Retirement Systems of Alabama Sells 3,722 Shares of Phillips 66 (NYSE:PSX)

Retirement Systems of Alabama lowered its stake in shares of Phillips 66 (NYSE:PSX) by 3.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 96,961 shares of the oil and gas company’s stock after selling 3,722 shares during the quarter. Retirement Systems of Alabama’s holdings in Phillips 66 were worth $12,909,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Cornerstone Planning Group LLC boosted its position in Phillips 66 by 134.8% in the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 151 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new position in Phillips 66 in the fourth quarter worth $36,000. West Branch Capital LLC boosted its position in Phillips 66 by 49.5% in the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 91 shares during the last quarter. Bell Investment Advisors Inc boosted its position in Phillips 66 by 82.1% in the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 138 shares during the last quarter. Finally, Headinvest LLC purchased a new position in Phillips 66 in the third quarter worth $51,000. Institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Raymond James boosted their price objective on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. The Goldman Sachs Group boosted their price objective on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. StockNews.com cut Phillips 66 from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th. Scotiabank upped their price target on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Finally, 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 report on Friday, April 5th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $157.43.

Phillips 66 Stock Performance

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

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

Phillips 66 Increases Dividend

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

Insiders Place Their Bets

In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $3,648,120.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $3,648,120.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the completion of the transaction, the vice president now owns 6,583 shares in the company, valued at $1,035,242.58. The disclosure for this sale can be found here. Insiders have sold 35,056 shares of company stock worth $5,272,681 in the last ninety days. 0.22% of the stock is currently owned by insiders.

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.