California State Teachers Retirement System Sells 271,043 Shares of Phillips 66 (NYSE:PSX)

California State Teachers Retirement System decreased its stake in shares of Phillips 66 (NYSE:PSX) by 35.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 497,521 shares of the oil and gas company’s stock after selling 271,043 shares during the period. California State Teachers Retirement System’s holdings in Phillips 66 were worth $56,683,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. CWC Advisors LLC. raised its stake in shares of Phillips 66 by 1.0% during the fourth quarter. CWC Advisors LLC. now owns 9,743 shares of the oil and gas company’s stock valued at $1,110,000 after acquiring an additional 92 shares in the last quarter. 111 Capital purchased a new position in Phillips 66 during the 4th quarter worth $474,000. Wealth Enhancement Advisory Services LLC raised its position in Phillips 66 by 7.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 132,109 shares of the oil and gas company’s stock valued at $15,051,000 after purchasing an additional 8,821 shares in the last quarter. Wealthedge Investment Advisors LLC purchased a new stake in shares of Phillips 66 in the 4th quarter worth $205,000. Finally, Old North State Trust LLC grew its position in shares of Phillips 66 by 125.6% during the 4th quarter. Old North State Trust LLC now owns 3,454 shares of the oil and gas company’s stock worth $394,000 after buying an additional 1,923 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PSX has been the topic of several research reports. Raymond James cut their price target on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Barclays boosted their price target on shares of Phillips 66 from $106.00 to $115.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. JPMorgan Chase & Co. lowered their price target on shares of Phillips 66 from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Tuesday, April 29th. UBS Group cut their price objective on shares of Phillips 66 from $144.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Finally, TD Cowen upped their target price on Phillips 66 from $114.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, May 13th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.86.

Phillips 66 Stock Up 1.0%

Phillips 66 stock opened at $114.28 on Wednesday. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12. The business has a fifty day moving average price of $109.99 and a 200-day moving average price of $118.83. 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 $46.56 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 4.84 and a beta of 1.01.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results 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 business 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 in the previous year, the firm posted $1.90 EPS. Equities research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business 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 dividend of $1.20 per share. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a yield of 4.20%. Phillips 66’s dividend payout ratio is presently 109.34%.

Insider Buying and Selling at Phillips 66

In related news, Director Robert W. Pease acquired 439 shares of the stock in a transaction dated Thursday, May 22nd. The stock was acquired at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the purchase, the director now owns 4,091 shares of the company’s stock, valued at approximately $465,760.35. This represents a 12.02% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.22% of the stock is currently owned by company insiders.

Phillips 66 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.