Illinois Municipal Retirement Fund Sells 33,615 Shares of Phillips 66 (NYSE:PSX)

Illinois Municipal Retirement Fund lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 24.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,654 shares of the oil and gas company’s stock after selling 33,615 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Phillips 66 were worth $13,534,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. DekaBank Deutsche Girozentrale boosted its position in Phillips 66 by 12.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock worth $26,501,000 after purchasing an additional 22,278 shares during the period. Eldred Rock Partners LLC bought a new position in Phillips 66 during the fourth quarter worth about $10,402,000. Choate Investment Advisors bought a new position in Phillips 66 during the third quarter worth about $247,000. First Dallas Securities Inc. bought a new position in Phillips 66 during the third quarter worth about $753,000. Finally, TIAA Trust National Association boosted its position in Phillips 66 by 32.9% during the fourth quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock worth $1,973,000 after purchasing an additional 3,670 shares during the period. Institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on PSX. Mizuho cut their target price on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Raymond James raised their price objective on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Citigroup started coverage on shares of Phillips 66 in a research report on Wednesday, January 24th. They issued a “buy” rating for the company. JPMorgan Chase & Co. raised their price objective on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Finally, Scotiabank raised their price objective on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $158.00.

Insider Activity

In other Phillips 66 news, Director Robert W. Pease purchased 682 shares of Phillips 66 stock in a transaction dated Thursday, February 15th. The stock was purchased at an average price of $146.58 per share, with a total value of $99,967.56. Following the transaction, the director now directly owns 1,900 shares of the company’s stock, valued at $278,502. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Robert W. Pease acquired 682 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the purchase, the director now owns 1,900 shares in the company, valued at approximately $278,502. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The disclosure for this sale can be found here. Insiders sold 35,056 shares of company stock valued at $5,272,681 in the last quarter. 0.22% of the stock is currently owned by insiders.

Phillips 66 Stock Up 0.6 %

Shares of PSX traded up $1.00 during trading hours on Tuesday, hitting $158.05. The company had a trading volume of 543,832 shares, compared to its average volume of 2,961,942. The firm has a fifty day moving average price of $154.65 and a 200-day moving average price of $135.96. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. The stock has a market capitalization of $67.62 billion, a price-to-earnings ratio of 10.15, a P/E/G ratio of 1.92 and a beta of 1.37. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The business had revenue of $38.74 billion during the quarter, compared to analyst estimates of $34.30 billion. On average, equities research analysts forecast that Phillips 66 will post 13.45 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a dividend of $1.15 per share. The ex-dividend date is Friday, May 17th. This represents a $4.60 annualized dividend and a dividend yield of 2.91%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is presently 27.15%.

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.