Phillips 66 (NYSE:PSX) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its holdings in Phillips 66 (NYSE:PSX) by 9.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 697,807 shares of the oil and gas company’s stock after selling 72,025 shares during the quarter. California Public Employees Retirement System owned 0.17% of Phillips 66 worth $79,501,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PSX. Bank of New York Mellon Corp boosted its holdings in Phillips 66 by 7.3% in the fourth 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. Norges Bank purchased a new position in shares of Phillips 66 during the 4th quarter valued at approximately $497,648,000. Amundi lifted its stake in shares of Phillips 66 by 25.7% in the 4th quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock valued at $428,081,000 after purchasing an additional 753,653 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Phillips 66 by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,002,995 shares of the oil and gas company’s stock worth $342,131,000 after buying an additional 101,108 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Phillips 66 during the fourth quarter valued at $168,790,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Up 1.6 %

PSX stock opened at $123.72 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average of $124.82 and a two-hundred day moving average of $125.50. Phillips 66 has a 12 month low of $108.91 and a 12 month high of $174.08. The company has a market cap of $50.44 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 4.84 and a beta of 1.31.

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

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date was Monday, February 24th. Phillips 66’s dividend payout ratio is currently 93.12%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PSX shares. The Goldman Sachs Group lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price on the stock. in a research note on Thursday, March 27th. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research report on Friday, January 3rd. Barclays boosted their price objective on Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Finally, Mizuho cut their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $146.43.

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.