Phillips 66 (PSX) Holdings Cut by Louisiana State Employees Retirement System

Share on StockTwits

Louisiana State Employees Retirement System lowered its stake in shares of Phillips 66 (NYSE:PSX) by 0.9% during the first quarter, Holdings Channel reports. The institutional investor owned 22,100 shares of the oil and gas company’s stock after selling 200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Phillips 66 were worth $2,103,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in shares of Phillips 66 by 0.6% during the third quarter. Bank of New York Mellon Corp now owns 6,429,513 shares of the oil and gas company’s stock worth $724,735,000 after buying an additional 36,370 shares in the last quarter. Martingale Asset Management L P grew its holdings in shares of Phillips 66 by 513.4% during the third quarter. Martingale Asset Management L P now owns 16,622 shares of the oil and gas company’s stock worth $1,874,000 after buying an additional 13,912 shares in the last quarter. Vident Investment Advisory LLC grew its holdings in shares of Phillips 66 by 74.0% during the third quarter. Vident Investment Advisory LLC now owns 6,536 shares of the oil and gas company’s stock worth $737,000 after buying an additional 2,779 shares in the last quarter. Man Group plc grew its holdings in shares of Phillips 66 by 73.9% during the third quarter. Man Group plc now owns 138,922 shares of the oil and gas company’s stock worth $15,659,000 after buying an additional 59,028 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Phillips 66 by 15.3% during the third quarter. Thrivent Financial for Lutherans now owns 256,704 shares of the oil and gas company’s stock worth $28,936,000 after buying an additional 34,131 shares in the last quarter. Hedge funds and other institutional investors own 71.30% of the company’s stock.

A number of brokerages have recently commented on PSX. Jefferies Financial Group downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating and lifted their price target for the stock from $105.00 to $107.00 in a report on Monday. Citigroup boosted their target price on shares of Phillips 66 from $100.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, March 4th. ValuEngine downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Monday. Argus lowered their target price on shares of Phillips 66 to $116.00 and set a “buy” rating for the company in a report on Thursday, February 14th. Finally, Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Friday, February 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Phillips 66 has a consensus rating of “Hold” and a consensus target price of $120.18.

Phillips 66 stock opened at $96.24 on Tuesday. Phillips 66 has a 1 year low of $78.44 and a 1 year high of $123.97. The company has a market capitalization of $44.15 billion, a P/E ratio of 8.22, a P/E/G ratio of 1.44 and a beta of 0.94. The company has a quick ratio of 1.08, a current ratio of 1.48 and a debt-to-equity ratio of 0.41.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, February 8th. The oil and gas company reported $4.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $2.11. Phillips 66 had a net margin of 4.90% and a return on equity of 21.71%. The firm had revenue of $29.84 billion during the quarter, compared to the consensus estimate of $35.51 billion. During the same period in the previous year, the firm earned $1.07 earnings per share. On average, research analysts predict that Phillips 66 will post 7.95 earnings per share for the current year.

In related news, Chairman Greg C. Garland sold 42,728 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $97.61, for a total value of $4,170,680.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is currently owned by insiders.

TRADEMARK VIOLATION WARNING: “Phillips 66 (PSX) Holdings Cut by Louisiana State Employees Retirement System” was reported by Macon Daily and is the property of of Macon Daily. If you are accessing this piece of content on another site, it was stolen and reposted in violation of United States & international trademark and copyright legislation. The legal version of this piece of content can be read at https://macondaily.com/2019/04/16/phillips-66-psx-holdings-cut-by-louisiana-state-employees-retirement-system.html.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

Recommended Story: Reverse Stock Split

Want to see what other hedge funds are holding PSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 (NYSE:PSX).

Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.