Maryland State Retirement & Pension System Has $4.61 Million Stock Position in Phillips 66 (NYSE:PSX)

Maryland State Retirement & Pension System reduced its holdings in Phillips 66 (NYSE:PSX) by 1.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 34,647 shares of the oil and gas company’s stock after selling 545 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Phillips 66 were worth $4,613,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PSX. Cornerstone Planning Group LLC increased its position in shares of Phillips 66 by 134.8% during the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after buying an additional 151 shares during the period. Signature Resources Capital Management LLC bought a new position in Phillips 66 during the fourth quarter worth $33,000. Bruce G. Allen Investments LLC bought a new position in Phillips 66 during the fourth quarter worth $36,000. Bell Investment Advisors Inc boosted its stake in Phillips 66 by 82.1% during the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 138 shares in the last quarter. Finally, West Branch Capital LLC boosted its stake in Phillips 66 by 49.5% during the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 91 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Shares of PSX stock traded up $0.38 during trading hours on Tuesday, reaching $145.50. The stock had a trading volume of 1,266,310 shares, compared to its average volume of 2,927,696. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08. The firm has a market capitalization of $61.68 billion, a PE ratio of 11.16, a PEG ratio of 1.82 and a beta of 1.41. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The stock’s fifty day simple moving average is $155.49 and its 200 day simple moving average is $138.56.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The company had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. During the same quarter in the previous year, the firm earned $4.21 earnings per share. On average, equities research analysts predict that Phillips 66 will post 13.17 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.16%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s payout ratio is presently 32.31%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PSX shares. 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 note on Thursday, February 1st. Barclays dropped their price objective on shares of Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 30th. JPMorgan Chase & Co. increased their target price on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Scotiabank increased their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Finally, The Goldman Sachs Group increased their target price on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average price target of $157.43.

Insider Buying and Selling

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

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.