Maryland State Retirement & Pension System Reduces Stock Holdings in Phillips 66 (NYSE:PSX)

Maryland State Retirement & Pension System lowered its position in Phillips 66 (NYSE:PSX) by 9.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 22,043 shares of the oil and gas company’s stock after selling 2,221 shares during the period. Maryland State Retirement & Pension System’s holdings in Phillips 66 were worth $2,511,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PSX. Bogart Wealth LLC increased its position in shares of Phillips 66 by 120.0% in the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 120 shares in the last quarter. J.Safra Asset Management Corp purchased a new stake in Phillips 66 during the 4th quarter worth about $25,000. Stephens Consulting LLC increased its position in Phillips 66 by 83.5% during the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 111 shares in the last quarter. Human Investing LLC purchased a new stake in Phillips 66 during the 4th quarter worth about $30,000. Finally, Webster Bank N. A. increased its position in Phillips 66 by 48.4% during the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PSX. StockNews.com cut Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. Barclays lifted their price objective on Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Mizuho dropped their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Finally, Wells Fargo & Company lifted their price target on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $149.43.

Phillips 66 Stock Performance

NYSE PSX opened at $128.78 on Friday. The firm has a market capitalization of $52.50 billion, a P/E ratio of 26.07, a P/E/G ratio of 4.84 and a beta of 1.31. Phillips 66 has a 1-year low of $108.91 and a 1-year high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The business’s 50-day simple moving average is $123.88 and its 200-day simple moving average is $125.81.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period last year, the business earned $3.09 EPS. Equities analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Phillips 66 Profile

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.