Public Employees Retirement Association of Colorado reduced its stake in shares of Phillips 66 (NYSE:PSX) by 0.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 962,535 shares of the oil and gas company’s stock after selling 1,314 shares during the period. Public Employees Retirement Association of Colorado owned 0.21% of Phillips 66 worth $90,036,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in Phillips 66 by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 5,386,724 shares of the oil and gas company’s stock valued at $463,230,000 after purchasing an additional 396,796 shares in the last quarter. Truvestments Capital LLC bought a new position in Phillips 66 in the first quarter valued at $49,000. Virtu Financial LLC bought a new position in Phillips 66 in the first quarter valued at $515,000. Farmers & Merchants Trust Co of Chambersburg PA grew its position in Phillips 66 by 7.4% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 21,461 shares of the oil and gas company’s stock valued at $2,042,000 after purchasing an additional 1,475 shares in the last quarter. Finally, Ropes Wealth Advisors LLC grew its position in Phillips 66 by 27.3% in the first quarter. Ropes Wealth Advisors LLC now owns 1,764 shares of the oil and gas company’s stock valued at $168,000 after purchasing an additional 378 shares in the last quarter. 71.31% of the stock is currently owned by hedge funds and other institutional investors.

PSX stock traded up $2.50 during trading hours on Tuesday, reaching $100.81. The stock had a trading volume of 92,705 shares, compared to its average volume of 2,467,253. The company has a market capitalization of $43.71 billion, a PE ratio of 8.62, a PEG ratio of 1.98 and a beta of 1.10. The company has a quick ratio of 0.82, a current ratio of 1.28 and a debt-to-equity ratio of 0.39. The company’s 50-day moving average is $98.73. Phillips 66 has a fifty-two week low of $78.44 and a fifty-two week high of $123.45.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, July 26th. The oil and gas company reported $3.02 EPS for the quarter, beating analysts’ consensus estimates of $2.70 by $0.32. The firm had revenue of $28.52 billion during the quarter, compared to analysts’ expectations of $29.89 billion. Phillips 66 had a net margin of 4.76% and a return on equity of 19.75%. During the same quarter last year, the company posted $2.80 earnings per share. As a group, sell-side analysts predict that Phillips 66 will post 7.79 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend is Monday, August 19th. Phillips 66’s dividend payout ratio is currently 30.74%.

PSX has been the subject of a number of analyst reports. Cowen raised their target price on shares of Phillips 66 from $112.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Morgan Stanley decreased their target price on shares of Phillips 66 from $115.00 to $105.00 and set an “equal weight” rating for the company in a research report on Friday, May 17th. Jefferies Financial Group downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating and raised their target price for the company from $105.00 to $107.00 in a research report on Monday, April 15th. Bank of America raised shares of Phillips 66 from a “neutral” rating to a “buy” rating and set a $126.00 target price for the company in a research report on Monday, April 29th. They noted that the move was a valuation call. Finally, Citigroup upgraded shares of Phillips 66 from a “neutral” rating to a “buy” rating in a research note on Friday, June 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $117.64.

In other news, Director John E. Lowe purchased 2,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was purchased at an average price of $82.91 per share, for a total transaction of $165,820.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.13% of the company’s stock.

Phillips 66 Company 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; provides terminaling and storage services for crude oil and 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.

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

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