Louisiana State Employees Retirement System Sells 700 Shares of Phillips 66 $PSX

Louisiana State Employees Retirement System trimmed its holdings in Phillips 66 (NYSE:PSX) by 3.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,500 shares of the oil and gas company’s stock after selling 700 shares during the period. Louisiana State Employees Retirement System’s holdings in Phillips 66 were worth $2,565,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PSX. Elliott Investment Management L.P. grew its position in Phillips 66 by 1,929.0% in the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after acquiring an additional 14,950,000 shares in the last quarter. Valeo Financial Advisors LLC lifted its stake in shares of Phillips 66 by 9,530.9% in the second quarter. Valeo Financial Advisors LLC now owns 1,446,469 shares of the oil and gas company’s stock worth $172,564,000 after buying an additional 1,431,450 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Phillips 66 in the first quarter worth $156,482,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Phillips 66 by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock worth $828,442,000 after buying an additional 682,459 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Phillips 66 by 15.9% in the first quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock worth $588,489,000 after buying an additional 653,248 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Sigmund L. Cornelius acquired 500 shares of the company’s stock in a transaction dated Thursday, July 31st. The stock was bought at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the purchase, the director owned 21,543 shares in the company, valued at $2,661,637.65. This represents a 2.38% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Gregory Hayes acquired 8,350 shares of the company’s stock in a transaction dated Thursday, August 14th. The stock was acquired at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the purchase, the director owned 29,423 shares in the company, valued at approximately $3,527,817.70. This represents a 39.62% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 9,850 shares of company stock worth $1,188,910. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Mizuho boosted their price objective on shares of Phillips 66 from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Monday, September 15th. TD Cowen boosted their price objective on shares of Phillips 66 from $130.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Evercore ISI boosted their price objective on shares of Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. Weiss Ratings restated a “hold (c)” rating on shares of Phillips 66 in a research note on Wednesday. Finally, UBS Group upped their target price on shares of Phillips 66 from $143.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.75.

Phillips 66 Price Performance

NYSE:PSX opened at $127.01 on Friday. The stock has a market cap of $51.33 billion, a P/E ratio of 30.53, a PEG ratio of 1.92 and a beta of 1.11. Phillips 66 has a one year low of $91.01 and a one year high of $142.35. The company has a fifty day moving average price of $129.51 and a 200 day moving average price of $120.63. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The company had revenue of $33.77 billion during the quarter, compared to analysts’ expectations of $32.11 billion. During the same quarter in the prior year, the company posted $2.31 EPS. Analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be paid a $1.20 dividend. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.8%. Phillips 66’s dividend payout ratio is currently 115.38%.

About Phillips 66

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.