Teacher Retirement System of Texas boosted its holdings in Phillips 66 (NYSE:PSX) by 14.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 456,787 shares of the oil and gas company’s stock after acquiring an additional 57,475 shares during the quarter. Teacher Retirement System of Texas’ holdings in Phillips 66 were worth $43,815,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Centaurus Financial Inc. bought a new position in Phillips 66 in the 1st quarter valued at about $107,000. Pin Oak Investment Advisors Inc. bought a new position in Phillips 66 in the 4th quarter valued at about $119,000. First Dallas Securities Inc. bought a new position in Phillips 66 in the 4th quarter valued at about $143,000. Truewealth LLC bought a new position in Phillips 66 in the 4th quarter valued at about $151,000. Finally, University of Texas Investment Managment Co. bought a new position in Phillips 66 in the 4th quarter valued at about $156,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:PSX traded down $1.44 during mid-day trading on Wednesday, reaching $116.88. The company had a trading volume of 11,241 shares, compared to its average volume of 2,285,769. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $55.10 billion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 1.96 and a beta of 1.07. Phillips 66 has a one year low of $116.47 and a one year high of $118.00.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, April 27th. The oil and gas company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. The company had revenue of $24.05 billion for the quarter, compared to analysts’ expectations of $29.23 billion. Phillips 66 had a net margin of 4.85% and a return on equity of 10.00%. During the same quarter in the previous year, the firm posted $0.56 EPS. research analysts predict that Phillips 66 will post 7.12 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Monday, May 21st will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, May 18th. This is a boost from Phillips 66’s previous quarterly dividend of $0.70. Phillips 66’s payout ratio is 63.93%.
Several equities analysts recently weighed in on the stock. Credit Suisse Group raised their price target on shares of Phillips 66 from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Monday, April 30th. Barclays lifted their target price on shares of Phillips 66 from $105.00 to $115.00 and gave the stock an “underweight” rating in a research report on Monday, April 30th. Citigroup lifted their target price on shares of Phillips 66 from $92.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 13th. Royal Bank of Canada reissued a “hold” rating and set a $106.00 target price on shares of Phillips 66 in a research report on Tuesday, January 30th. Finally, ValuEngine raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. Phillips 66 currently has an average rating of “Hold” and a consensus target price of $104.72.
About Phillips 66
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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