Arizona State Retirement System Sells 1,662 Shares of Phillips 66 (NYSE:PSX)

Arizona State Retirement System lowered its holdings in shares of Phillips 66 (NYSE:PSX) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,927 shares of the oil and gas company’s stock after selling 1,662 shares during the quarter. Arizona State Retirement System’s holdings in Phillips 66 were worth $13,663,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bogart Wealth LLC lifted its stake in Phillips 66 by 120.0% in the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 120 shares in the last quarter. J.Safra Asset Management Corp acquired a new stake in shares of Phillips 66 during the fourth quarter worth $25,000. Stephens Consulting LLC lifted its position in Phillips 66 by 83.5% in the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 111 shares in the last quarter. Human Investing LLC acquired a new position in Phillips 66 in the 4th quarter worth $30,000. Finally, Webster Bank N. A. increased its holdings in Phillips 66 by 48.4% during the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 88 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on PSX shares. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Wells Fargo & Company boosted their target price on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Mizuho cut their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Finally, Barclays decreased their target price on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and an average price target of $148.00.

Phillips 66 Trading Up 2.5 %

Phillips 66 stock opened at $122.72 on Friday. The stock has a 50-day simple moving average of $121.49 and a 200 day simple moving average of $126.44. The stock has a market capitalization of $50.03 billion, a P/E ratio of 24.84, a PEG ratio of 4.84 and a beta of 1.37. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a 52 week low of $108.91 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period in the prior year, the company earned $3.09 EPS. Analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.75%. The ex-dividend date was Monday, February 24th. Phillips 66’s payout ratio is presently 93.12%.

Phillips 66 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.