Phillips 66 (NYSE:PSX) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its stake in Phillips 66 (NYSE:PSX) by 4,491.3% in the fourth quarter, HoldingsChannel reports. The firm owned 130,347 shares of the oil and gas company’s stock after purchasing an additional 127,508 shares during the period. Teacher Retirement System of Texas’ holdings in Phillips 66 were worth $14,850,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. NewEdge Wealth LLC boosted its position in shares of Phillips 66 by 0.5% in the 4th quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock valued at $1,732,000 after purchasing an additional 81 shares during the period. JBR Co Financial Management Inc boosted its position in shares of Phillips 66 by 0.9% in the 4th quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company’s stock valued at $1,085,000 after purchasing an additional 85 shares during the period. Nwam LLC boosted its position in shares of Phillips 66 by 2.2% in the 4th quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock valued at $442,000 after purchasing an additional 85 shares during the period. Webster Bank N. A. boosted its position in shares of Phillips 66 by 48.4% in the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 88 shares during the period. Finally, PFG Private Wealth Management LLC boosted its position in shares of Phillips 66 by 7.7% in the 4th quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company’s stock valued at $140,000 after purchasing an additional 88 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Down 2.6 %

Shares of Phillips 66 stock opened at $125.51 on Friday. The firm has a market cap of $51.17 billion, a price-to-earnings ratio of 25.41, a P/E/G ratio of 4.84 and a beta of 1.31. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a 52-week low of $108.91 and a 52-week high of $174.08. The stock has a 50-day simple moving average of $124.11 and a 200-day simple moving average of $125.71.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data 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 net margin of 1.46% and a return on equity of 8.58%. During the same period in the prior year, the company earned $3.09 earnings per share. On average, equities research analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s payout ratio is 93.12%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PSX. Mizuho decreased their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. Barclays raised their price objective on Phillips 66 from $115.00 to $135.00 and gave the stock 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, Wells Fargo & Company raised their price objective on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and an average price target of $149.43.

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.