Teacher Retirement System of Texas lifted its position in shares of Phillips 66 (NYSE:PSX) by 61.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 737,417 shares of the oil and gas company’s stock after purchasing an additional 280,630 shares during the period. Teacher Retirement System of Texas owned about 0.16% of Phillips 66 worth $82,819,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSX. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of Phillips 66 by 17.9% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,883 shares of the oil and gas company’s stock worth $259,000 after buying an additional 437 shares during the last quarter. Waters Parkerson & CO. LLC increased its stake in Phillips 66 by 14.0% during the first quarter. Waters Parkerson & CO. LLC now owns 3,584 shares of the oil and gas company’s stock valued at $344,000 after purchasing an additional 440 shares during the last quarter. Atria Investments LLC increased its stake in Phillips 66 by 15.2% during the first quarter. Atria Investments LLC now owns 3,364 shares of the oil and gas company’s stock valued at $323,000 after purchasing an additional 445 shares during the last quarter. Capital Investment Advisors LLC increased its stake in Phillips 66 by 11.8% during the second quarter. Capital Investment Advisors LLC now owns 4,223 shares of the oil and gas company’s stock valued at $474,000 after purchasing an additional 445 shares during the last quarter. Finally, Buckley Wealth Management LLC increased its stake in Phillips 66 by 4.0% during the first quarter. Buckley Wealth Management LLC now owns 11,780 shares of the oil and gas company’s stock valued at $1,130,000 after purchasing an additional 449 shares during the last quarter. 69.63% of the stock is currently owned by institutional investors and hedge funds.

PSX has been the subject of several recent research reports. Wells Fargo & Co upgraded shares of Phillips 66 from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 29th. Zacks Investment Research upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $137.00 target price for the company in a research note on Wednesday, August 1st. Credit Suisse Group boosted their target price on shares of Phillips 66 from $115.00 to $127.00 and gave the company a “neutral” rating in a research note on Monday, June 4th. Morgan Stanley boosted their target price on shares of Phillips 66 from $135.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, July 16th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Phillips 66 from $127.00 to $132.00 and gave the company a “neutral” rating in a research note on Monday, June 4th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $112.44.

Phillips 66 stock opened at $122.59 on Friday. The stock has a market cap of $56.72 billion, a PE ratio of 18.60, a PEG ratio of 1.90 and a beta of 1.06. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.24 and a quick ratio of 0.82. Phillips 66 has a one year low of $80.73 and a one year high of $123.97.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, July 27th. The oil and gas company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.16 by $0.64. The business had revenue of $29.74 billion during the quarter, compared to analyst estimates of $29.40 billion. Phillips 66 had a net margin of 5.34% and a return on equity of 12.87%. During the same quarter in the prior year, the firm earned $1.09 earnings per share. equities research analysts predict that Phillips 66 will post 7.57 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Tuesday, August 21st will be given a dividend of $0.80 per share. The ex-dividend date is Monday, August 20th. This represents a $3.20 annualized dividend and a dividend yield of 2.61%. Phillips 66’s dividend payout ratio is currently 73.06%.

In other news, VP Chukwuemeka A. Oyolu sold 6,900 shares of the company’s stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $120.00, for a total transaction of $828,000.00. Following the completion of the transaction, the vice president now owns 8,177 shares in the company, valued at $981,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by corporate insiders.

Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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