Mather Group LLC. Lowers Position in Phillips 66 (NYSE:PSX)

Mather Group LLC. lowered its holdings in Phillips 66 (NYSE:PSX) by 13.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 15,231 shares of the oil and gas company’s stock after selling 2,459 shares during the quarter. Mather Group LLC.’s holdings in Phillips 66 were worth $2,028,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new position in shares of Phillips 66 during the 4th quarter valued at about $254,336,000. Bank of New York Mellon Corp raised its holdings in shares of Phillips 66 by 12.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,570,590 shares of the oil and gas company’s stock valued at $549,156,000 after buying an additional 502,785 shares in the last quarter. Bahl & Gaynor Inc. raised its holdings in shares of Phillips 66 by 41.2% during the 3rd quarter. Bahl & Gaynor Inc. now owns 1,506,861 shares of the oil and gas company’s stock valued at $181,049,000 after buying an additional 439,360 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Phillips 66 by 1,038.3% during the 3rd quarter. Acadian Asset Management LLC now owns 472,208 shares of the oil and gas company’s stock valued at $56,720,000 after buying an additional 430,723 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Phillips 66 by 53.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,214,738 shares of the oil and gas company’s stock valued at $145,951,000 after buying an additional 421,714 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

PSX has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Wells Fargo & Company lifted their price target on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. StockNews.com cut Phillips 66 from a “buy” rating to a “hold” rating in a research note on Saturday. Barclays lifted their price target on Phillips 66 from $139.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Finally, Citigroup began coverage on Phillips 66 in a research note on Wednesday, January 24th. They issued a “buy” rating on the stock. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $158.00.

Phillips 66 Stock Up 0.1 %

Shares of NYSE:PSX opened at $151.52 on Tuesday. The stock has a fifty day simple moving average of $155.70 and a two-hundred day simple moving average of $137.52. The stock has a market capitalization of $64.82 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 1.83 and a beta of 1.37. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56.

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). The company had revenue of $36.44 billion for the quarter, compared to analysts’ expectations of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.07%. During the same quarter in the previous year, the firm posted $4.21 EPS. On average, research analysts anticipate that Phillips 66 will post 13.77 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a $1.15 dividend. The ex-dividend date is Friday, May 17th. This represents a $4.60 annualized dividend and a dividend yield of 3.04%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is currently 32.31%.

Insider Transactions at Phillips 66

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the business’s stock in a transaction on 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Robert W. Pease purchased 682 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was acquired at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the acquisition, the director now owns 1,900 shares of the company’s stock, valued at approximately $278,502. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Joseph Scott Pruitt sold 7,200 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value of $1,132,272.00. Following the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. Insiders sold 35,056 shares of company stock worth $5,272,681 over the last quarter. 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.