Phillips 66 (PSX) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its holdings in Phillips 66 (NYSE:PSX) by 0.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 195,347 shares of the oil and gas company’s stock after selling 1,625 shares during the quarter. Retirement Systems of Alabama’s holdings in Phillips 66 were worth $18,591,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in Phillips 66 by 0.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,429,513 shares of the oil and gas company’s stock worth $724,735,000 after purchasing an additional 36,370 shares during the last quarter. Martingale Asset Management L P raised its holdings in Phillips 66 by 513.4% during the 3rd quarter. Martingale Asset Management L P now owns 16,622 shares of the oil and gas company’s stock worth $1,874,000 after purchasing an additional 13,912 shares during the last quarter. Vident Investment Advisory LLC raised its holdings in Phillips 66 by 74.0% during the 3rd quarter. Vident Investment Advisory LLC now owns 6,536 shares of the oil and gas company’s stock worth $737,000 after purchasing an additional 2,779 shares during the last quarter. Man Group plc raised its holdings in Phillips 66 by 73.9% during the 3rd quarter. Man Group plc now owns 138,922 shares of the oil and gas company’s stock worth $15,659,000 after purchasing an additional 59,028 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in Phillips 66 by 15.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 256,704 shares of the oil and gas company’s stock worth $28,936,000 after purchasing an additional 34,131 shares during the last quarter. 71.30% of the stock is owned by institutional investors and hedge funds.

Phillips 66 stock opened at $95.98 on Wednesday. The stock has a market cap of $43.73 billion, a PE ratio of 8.20, a P/E/G ratio of 1.43 and a beta of 0.94. Phillips 66 has a 1 year low of $78.44 and a 1 year high of $123.97. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.48 and a quick ratio of 1.08.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, February 8th. The oil and gas company reported $4.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.76 by $2.11. Phillips 66 had a return on equity of 21.71% and a net margin of 4.90%. The company had revenue of $29.84 billion during the quarter, compared to analyst estimates of $35.51 billion. During the same period in the previous year, the company earned $1.07 EPS. Equities analysts forecast that Phillips 66 will post 7.92 EPS for the current year.

In related news, Chairman Greg C. Garland sold 42,728 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $97.61, for a total value of $4,170,680.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is currently owned by insiders.

Several analysts have weighed in on PSX shares. Jefferies Financial Group raised Phillips 66 from a “hold” rating to a “buy” rating in a report on Thursday, December 20th. Raymond James dropped their price objective on Phillips 66 from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, December 31st. Tudor Pickering raised Phillips 66 from a “hold” rating to a “buy” rating in a report on Friday, February 8th. Citigroup boosted their target price on Phillips 66 from $100.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Finally, Piper Jaffray Companies restated an “overweight” rating on shares of Phillips 66 in a research report on Thursday, January 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Phillips 66 currently has an average rating of “Hold” and a consensus price target of $120.18.

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Phillips 66 Profile

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 products to market; provides terminaling and storage services for crude oil and 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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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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