California Public Employees Retirement System Sells 31,282 Shares of Phillips 66 (NYSE:PSX)

California Public Employees Retirement System reduced its stake in shares of Phillips 66 (NYSE:PSX) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 872,957 shares of the oil and gas company’s stock after selling 31,282 shares during the period. California Public Employees Retirement System’s holdings in Phillips 66 were worth $116,225,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. RWA Wealth Partners LLC raised its holdings in Phillips 66 by 112.1% during the fourth quarter. RWA Wealth Partners LLC now owns 6,589 shares of the oil and gas company’s stock valued at $877,000 after buying an additional 3,482 shares in the last quarter. Sage Mountain Advisors LLC grew its position in shares of Phillips 66 by 13.9% in the fourth quarter. Sage Mountain Advisors LLC now owns 2,225 shares of the oil and gas company’s stock valued at $296,000 after purchasing an additional 271 shares during the last quarter. Jennison Associates LLC grew its position in shares of Phillips 66 by 15.1% in the fourth quarter. Jennison Associates LLC now owns 5,621 shares of the oil and gas company’s stock valued at $748,000 after purchasing an additional 738 shares during the last quarter. MCF Advisors LLC grew its position in shares of Phillips 66 by 1.6% in the fourth quarter. MCF Advisors LLC now owns 6,731 shares of the oil and gas company’s stock valued at $896,000 after purchasing an additional 104 shares during the last quarter. Finally, OLD National Bancorp IN grew its position in shares of Phillips 66 by 28.5% in the fourth quarter. OLD National Bancorp IN now owns 8,824 shares of the oil and gas company’s stock valued at $1,175,000 after purchasing an additional 1,957 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Up 1.2 %

NYSE:PSX opened at $158.90 on Wednesday. The stock’s fifty day moving average price is $154.93 and its two-hundred day moving average price is $136.31. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. The company has a market cap of $67.98 billion, a price-to-earnings ratio of 10.27, a P/E/G ratio of 1.95 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The firm had revenue of $38.74 billion for the quarter, compared to the consensus estimate of $34.30 billion. On average, analysts anticipate that Phillips 66 will post 13.45 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a $1.15 dividend. The ex-dividend date is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.89%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is 27.15%.

Insider Activity

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Richard G. Harbison sold 21,934 shares of the company’s 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 completion of the sale, the executive vice president now owns 24,941 shares in the company, valued at approximately $3,648,120.07. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the sale, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. 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 in the last 90 days. 0.22% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Citigroup initiated coverage on Phillips 66 in a research report on Wednesday, January 24th. They issued a “buy” rating on the stock. Raymond James lifted their target price on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Mizuho decreased their target price on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Bank of America lifted their target price on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. lifted their price objective on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $158.00.

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.