Retirement Systems of Alabama decreased its stake in Phillips 66 (NYSE:PSX) by 2.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 522,826 shares of the company’s stock after selling 13,696 shares during the period. Retirement Systems of Alabama owned approximately 0.10% of Phillips 66 worth $42,114,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of PSX. Cribstone Capital Management LLC acquired a new position in Phillips 66 during the second quarter worth $114,000. Argentus Capital Management LLC raised its position in Phillips 66 by 17.7% in the third quarter. Argentus Capital Management LLC now owns 1,579 shares of the company’s stock worth $127,000 after buying an additional 237 shares during the period. Winfield Associates Inc. raised its position in Phillips 66 by 1.5% in the third quarter. Winfield Associates Inc. now owns 1,655 shares of the company’s stock worth $133,000 after buying an additional 25 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its position in Phillips 66 by 2,762.7% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,460 shares of the company’s stock worth $138,000 after buying an additional 1,409 shares during the period. Finally, Delphi Private Advisors LLC raised its position in Phillips 66 by 1.0% in the second quarter. Delphi Private Advisors LLC now owns 1,781 shares of the company’s stock worth $141,000 after buying an additional 18 shares during the period. 68.27% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of Phillips 66 (NYSE:PSX) traded down 1.15% during trading on Tuesday, reaching $83.12. 165,559 shares of the company traded hands. The company’s 50-day moving average price is $81.36 and its 200-day moving average price is $79.18. Phillips 66 has a 52 week low of $71.74 and a 52 week high of $93.00. The company has a market capitalization of $43.29 billion, a P/E ratio of 21.76 and a beta of 1.35.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, October 28th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.17. Phillips 66 had a net margin of 2.43% and a return on equity of 8.86%. During the same period in the previous year, the business posted $3.02 EPS. Equities research analysts forecast that Phillips 66 will post $3.42 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Thursday, November 17th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Tuesday, November 15th. Phillips 66’s dividend payout ratio is currently 66.14%.

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PSX has been the topic of a number of recent research reports. Morgan Stanley reaffirmed a “hold” rating on shares of Phillips 66 in a research note on Monday, August 1st. Cowen and Company raised shares of Phillips 66 from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $76.15 to $92.00 in a research note on Wednesday, August 3rd. Vetr lowered shares of Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $87.83 price objective on the stock. in a research note on Monday, August 8th. Piper Jaffray Cos. raised their price objective on shares of Phillips 66 from $68.00 to $74.00 and gave the company a “neutral” rating in a research note on Monday, August 22nd. Finally, Jefferies Group initiated coverage on shares of Phillips 66 in a research note on Tuesday, August 23rd. They issued a “hold” rating and a $72.00 price objective on the stock. Fourteen analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $86.12.

In related news, major shareholder Berkshire Hathaway Inc bought 82,361 shares of the stock in a transaction on Thursday, September 1st. The shares were acquired at an average price of $77.86 per share, for a total transaction of $6,412,627.46. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Greg C. Garland sold 76,165 shares of the company’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $83.48, for a total transaction of $6,358,254.20. Following the transaction, the chairman now owns 96,325 shares in the company, valued at approximately $8,041,211. The disclosure for this sale can be found here. Company insiders own 0.05% of the company’s stock.

Phillips 66 Company Profile

Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing, and specialties businesses. The Company operates its business through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment includes its equity investment in DCP Midstream , LLC (DCP Midstream) and its investment in Phillips 66 Partners LP.

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