Public Employees Retirement System of Ohio Reduces Holdings in Phillips 66 (NYSE:PSX)

Public Employees Retirement System of Ohio decreased its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 2.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 198,186 shares of the oil and gas company's stock after selling 4,115 shares during the period. Public Employees Retirement System of Ohio's holdings in Phillips 66 were worth $26,052,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted 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 worth $1,189,035,000 after acquiring an additional 402,925 shares during the last quarter. Legal & General Group Plc lifted its stake in 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 worth $522,240,000 after purchasing an additional 18,238 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Phillips 66 by 3.2% in the 2nd 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 in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Phillips 66 by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company's stock valued at $381,453,000 after purchasing an additional 16,941 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Phillips 66 by 2.9% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,813,579 shares of the oil and gas company's stock valued at $397,193,000 after buying an additional 79,301 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

Shares of PSX traded down $4.49 during mid-day trading on Tuesday, reaching $125.59. The company had a trading volume of 3,124,098 shares, compared to its average volume of 2,661,797. Phillips 66 has a 52-week low of $119.77 and a 52-week high of $174.08. The stock has a market capitalization of $51.87 billion, a P/E ratio of 16.12, a PEG ratio of 4.24 and a beta of 1.35. The stock has a 50 day moving average of $130.81 and a two-hundred day moving average of $134.30. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company had revenue of $36.16 billion during the quarter, compared to analysts' expectations of $36.31 billion. During the same period in the prior year, the business posted $4.63 earnings per share. The firm's revenue for the quarter was down 10.3% on a year-over-year basis. On average, analysts expect that Phillips 66 will post 7.59 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were paid a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.66%. Phillips 66's dividend payout ratio (DPR) is presently 59.05%.

Analysts Set New Price Targets

A number of brokerages have commented on PSX. Bank of America initiated coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They set a "buy" rating and a $156.00 price target on the stock. UBS Group reduced their target price on shares of Phillips 66 from $150.00 to $138.00 and set a "buy" rating on the stock in a report on Monday, November 4th. Piper Sandler set a $144.00 price target on shares of Phillips 66 in a research note on Thursday, October 17th. TD Cowen dropped their target price on shares of Phillips 66 from $162.00 to $150.00 and set a "buy" rating on the stock in a report on Wednesday, September 11th. Finally, Barclays decreased their price target on shares of Phillips 66 from $133.00 to $124.00 and set an "equal weight" rating for the company in a research note on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $149.23.

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.