Louisiana State Employees Retirement System Has $3.10 Million Stock Position in Phillips 66 (NYSE:PSX)

Louisiana State Employees Retirement System reduced its position in Phillips 66 (NYSE:PSX) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,600 shares of the oil and gas company’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Phillips 66 were worth $3,102,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Crewe Advisors LLC bought a new stake in Phillips 66 during the 1st quarter worth approximately $25,000. Keener Financial Planning LLC bought a new stake in Phillips 66 in the first quarter worth about $26,000. Strategic Financial Concepts LLC purchased a new position in Phillips 66 in the second quarter valued at approximately $26,000. nVerses Capital LLC purchased a new position in shares of Phillips 66 during the 3rd quarter valued at $26,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Phillips 66 in the 1st quarter valued at about $28,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the transaction, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PSX has been the subject of a number of research reports. Wolfe Research began coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Bank of America started coverage on Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. Wells Fargo & Company reduced their price target on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Raymond James increased their price objective on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, Piper Sandler set a $144.00 price target on Phillips 66 in a research report on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus target price of $149.50.

Phillips 66 Price Performance

PSX stock opened at $128.17 on Monday. The firm has a 50 day simple moving average of $132.43 and a two-hundred day simple moving average of $138.85. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The stock has a market cap of $54.34 billion, a PE ratio of 9.86, a P/E/G ratio of 5.61 and a beta of 1.33. Phillips 66 has a one year low of $107.85 and a one year high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. During the same quarter last year, the business posted $3.87 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, analysts predict that Phillips 66 will post 7.81 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.59%. Phillips 66’s dividend payout ratio is 35.38%.

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.