Retirement Systems of Alabama Has $12.91 Million Stock Position in Phillips 66 (NYSE:PSX)

Retirement Systems of Alabama decreased its stake in shares of Phillips 66 (NYSE:PSX) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,961 shares of the oil and gas company’s stock after selling 3,722 shares during the period. Retirement Systems of Alabama’s holdings in Phillips 66 were worth $12,909,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PSX. Cornerstone Planning Group LLC lifted its position in Phillips 66 by 134.8% during the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after buying an additional 151 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new position in Phillips 66 during the 4th quarter valued at about $36,000. Bell Investment Advisors Inc lifted its position in Phillips 66 by 82.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 138 shares during the period. West Branch Capital LLC lifted its position in Phillips 66 by 49.5% during the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 91 shares during the period. Finally, Headinvest LLC acquired a new position in Phillips 66 during the 3rd quarter valued at about $51,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PSX. JPMorgan Chase & Co. upped their target price on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. The Goldman Sachs Group upped their price target on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Raymond James upped their price target on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Piper Sandler upped their price target on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Finally, Bank of America upped their price target on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.43.

Phillips 66 Price Performance

NYSE PSX opened at $140.17 on Thursday. The business has a 50 day simple moving average of $155.67 and a 200 day simple moving average of $137.76. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.02 and a current ratio of 1.17. The stock has a market cap of $59.43 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 1.82 and a beta of 1.41.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The firm had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. During the same period last year, the company earned $4.21 EPS. Analysts anticipate that Phillips 66 will post 13.13 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a dividend of $1.15 per share. The ex-dividend date is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a yield of 3.28%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is 32.31%.

Insiders Place Their Bets

In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. Insiders sold a total of 35,056 shares of company stock valued at $5,272,681 in the last quarter. 0.22% of the stock is currently owned by insiders.

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.