Retirement Systems of Alabama Has $15.50 Million Holdings in Phillips 66 (NYSE:PSX)

Retirement Systems of Alabama decreased its position in Phillips 66 (NYSE:PSX) by 2.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,906 shares of the oil and gas company’s stock after selling 2,055 shares during the quarter. Retirement Systems of Alabama’s holdings in Phillips 66 were worth $15,502,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. DekaBank Deutsche Girozentrale boosted its stake in shares of Phillips 66 by 12.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock worth $26,501,000 after buying an additional 22,278 shares during the last quarter. Eldred Rock Partners LLC acquired a new position in shares of Phillips 66 during the 4th quarter worth about $10,402,000. TIAA Trust National Association boosted its stake in shares of Phillips 66 by 32.9% during the 4th quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock worth $1,973,000 after buying an additional 3,670 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Phillips 66 by 27.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock worth $6,470,000 after buying an additional 10,536 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in shares of Phillips 66 by 14.3% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 289,395 shares of the oil and gas company’s stock worth $38,530,000 after buying an additional 36,116 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Insider Transactions at Phillips 66

In related news, EVP Timothy D. Roberts sold 37,742 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the sale, the executive vice president now directly owns 48,365 shares in the company, valued at approximately $7,051,617. The sale was disclosed in a filing with the SEC, which is available through this link. 0.22% of the stock is owned by insiders.

Phillips 66 Price Performance

PSX stock traded down $1.97 during mid-day trading on Friday, hitting $138.40. The stock had a trading volume of 1,599,840 shares, compared to its average volume of 2,760,019. The firm has a fifty day simple moving average of $141.54 and a 200 day simple moving average of $144.92. Phillips 66 has a 52 week low of $94.51 and a 52 week high of $174.08. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $58.67 billion, a P/E ratio of 10.80, a P/E/G ratio of 2.13 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last announced 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). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The firm had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. During the same period last year, the business earned $4.21 earnings per share. As a group, research analysts forecast that Phillips 66 will post 10.99 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Bank of America raised their target price on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Barclays decreased their price target on shares of Phillips 66 from $147.00 to $142.00 and set an “equal weight” rating on the stock in a research note on Monday. Scotiabank raised their price objective on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Finally, Raymond James cut their price objective on shares of Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $157.07.

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.