Retirement Systems of Alabama Reduces Position in Phillips 66 (PSX)
Retirement Systems of Alabama reduced its holdings in Phillips 66 (NYSE:PSX) by 49.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,698 shares of the oil and gas company’s stock after selling 207,195 shares during the quarter. Retirement Systems of Alabama’s holdings in Phillips 66 were worth $17,588,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PSX. Waldron LP raised its holdings in shares of Phillips 66 by 14.5% in the 1st quarter. Waldron LP now owns 3,151 shares of the oil and gas company’s stock worth $251,000 after purchasing an additional 399 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Phillips 66 by 26.1% in the first quarter. Russell Investments Group Ltd. now owns 887,432 shares of the oil and gas company’s stock worth $70,299,000 after acquiring an additional 183,659 shares in the last quarter. Asset Advisors Corp increased its position in shares of Phillips 66 by 1.7% in the first quarter. Asset Advisors Corp now owns 35,875 shares of the oil and gas company’s stock worth $2,842,000 after acquiring an additional 600 shares in the last quarter. Financial Architects Inc increased its position in shares of Phillips 66 by 83.0% in the first quarter. Financial Architects Inc now owns 2,381 shares of the oil and gas company’s stock worth $189,000 after acquiring an additional 1,080 shares in the last quarter. Finally, IFP Advisors Inc increased its position in shares of Phillips 66 by 0.6% in the first quarter. IFP Advisors Inc now owns 35,648 shares of the oil and gas company’s stock worth $2,824,000 after acquiring an additional 201 shares in the last quarter. Institutional investors and hedge funds own 69.57% of the company’s stock.
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Phillips 66 (NYSE:PSX) opened at 84.70 on Friday. The stock has a market capitalization of $43.32 billion, a P/E ratio of 25.33 and a beta of 1.20. The company’s 50-day moving average is $83.77 and its 200-day moving average is $80.18. Phillips 66 has a 12 month low of $75.14 and a 12 month high of $88.87.
Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.02 by $0.07. The firm had revenue of $24.58 billion for the quarter, compared to the consensus estimate of $25.14 billion. Phillips 66 had a net margin of 1.87% and a return on equity of 6.29%. During the same period last year, the company posted $0.94 EPS. Equities analysts anticipate that Phillips 66 will post $4.07 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $2.80 annualized dividend and a yield of 3.31%. Phillips 66’s dividend payout ratio (DPR) is currently 83.58%.
Several research analysts have recently weighed in on the stock. Jefferies Group LLC set a $74.00 target price on shares of Phillips 66 and gave the stock a “hold” rating in a research report on Saturday, June 3rd. Scotiabank reissued a “hold” rating on shares of Phillips 66 in a research report on Friday. BidaskClub raised shares of Phillips 66 from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Barclays PLC reissued an “equal weight” rating and issued a $89.00 target price (up from $87.00) on shares of Phillips 66 in a research report on Wednesday, August 2nd. Finally, TheStreet downgraded shares of Phillips 66 from a “b-” rating to a “c” rating in a research report on Monday, June 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $83.93.
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 through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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