Phillips 66 $PSX Stock Holdings Boosted by California Public Employees Retirement System

California Public Employees Retirement System grew its position in shares of Phillips 66 (NYSE:PSX) by 3.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 696,577 shares of the oil and gas company’s stock after purchasing an additional 26,238 shares during the quarter. California Public Employees Retirement System owned 0.17% of Phillips 66 worth $83,102,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Elliott Investment Management L.P. increased its holdings in shares of Phillips 66 by 1,929.0% in the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after buying an additional 14,950,000 shares in the last quarter. Chronos Wealth Management LLC bought a new stake in shares of Phillips 66 during the 2nd quarter worth $281,000. Sustainable Insight Capital Management LLC acquired a new position in shares of Phillips 66 in the 1st quarter worth $1,457,000. Vanguard Group Inc. grew its holdings in shares of Phillips 66 by 14.8% in the 2nd quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock worth $5,531,702,000 after acquiring an additional 5,978,841 shares during the last quarter. Finally, Evergreen Wealth Solutions LLC acquired a new stake in shares of Phillips 66 during the first quarter worth $292,000. Institutional investors own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction 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 owned 89,771 shares of the company’s stock, valued at approximately $12,388,398. This trade represents a 25.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brian Mandell sold 26,200 shares of the business’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $137.68, for a total value of $3,607,216.00. Following the completion of the transaction, the executive vice president owned 56,838 shares in the company, valued at $7,825,455.84. This trade represents a 31.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 86,093 shares of company stock valued at $11,933,256. 0.22% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PSX shares. Wells Fargo & Company increased their price target on Phillips 66 from $154.00 to $162.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Wolfe Research raised their target price on shares of Phillips 66 from $158.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday. UBS Group reissued a “buy” rating and issued a $160.00 target price on shares of Phillips 66 in a research report on Monday, November 10th. Wall Street Zen upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Finally, Mizuho raised their price objective on shares of Phillips 66 from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $147.88.

Phillips 66 Price Performance

NYSE PSX opened at $138.85 on Tuesday. The company has a 50 day simple moving average of $135.07 and a 200-day simple moving average of $128.66. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.23 and a quick ratio of 0.87. The firm has a market capitalization of $55.94 billion, a price-to-earnings ratio of 37.94, a price-to-earnings-growth ratio of 0.73 and a beta of 0.92. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $143.25.

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

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Monday, November 17th. Phillips 66’s payout ratio is currently 131.15%.

Phillips 66 Company 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.