock after selling 54,600 shares during the quarter. New York State Common Retirement Fund owned about 0.11% of Phillips 66 worth $59,320,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PSX. Vanguard Group Inc. boosted its stake in Phillips 66 by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company's stock valued at $6,741,218,000 after purchasing an additional 1,578,669 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Phillips 66 by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company's stock valued at $1,189,035,000 after acquiring an additional 402,925 shares during the last quarter. Boston Partners grew its stake in shares of Phillips 66 by 41.4% in the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company's stock worth $889,214,000 after acquiring an additional 1,595,722 shares during the period. Legal & General Group Plc raised its holdings in shares of Phillips 66 by 0.5% during the second quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company's stock valued at $522,240,000 after purchasing an additional 18,238 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Phillips 66 by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company's stock worth $514,253,000 after purchasing an additional 111,261 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Price Performance

Shares of Phillips 66 stock traded down $1.81 during trading hours on Friday, hitting $120.01. The company's stock had a trading volume of 2,064,468 shares, compared to its average volume of 2,135,708. The company has a market cap of $49.56 billion, a PE ratio of 15.41, a PEG ratio of 3.92 and a beta of 1.33. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.79 and a current ratio of 1.21. The business has a 50 day moving average price of $131.27 and a two-hundred day moving average price of $137.67. Phillips 66 has a 12-month low of $110.54 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.41. The company had revenue of $36.16 billion for the quarter, compared to analysts' expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm's revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.63 EPS. Analysts expect that Phillips 66 will post 7.77 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date is Monday, November 18th. Phillips 66's dividend payout ratio (DPR) is 59.05%.

Insider Activity

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the firm's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.22% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Raymond James raised their price target on Phillips 66 from $150.00 to $155.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 31st. Barclays reduced their price target on shares of Phillips 66 from $138.00 to $133.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 8th. Morgan Stanley dropped their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an "equal weight" rating on the stock in a report on Monday, September 16th. Scotiabank reduced their target price on shares of Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating for the company in a report on Thursday, October 10th. Finally, Mizuho dropped their price target on shares of Phillips 66 from $154.00 to $150.00 and set a "neutral" rating on the stock in a research note on Monday, September 16th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $151.42.

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.