Phillips 66 (NYSE:PSX) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its holdings in Phillips 66 (NYSE:PSX - Free Report) by 9.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 697,807 shares of the oil and gas company's stock after selling 72,025 shares during the period. California Public Employees Retirement System owned 0.17% of Phillips 66 worth $79,501,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. NewEdge Wealth LLC grew its holdings in Phillips 66 by 0.5% in the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company's stock valued at $1,732,000 after purchasing an additional 81 shares during the period. JBR Co Financial Management Inc grew its stake in shares of Phillips 66 by 0.9% during the 4th quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company's stock valued at $1,085,000 after buying an additional 85 shares during the period. Nwam LLC increased its holdings in shares of Phillips 66 by 2.2% during the 4th quarter. Nwam LLC now owns 3,876 shares of the oil and gas company's stock worth $442,000 after buying an additional 85 shares during the last quarter. Webster Bank N. A. raised its position in shares of Phillips 66 by 48.4% in the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company's stock worth $31,000 after buying an additional 88 shares during the period. Finally, PFG Private Wealth Management LLC boosted its holdings in Phillips 66 by 7.7% in the fourth quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company's stock valued at $140,000 after acquiring an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Remove Ads

Phillips 66 Stock Down 13.6 %

PSX traded down $16.91 on Thursday, reaching $107.15. The company's stock had a trading volume of 6,783,576 shares, compared to its average volume of 2,794,287. Phillips 66 has a 1 year low of $106.73 and a 1 year high of $174.08. The business's 50 day moving average is $125.02 and its 200 day moving average is $125.48. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The stock has a market cap of $43.69 billion, a price-to-earnings ratio of 21.69, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX - Get Free Report) last released 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 firm earned $3.09 EPS. As a group, research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 4.29%. The ex-dividend date was Monday, February 24th. Phillips 66's payout ratio is currently 93.12%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PSX shares. Mizuho dropped their price target on Phillips 66 from $150.00 to $147.00 and set a "neutral" rating for the company in a research note on Monday, December 16th. Wells Fargo & Company increased their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. The Goldman Sachs Group cut shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price target on the stock. in a research report on Thursday, March 27th. Barclays increased their price objective on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. Finally, Piper Sandler lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Phillips 66 presently has an average rating of "Moderate Buy" and a consensus price target of $146.43.

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.