Phillips 66 (NYSE:PSX) Shares Acquired by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund grew its holdings in Phillips 66 (NYSE:PSX) by 71.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 21,231 shares of the oil and gas company’s stock after acquiring an additional 8,838 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Phillips 66 were worth $2,419,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in Phillips 66 by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock valued at $381,453,000 after purchasing an additional 16,941 shares in the last quarter. Mizuho Securities USA LLC boosted its holdings in Phillips 66 by 7,549.0% in the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after purchasing an additional 2,467,316 shares during the last quarter. Bank of Montreal Can raised its position in shares of Phillips 66 by 63.4% during the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after purchasing an additional 633,970 shares during the period. ING Groep NV grew its holdings in Phillips 66 by 123.2% in the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after buying an additional 653,032 shares in the last quarter. Finally, National Pension Service boosted its stake in Phillips 66 by 6.8% during the 3rd quarter. National Pension Service now owns 1,001,734 shares of the oil and gas company’s stock valued at $131,678,000 after purchasing an additional 63,349 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of research analyst reports. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a report on Friday, January 3rd. UBS Group decreased their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Mizuho decreased 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 research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.00.

Phillips 66 Stock Up 2.1 %

Shares of PSX opened at $128.24 on Tuesday. The firm’s 50-day simple moving average is $118.74 and its 200 day simple moving average is $127.19. Phillips 66 has a 52 week low of $108.90 and a 52 week high of $174.08. The firm has a market cap of $52.96 billion, a P/E ratio of 25.96, a price-to-earnings-growth ratio of 5.64 and a beta of 1.37. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the firm posted $3.09 EPS. On average, analysts forecast that Phillips 66 will post 7.14 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Monday, February 24th. Phillips 66’s payout ratio is 93.12%.

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.