Phillips 66 (NYSE:PSX) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky cut its stake in Phillips 66 (NYSE:PSX - Free Report) by 41.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 204,875 shares of the oil and gas company's stock after selling 146,311 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Phillips 66 were worth $23,341,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Bogart Wealth LLC raised its stake in Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 120 shares during the period. J.Safra Asset Management Corp acquired a new stake in shares of Phillips 66 during the 4th quarter worth approximately $25,000. Stephens Consulting LLC raised its position in shares of Phillips 66 by 83.5% during the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company's stock valued at $28,000 after buying an additional 111 shares during the period. Graney & King LLC acquired a new position in Phillips 66 in the fourth quarter valued at approximately $28,000. Finally, Human Investing LLC purchased a new position in Phillips 66 in the fourth quarter worth approximately $30,000. Hedge funds and other institutional investors own 76.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PSX shares. StockNews.com lowered Phillips 66 from a "hold" rating to a "sell" rating in a research note on Sunday, March 2nd. Piper Sandler lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 10th. 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 note on Friday, January 3rd. Raymond James lowered their price objective on shares of Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Finally, Mizuho dropped their target price on shares of Phillips 66 from $140.00 to $132.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $142.00.

Phillips 66 Stock Up 1.9 %

NYSE PSX traded up $1.90 on Wednesday, hitting $102.80. 3,055,099 shares of the stock were exchanged, compared to its average volume of 2,901,840. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $158.38. The company has a 50-day moving average price of $116.80 and a 200-day moving average price of $121.67. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a market cap of $41.88 billion, a PE ratio of 20.81, a PEG ratio of 4.84 and a beta of 1.17.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates 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 quarter in the previous year, the firm earned $3.09 earnings per share. Sell-side analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.67%. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date is Monday, May 19th. Phillips 66's payout ratio is 93.12%.

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.