Chatham Capital Group Inc. Cuts Holdings in Phillips 66 (NYSE:PSX)

Chatham Capital Group Inc. lessened its holdings in Phillips 66 (NYSE:PSX) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,095 shares of the oil and gas company’s stock after selling 1,305 shares during the period. Chatham Capital Group Inc.’s holdings in Phillips 66 were worth $5,569,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Phillips 66 during the 4th quarter worth about $27,000. First United Bank & Trust purchased a new position in shares of Phillips 66 in the fourth quarter valued at approximately $31,000. Rise Advisors LLC purchased a new stake in shares of Phillips 66 during the first quarter worth approximately $40,000. Signature Resources Capital Management LLC acquired a new position in Phillips 66 in the 4th quarter valued at $33,000. Finally, Bruce G. Allen Investments LLC purchased a new position in Phillips 66 in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on PSX. The Goldman Sachs Group raised their price target on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. boosted their target price on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Scotiabank increased their price target on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Wells Fargo & Company upped their target price on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Finally, Piper Sandler reduced their price target on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.79.

Insider Activity at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the sale, the executive vice president now owns 48,365 shares of the company’s stock, valued at $7,051,617. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Trading Up 1.3 %

Shares of Phillips 66 stock traded up $1.77 on Friday, reaching $141.17. The company had a trading volume of 10,211,532 shares, compared to its average volume of 2,338,853. The firm’s 50 day moving average price is $142.91 and its two-hundred day moving average price is $144.83. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. Phillips 66 has a 52-week low of $93.40 and a 52-week high of $174.08. The firm has a market cap of $59.85 billion, a PE ratio of 10.86, a PEG ratio of 2.12 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last announced its earnings results 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 analysts’ expectations of $35.87 billion. During the same period in the previous year, the firm earned $4.21 EPS. Sell-side analysts predict that Phillips 66 will post 11.08 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were paid a dividend of $1.15 per share. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date was Friday, May 17th. This represents a $4.60 annualized dividend and a yield of 3.26%. Phillips 66’s dividend payout ratio is presently 35.38%.

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.