Maryland State Retirement & Pension System Has $2.51 Million Stake in Phillips 66 (NYSE:PSX)

Maryland State Retirement & Pension System cut its stake in Phillips 66 (NYSE:PSX - Free Report) by 9.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,043 shares of the oil and gas company's stock after selling 2,221 shares during the period. Maryland State Retirement & Pension System's holdings in Phillips 66 were worth $2,511,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in shares of Phillips 66 by 7.3% in the fourth 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. Amundi grew its position in Phillips 66 by 25.7% in the fourth quarter. Amundi now owns 3,682,414 shares of the oil and gas company's stock valued at $428,081,000 after purchasing an additional 753,653 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Phillips 66 by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,002,995 shares of the oil and gas company's stock valued at $342,131,000 after buying an additional 101,108 shares during the last quarter. Bank of Montreal Can lifted its position in Phillips 66 by 63.4% during the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company's stock worth $214,120,000 after buying an additional 633,970 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Phillips 66 during the 4th quarter worth about $168,790,000. Institutional investors own 76.93% of the company's stock.

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Phillips 66 Stock Performance

Shares of PSX stock traded down $1.04 during midday trading on Tuesday, hitting $125.43. 2,331,822 shares of the company were exchanged, compared to its average volume of 2,621,304. Phillips 66 has a 52 week low of $108.91 and a 52 week high of $174.08. The firm has a market capitalization of $51.14 billion, a P/E ratio of 25.39, a PEG ratio of 4.84 and a beta of 1.31. The firm's 50 day moving average price is $124.32 and its two-hundred day moving average price is $125.58. 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 issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period in the prior year, the firm posted $3.09 EPS. As a group, equities research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Monday, February 24th. Phillips 66's dividend payout ratio is currently 93.12%.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of recent research reports. 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. Barclays boosted their price target on Phillips 66 from $115.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. Mizuho cut their price objective on Phillips 66 from $150.00 to $147.00 and set a "neutral" rating for the company in a report on Monday, December 16th. Wolfe Research upgraded shares of Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 target price on the stock in a report on Friday, January 3rd. Finally, Piper Sandler lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $147.54.

About Phillips 66

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.