Teachers Retirement System of The State of Kentucky Buys 19,659 Shares of Phillips 66 $PSX

Teachers Retirement System of The State of Kentucky boosted its stake in Phillips 66 (NYSE:PSX) by 60.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,960 shares of the oil and gas company’s stock after purchasing an additional 19,659 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Phillips 66 were worth $9,466,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Phillips 66 by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company’s stock worth $6,701,052,000 after buying an additional 205,480 shares in the last quarter. State Street Corp increased its stake in Phillips 66 by 0.8% in the 4th quarter. State Street Corp now owns 23,589,550 shares of the oil and gas company’s stock worth $3,043,996,000 after acquiring an additional 175,616 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Phillips 66 by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company’s stock worth $1,338,596,000 after acquiring an additional 45,340 shares in the last quarter. Norges Bank bought a new position in shares of Phillips 66 during the 4th quarter valued at approximately $640,206,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Phillips 66 by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,944,561 shares of the oil and gas company’s stock valued at $509,006,000 after purchasing an additional 89,621 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of recent research reports. Mizuho raised shares of Phillips 66 from a “neutral” rating to an “outperform” rating and upped their price target for the company from $170.00 to $212.00 in a research note on Wednesday, May 27th. Zacks Research downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. UBS Group reiterated a “buy” rating and issued a $212.00 price target on shares of Phillips 66 in a research report on Monday, June 15th. Barclays boosted their price objective on Phillips 66 from $177.00 to $183.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Finally, Weiss Ratings downgraded Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $194.89.

Insider Buying and Selling

In other Phillips 66 news, Director Kevin Omar Meyers acquired 175 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were bought at an average price of $173.12 per share, with a total value of $30,296.00. Following the transaction, the director directly owned 16,799 shares of the company’s stock, valued at $2,908,242.88. The trade was a 1.05% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kevin J. Mitchell sold 29,400 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $170.00, for a total value of $4,998,000.00. Following the completion of the sale, the chief financial officer owned 97,376 shares in the company, valued at approximately $16,553,920. The trade was a 23.19% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 41,021 shares of company stock worth $7,195,257. Insiders own 0.40% of the company’s stock.

Key Phillips 66 News

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Renewed Middle East tensions have tightened refined-product markets, which can lift refining margins and improve earnings for Phillips 66 as a downstream energy company. Renewed Middle East Tensions Threaten Supply: 3 Energy Stocks to Watch
• Positive Sentiment: Oil prices moved higher after escalating U.S.-Iran tensions around the Strait of Hormuz, a backdrop that can keep fuel markets tight and support refiners like PSX. Oil Jumps As Trump Makes U.S. ‘Guardian’ Of Hormuz; What Happens Now
• Positive Sentiment: Brokerage sentiment remains favorable overall, with Phillips 66 carrying a “Moderate Buy” consensus rating and recent price-target increases from firms such as Goldman Sachs and Barclays. Phillips 66 Given Consensus Recommendation of “Moderate Buy” by Brokerages
• Neutral Sentiment: CFO Kevin Mitchell sold 11,021 shares in a pre-arranged Rule 10b5-1 plan, but he still holds a sizable stake worth about $18.5 million, making the transaction more routine than alarming. Phillips 66 (NYSE:PSX) CFO Kevin Mitchell Sells 11,021 Shares
• Neutral Sentiment: Another report noted that Mitchell cashed in options while retaining a large equity position, reinforcing that the insider activity appears planned rather than a strong negative signal. Phillips 66’s CFO Cashed In Options but Kept an $18.3 Million Stake
• Negative Sentiment: Zacks Research recently cut PSX from “strong-buy” to “hold,” which may temper enthusiasm even though the broader analyst view remains positive. Phillips 66 Given Consensus Recommendation of “Moderate Buy” by Brokerages

Phillips 66 Trading Up 5.1%

PSX stock opened at $198.00 on Tuesday. Phillips 66 has a twelve month low of $118.07 and a twelve month high of $198.58. The stock has a market capitalization of $79.38 billion, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 0.25 and a beta of 0.69. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The firm’s fifty day simple moving average is $176.76 and its two-hundred day simple moving average is $163.69.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. During the same quarter last year, the business earned ($0.90) EPS. The business’s revenue was up 6.9% on a year-over-year basis. As a group, analysts anticipate that Phillips 66 will post 19.3 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s payout ratio is 50.05%.

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.