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

Public Employees Retirement Association of Colorado lessened its stake in shares of Phillips 66 (NYSE:PSX) by 94.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,856 shares of the oil and gas company’s stock after selling 917,707 shares during the period. 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 & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Bank of New York Mellon Corp boosted its holdings in shares of Phillips 66 by 7.3% during the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock valued at $1,064,601,000 after purchasing an additional 639,323 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Phillips 66 by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company’s stock valued at $968,844,000 after purchasing an additional 82,758 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Phillips 66 by 283.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock valued at $686,618,000 after acquiring an additional 4,455,220 shares during the last quarter. Norges Bank bought a new position in shares of Phillips 66 in the 4th quarter valued at about $497,648,000. Finally, Invesco Ltd. lifted its holdings in shares of Phillips 66 by 9.2% in the 4th quarter. Invesco Ltd. now owns 4,112,618 shares of the oil and gas company’s stock valued at $468,551,000 after acquiring an additional 347,905 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 1.8 %

Shares of 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 stock has a market capitalization of $43.11 billion, a P/E ratio of 21.42, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17. Phillips 66 has a 1-year low of $91.01 and a 1-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 issued its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). The company had revenue of $31.92 billion for 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. Equities research analysts expect that Phillips 66 will post 6.8 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 2nd. Shareholders of record on Monday, May 19th will be paid a $1.20 dividend. The ex-dividend date is Monday, May 19th. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 4.54%. Phillips 66’s dividend payout ratio (DPR) is 97.17%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PSX. Wolfe Research raised shares of 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. Wells Fargo & Company cut their price objective on Phillips 66 from $162.00 to $149.00 and set an “overweight” rating on the stock in a research report on Monday. Barclays cut their price objective on Phillips 66 from $135.00 to $106.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Scotiabank cut their price objective on Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Friday, April 11th. Finally, Mizuho cut their price objective on Phillips 66 from $140.00 to $132.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $137.07.

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.