New York State Teachers Retirement System Sells 24,201 Shares of Phillips 66 (NYSE:PSX)

New York State Teachers Retirement System lessened its stake in Phillips 66 (NYSE:PSX) by 6.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 336,693 shares of the oil and gas company’s stock after selling 24,201 shares during the period. New York State Teachers Retirement System owned about 0.08% of Phillips 66 worth $38,359,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PSX. Exchange Traded Concepts LLC grew its position in shares of Phillips 66 by 22.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 5,483 shares of the oil and gas company’s stock valued at $721,000 after buying an additional 1,014 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Phillips 66 by 171.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 31,424 shares of the oil and gas company’s stock valued at $4,131,000 after purchasing an additional 19,842 shares during the period. SPC Financial Inc. lifted its stake in shares of Phillips 66 by 5.1% in the 3rd quarter. SPC Financial Inc. now owns 2,094 shares of the oil and gas company’s stock valued at $275,000 after purchasing an additional 102 shares during the period. nVerses Capital LLC acquired a new position in shares of Phillips 66 in the 3rd quarter valued at about $26,000. Finally, Good Life Advisors LLC lifted its stake in shares of Phillips 66 by 10.0% in the 3rd quarter. Good Life Advisors LLC now owns 3,639 shares of the oil and gas company’s stock valued at $478,000 after purchasing an additional 330 shares during the period. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of recent analyst 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. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research note on Friday, January 3rd. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Barclays dropped their price objective on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, Mizuho dropped their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $128.24 on Friday. The company has a market cap of $52.96 billion, a PE ratio of 25.96, a price-to-earnings-growth ratio of 5.64 and a beta of 1.37. Phillips 66 has a 52 week low of $108.90 and a 52 week high of $174.08. The business has a 50 day moving average price of $118.75 and a 200-day moving average price of $127.54. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data 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 return on equity of 8.58% and a net margin of 1.46%. During the same period in the previous year, the company earned $3.09 earnings per share. Equities analysts anticipate that Phillips 66 will post 7.14 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.59%. The ex-dividend date is Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is presently 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.