Retirement Systems of Alabama boosted its holdings in Phillips 66 (NYSE:PSX – Get Rating) by 6.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 155,014 shares of the oil and gas company’s stock after buying an additional 9,827 shares during the quarter. Retirement Systems of Alabama’s holdings in Phillips 66 were worth $13,392,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of PSX. Capital Investment Advisors LLC raised its position in Phillips 66 by 6.7% in the 4th quarter. Capital Investment Advisors LLC now owns 3,693 shares of the oil and gas company’s stock worth $268,000 after buying an additional 231 shares during the last quarter. Stonnington Group LLC bought a new stake in shares of Phillips 66 during the 4th quarter valued at about $554,000. Diversified Trust Co bought a new stake in shares of Phillips 66 during the 4th quarter valued at about $618,000. Stock Yards Bank & Trust Co. grew its stake in shares of Phillips 66 by 12.7% during the 4th quarter. Stock Yards Bank & Trust Co. now owns 10,811 shares of the oil and gas company’s stock valued at $783,000 after purchasing an additional 1,220 shares during the period. Finally, Wedbush Securities Inc. grew its stake in shares of Phillips 66 by 6.1% during the 4th quarter. Wedbush Securities Inc. now owns 19,935 shares of the oil and gas company’s stock valued at $1,444,000 after purchasing an additional 1,138 shares during the period. 64.28% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on PSX shares. StockNews.com upgraded Phillips 66 from a “hold” rating to a “buy” rating in a research note on Thursday, May 5th. Citigroup started coverage on Phillips 66 in a research note on Tuesday, April 26th. They issued a “neutral” rating and a $89.00 price target for the company. Wells Fargo & Company upped their price target on Phillips 66 from $114.00 to $127.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 14th. Credit Suisse Group upped their price objective on Phillips 66 to $122.00 in a report on Thursday, June 9th. Finally, JPMorgan Chase & Co. upped their price objective on Phillips 66 from $102.00 to $112.00 in a report on Tuesday, May 17th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $104.75.
Shares of PSX opened at $84.37 on Monday. The company has a current ratio of 1.13, a quick ratio of 0.87 and a debt-to-equity ratio of 0.59. Phillips 66 has a 12 month low of $63.19 and a 12 month high of $111.28. The stock’s 50 day moving average is $94.70 and its two-hundred day moving average is $87.02. The firm has a market cap of $40.59 billion, a P/E ratio of 14.70, a PEG ratio of 0.55 and a beta of 1.44.
Phillips 66 (NYSE:PSX – Get Rating) last issued its quarterly earnings results on Friday, April 29th. The oil and gas company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.18. The firm had revenue of $36.72 billion for the quarter, compared to analyst estimates of $34.86 billion. Phillips 66 had a return on equity of 17.07% and a net margin of 1.97%. During the same period in the previous year, the company posted ($1.16) earnings per share. Equities research analysts forecast that Phillips 66 will post 12.63 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Monday, May 23rd were paid a $0.97 dividend. The ex-dividend date of this dividend was Friday, May 20th. This is a positive change from Phillips 66’s previous quarterly dividend of $0.92. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.60%. Phillips 66’s payout ratio is currently 67.60%.
In other Phillips 66 news, CEO Greg C. Garland sold 146,700 shares of the business’s stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $109.70, for a total transaction of $16,092,990.00. Following the transaction, the chief executive officer now owns 656,563 shares of the company’s stock, valued at $72,024,961.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Timothy D. Roberts sold 59,100 shares of the business’s stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $110.21, for a total value of $6,513,411.00. Following the transaction, the executive vice president now directly owns 48,201 shares in the company, valued at approximately $5,312,232.21. The disclosure for this sale can be found here. Insiders sold 297,700 shares of company stock worth $32,327,782 over the last ninety days. Corporate insiders own 0.74% of the company’s stock.
Phillips 66 Profile (Get Rating)
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 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.
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