Kentucky Retirement Systems Insurance Trust Fund Sells 1,484 Shares of Phillips 66 (NYSE:PSX)

Kentucky Retirement Systems Insurance Trust Fund decreased its position in shares of Phillips 66 (NYSE:PSX) by 9.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,190 shares of the oil and gas company’s stock after selling 1,484 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Phillips 66 were worth $2,318,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Madison Park Capital Advisors LLC lifted its position in shares of Phillips 66 by 3.0% in the first quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock valued at $383,000 after buying an additional 68 shares during the last quarter. Premier Path Wealth Partners LLC boosted its position in Phillips 66 by 1.6% during the first quarter. Premier Path Wealth Partners LLC now owns 4,464 shares of the oil and gas company’s stock worth $729,000 after purchasing an additional 71 shares during the period. Warwick Investment Management Inc. boosted its position in Phillips 66 by 3.1% during the fourth quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock worth $319,000 after purchasing an additional 73 shares during the period. MV Capital Management Inc. raised its position in shares of Phillips 66 by 9.6% in the first quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock valued at $137,000 after purchasing an additional 73 shares during the period. Finally, HCR Wealth Advisors lifted its stake in shares of Phillips 66 by 2.9% during the 4th quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock worth $351,000 after buying an additional 74 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PSX has been the topic of a number of research reports. Wells Fargo & Company upped their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. TD Cowen lowered their target price on Phillips 66 from $164.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. JPMorgan Chase & Co. reduced their price target on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Mizuho lowered their price objective on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Finally, StockNews.com cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $158.23.

Phillips 66 Price Performance

PSX traded down $0.30 on Friday, hitting $142.21. 1,813,784 shares of the stock were exchanged, compared to its average volume of 2,186,005. The firm has a market capitalization of $60.29 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 2.36 and a beta of 1.34. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. Phillips 66 has a 12 month low of $107.41 and a 12 month high of $174.08. The business has a 50-day moving average of $139.14 and a two-hundred day moving average of $145.47.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). The firm had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same quarter in the previous year, the firm posted $4.21 earnings per share. Sell-side analysts forecast that Phillips 66 will post 10.06 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.23%. Phillips 66’s dividend payout ratio is currently 35.38%.

Insiders Place Their Bets

In other news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the transaction, the executive vice president now owns 48,365 shares in the company, valued at approximately $7,051,617. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.22% of the company’s stock.

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.