Public Employees Retirement Association of Colorado Sells 917,707 Shares of Phillips 66 (NYSE:PSX)

Public Employees Retirement Association of Colorado trimmed its holdings in Phillips 66 (NYSE:PSX) by 94.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,856 shares of the oil and gas company’s stock after selling 917,707 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Phillips 66 were worth $6,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its holdings in Phillips 66 by 283.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock worth $686,618,000 after buying an additional 4,455,220 shares during the last quarter. Norges Bank purchased a new position in Phillips 66 in the 4th quarter worth approximately $497,648,000. Raymond James Financial Inc. purchased a new position in Phillips 66 in the 4th quarter worth approximately $168,790,000. Amundi raised its holdings in Phillips 66 by 25.7% in the 4th quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock worth $428,081,000 after acquiring an additional 753,653 shares during the last quarter. Finally, National Bank of Canada FI raised its holdings in Phillips 66 by 166.7% in the 4th quarter. National Bank of Canada FI now owns 1,134,582 shares of the oil and gas company’s stock worth $129,266,000 after acquiring an additional 709,219 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Barclays decreased their price objective on shares of Phillips 66 from $135.00 to $106.00 and set an “equal weight” rating for the company in a report on Thursday, April 10th. Mizuho decreased their price objective 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. StockNews.com upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Monday. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Finally, The Goldman Sachs Group lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price for the company. in a research note on Thursday, March 27th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.07.

Phillips 66 Trading Up 1.8 %

NYSE:PSX opened at $105.80 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The firm has a market capitalization of $43.11 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17. Phillips 66 has a one year low of $91.01 and a one year high of $152.19. The business has a fifty day moving average price of $115.31 and a 200-day moving average price of $120.83.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). The company had revenue of $31.92 billion during the quarter, compared to analysts’ expectations of $31.93 billion. Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter last year, the company earned $1.90 earnings per share. Sell-side analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be issued a $1.20 dividend. The ex-dividend date is Monday, May 19th. This represents a $4.80 annualized dividend and a yield of 4.54%. This is an increase from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s dividend payout ratio is currently 97.17%.

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.