Kentucky Retirement Systems Insurance Trust Fund Sells 1,281 Shares of Phillips 66 (NYSE:PSX)

Kentucky Retirement Systems Insurance Trust Fund reduced its stake in shares of Phillips 66 (NYSE:PSX) by 9.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,393 shares of the oil and gas company’s stock after selling 1,281 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Phillips 66 were worth $1,629,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSX. Crewe Advisors LLC acquired a new stake in shares of Phillips 66 in the first quarter valued at about $25,000. Strategic Financial Concepts LLC acquired a new stake in shares of Phillips 66 during the 2nd quarter worth approximately $26,000. nVerses Capital LLC bought a new stake in shares of Phillips 66 in the 3rd quarter valued at $26,000. Values First Advisors Inc. acquired a new position in shares of Phillips 66 during the 3rd quarter valued at $30,000. Finally, Bank & Trust Co bought a new position in Phillips 66 during the second quarter worth $31,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Trading Up 0.9 %

Shares of PSX opened at $130.91 on Friday. The firm has a market cap of $54.06 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 4.29 and a beta of 1.33. Phillips 66 has a fifty-two week low of $111.90 and a fifty-two week high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The business has a 50-day moving average of $129.75 and a 200 day moving average of $135.76.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.41. The company had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.63 earnings per share. As a group, research analysts forecast that Phillips 66 will post 7.63 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid 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 3.51%. Phillips 66’s payout ratio is 59.05%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PSX. JPMorgan Chase & Co. dropped their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Barclays cut their price target on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. UBS Group decreased their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. TD Cowen reduced their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Finally, Raymond James upped their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus target price of $149.69.

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.