Phillips 66 (NYSE:PSX) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System trimmed its holdings in Phillips 66 (NYSE:PSX) by 9.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,043 shares of the oil and gas company’s stock after selling 2,221 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Phillips 66 were worth $2,511,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PSX. Quest Partners LLC lifted its stake in Phillips 66 by 324,800.0% in the third quarter. Quest Partners LLC now owns 3,249 shares of the oil and gas company’s stock valued at $427,000 after buying an additional 3,248 shares during the last quarter. Caprock Group LLC lifted its stake in Phillips 66 by 1.3% in the third quarter. Caprock Group LLC now owns 9,694 shares of the oil and gas company’s stock valued at $1,274,000 after buying an additional 127 shares during the last quarter. Prospera Financial Services Inc lifted its stake in Phillips 66 by 6.8% in the third quarter. Prospera Financial Services Inc now owns 29,040 shares of the oil and gas company’s stock valued at $3,820,000 after buying an additional 1,849 shares during the last quarter. Prospera Private Wealth LLC lifted its stake in Phillips 66 by 98.4% in the third quarter. Prospera Private Wealth LLC now owns 3,349 shares of the oil and gas company’s stock valued at $440,000 after buying an additional 1,661 shares during the last quarter. Finally, Commerce Bank lifted its stake in Phillips 66 by 1.6% in the third quarter. Commerce Bank now owns 55,553 shares of the oil and gas company’s stock valued at $7,302,000 after buying an additional 874 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PSX has been the subject of a number of research reports. Wells Fargo & Company boosted their price objective on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Mizuho decreased their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a report on Friday, January 3rd. Finally, StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $149.43.

Phillips 66 Price Performance

Phillips 66 stock opened at $128.78 on Friday. Phillips 66 has a one year low of $108.91 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The business has a fifty day moving average of $123.88 and a two-hundred day moving average of $125.81. The company has a market cap of $52.50 billion, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS 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 period last year, the company posted $3.09 earnings per share. As a group, analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s dividend payout ratio is currently 93.12%.

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.