Teachers Retirement System of The State of Kentucky Sells 8,520 Shares of Phillips 66 $PSX

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of Phillips 66 (NYSE:PSX) by 3.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 227,221 shares of the oil and gas company’s stock after selling 8,520 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Phillips 66 were worth $30,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of PSX. Focus Partners Advisor Solutions LLC grew its stake in Phillips 66 by 164.6% in the 3rd quarter. Focus Partners Advisor Solutions LLC now owns 31,009 shares of the oil and gas company’s stock valued at $4,282,000 after buying an additional 19,288 shares during the last quarter. Riverview Capital Advisers LLC boosted its holdings in shares of Phillips 66 by 1.1% during the third quarter. Riverview Capital Advisers LLC now owns 21,473 shares of the oil and gas company’s stock worth $2,921,000 after acquiring an additional 225 shares during the period. Kingsview Wealth Management LLC boosted its holdings in shares of Phillips 66 by 50.4% during the third quarter. Kingsview Wealth Management LLC now owns 64,042 shares of the oil and gas company’s stock worth $8,711,000 after acquiring an additional 21,458 shares during the period. Paragon Capital Management LLC grew its position in shares of Phillips 66 by 1.3% in the third quarter. Paragon Capital Management LLC now owns 13,292 shares of the oil and gas company’s stock valued at $1,808,000 after purchasing an additional 168 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Phillips 66 by 21.5% during the third quarter. Fisher Asset Management LLC now owns 9,381 shares of the oil and gas company’s stock worth $1,276,000 after purchasing an additional 1,661 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PSX. The Goldman Sachs Group boosted their price target on Phillips 66 from $152.00 to $164.00 and gave the company a “neutral” rating in a research note on Thursday, January 22nd. Jefferies Financial Group reissued a “hold” rating and set a $158.00 target price on shares of Phillips 66 in a report on Friday, February 20th. Barclays set a $158.00 price target on shares of Phillips 66 in a research note on Friday, February 20th. Mizuho lifted their price objective on shares of Phillips 66 from $150.00 to $152.00 and gave the stock a “neutral” rating in a research note on Monday, January 12th. Finally, UBS Group restated a “buy” rating and set a $172.00 target price on shares of Phillips 66 in a research report on Friday, February 6th. Eleven analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Hold” and an average target price of $160.11.

Insider Buying and Selling at Phillips 66

In other news, EVP Don Baldridge sold 7,500 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the executive vice president owned 38,488 shares of the company’s stock, valued at approximately $6,158,080. The trade was a 16.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total value of $659,100.00. Following the sale, the executive vice president owned 25,799 shares of the company’s stock, valued at approximately $3,869,850. This represents a 14.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 16,288 shares of company stock worth $2,496,230. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Trading Up 3.8%

Shares of Phillips 66 stock opened at $160.17 on Tuesday. The firm’s 50-day moving average price is $144.67 and its two-hundred day moving average price is $137.64. The company has a market capitalization of $64.19 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 0.54 and a beta of 0.86. The company has a quick ratio of 0.91, a current ratio of 1.30 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $163.79.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.32. The company had revenue of $32.16 billion during the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. During the same quarter in the prior year, the firm posted ($0.15) EPS. On average, analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd will be issued a $1.27 dividend. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.2%. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s dividend payout ratio (DPR) is 46.95%.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.