New Mexico Educational Retirement Board Has $2.27 Million Holdings in Phillips 66 (NYSE:PSX)

New Mexico Educational Retirement Board lessened its stake in Phillips 66 (NYSE:PSX) by 3.9% in the 4th quarter, HoldingsChannel reports. The fund owned 19,928 shares of the oil and gas company’s stock after selling 800 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Phillips 66 were worth $2,270,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSX. Mizuho Securities USA LLC increased its position in Phillips 66 by 7,549.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after acquiring an additional 2,467,316 shares in the last quarter. ING Groep NV increased its position in Phillips 66 by 123.2% in the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after acquiring an additional 653,032 shares in the last quarter. Bank of Montreal Can increased its position in Phillips 66 by 63.4% in the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock valued at $214,120,000 after acquiring an additional 633,970 shares in the last quarter. Mizuho Markets Americas LLC acquired a new stake in shares of Phillips 66 during the 3rd quarter worth approximately $70,983,000. Finally, Assenagon Asset Management S.A. grew its position in shares of Phillips 66 by 73.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 732,556 shares of the oil and gas company’s stock worth $96,294,000 after buying an additional 309,507 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX opened at $128.24 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a twelve month low of $108.90 and a twelve month high of $174.08. The firm’s 50 day moving average price is $118.74 and its two-hundred day moving average price is $127.45. The firm has a market cap of $52.96 billion, a P/E ratio of 25.96, a PEG ratio of 5.64 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the prior year, the business posted $3.09 earnings per share. On average, analysts forecast that Phillips 66 will post 7.14 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date is Monday, February 24th. Phillips 66’s payout ratio is currently 93.12%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research report on Friday, January 3rd. Barclays lowered their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Mizuho lowered their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Wells Fargo & Company lifted their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $148.00.

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.