Phillips 66 $PSX Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund trimmed its stake in shares of Phillips 66 (NYSE:PSX) by 27.0% during the first quarter, HoldingsChannel reports. The fund owned 77,510 shares of the oil and gas company’s stock after selling 28,659 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Phillips 66 were worth $14,121,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Board of the Pension Protection Fund bought a new stake in shares of Phillips 66 in the 4th quarter worth about $26,000. Accordant Advisory Group Inc lifted its position in shares of Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 180 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in Phillips 66 in the fourth quarter worth about $27,000. NFSG Corp grew its stake in Phillips 66 by 105.6% in the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Finally, SWAN Capital LLC increased its holdings in Phillips 66 by 1,055.6% in the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 190 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Phillips 66

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

• Positive Sentiment: Tight fuel markets and elevated crack spreads are boosting refining margins, which could improve Phillips 66’s earnings power. Can Tight Fuel Markets Benefit Phillips 66’s Refining Business?
• Positive Sentiment: Limited Middle East crude exposure may help cushion Phillips 66 if geopolitical supply disruptions continue, reducing a key risk for refiners. Can Tight Fuel Markets Benefit Phillips 66’s Refining Business?
• Neutral Sentiment: Analyst comparisons with ExxonMobil highlight Phillips 66’s diversification, but also note ongoing pressure in the refining segment, making the setup more balanced than purely bullish. ExxonMobil vs. Phillips 66: Which Energy Stock Should You Pick?
• Negative Sentiment: The stock has also faced a recent pullback, with traders citing broader weakness in refining and energy shares rather than a Phillips 66-specific setback. Phillips 66 (PSX) Stock Drops Despite Market Gains: Important Facts to Note
• Negative Sentiment: Weaker crude prices and softer sentiment across refiners after inventory data may keep pressure on PSX in the near term. Why Phillips 66 (PSX) Stock Is Down Today

Phillips 66 Stock Up 2.6%

PSX opened at $201.24 on Friday. The stock’s 50 day moving average price is $178.32 and its 200 day moving average price is $165.20. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The stock has a market cap of $80.68 billion, a P/E ratio of 19.83, a P/E/G ratio of 0.26 and a beta of 0.69. Phillips 66 has a 12 month low of $118.07 and a 12 month high of $202.72.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. During the same quarter in the previous year, the firm posted ($0.90) EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, research analysts predict that Phillips 66 will post 19.84 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s payout ratio is currently 50.05%.

Wall Street Analyst Weigh In

PSX has been the topic of several research reports. Zacks Research cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Raymond James Financial boosted their price target on Phillips 66 from $218.00 to $235.00 and gave the company an “outperform” rating in a report on Monday. The Goldman Sachs Group upped their price target on Phillips 66 from $192.00 to $207.00 and gave the company a “neutral” rating in a research report on Tuesday, May 19th. Argus lifted their price objective on shares of Phillips 66 from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, Wolfe Research boosted their target price on shares of Phillips 66 from $187.00 to $193.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $196.06.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 11,021 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $190.03, for a total value of $2,094,320.63. Following the completion of the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at $18,504,361.28. This represents a 10.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Omar Meyers bought 175 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was 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 in the company, valued at $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have sold 41,021 shares of company stock worth $7,195,257. Company insiders own 0.40% of the company’s stock.

About Phillips 66

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.