Phillips 66 $PSX Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its holdings in Phillips 66 (NYSE:PSX) by 11.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,892 shares of the oil and gas company’s stock after selling 8,505 shares during the quarter. Teacher Retirement System of Texas’ holdings in Phillips 66 were worth $8,555,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PSX. Elliott Investment Management L.P. boosted its stake in Phillips 66 by 22.4% during the 2nd quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock valued at $2,296,644,000 after purchasing an additional 3,526,000 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in shares of Phillips 66 by 5.0% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 209,700 shares of the oil and gas company’s stock valued at $28,523,000 after buying an additional 10,000 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Phillips 66 by 14.8% in the second quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock valued at $5,531,702,000 after buying an additional 5,978,841 shares during the period. Edgestream Partners L.P. bought a new position in Phillips 66 during the second quarter valued at about $4,952,000. Finally, Thrivent Financial for Lutherans grew its holdings in Phillips 66 by 81.1% during the second quarter. Thrivent Financial for Lutherans now owns 42,205 shares of the oil and gas company’s stock worth $5,035,000 after acquiring an additional 18,895 shares during the period. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In other news, EVP Brian Mandell sold 26,200 shares of the company’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total value of $3,607,216.00. Following the transaction, the executive vice president owned 56,838 shares in the company, valued at $7,825,455.84. This represents a 31.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the completion of the sale, the chief financial officer directly owned 89,771 shares of the company’s stock, valued at $12,388,398. This trade represents a 25.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 86,094 shares of company stock valued at $11,955,366 in the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Price Performance

PSX opened at $141.51 on Monday. The stock has a fifty day moving average of $136.13 and a 200-day moving average of $132.45. The firm has a market capitalization of $57.02 billion, a P/E ratio of 38.66, a PEG ratio of 0.40 and a beta of 0.90. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $146.88. The company has a quick ratio of 0.87, a current ratio of 1.23 and a debt-to-equity ratio of 0.68.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.38. The business had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.During the same quarter in the previous year, the company posted $2.04 earnings per share. Equities analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PSX. Morgan Stanley upped their price target on shares of Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a report on Friday, October 3rd. Scotiabank restated a “sector perform” rating and issued a $140.00 price target on shares of Phillips 66 in a research report on Friday, January 16th. Wells Fargo & Company raised their price objective on Phillips 66 from $154.00 to $162.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. UBS Group reaffirmed a “buy” rating on shares of Phillips 66 in a research report on Tuesday, January 6th. Finally, TD Cowen upped their target price on Phillips 66 from $145.00 to $151.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $153.53.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.