Mather Group LLC. Has $2.03 Million Stock Position in Phillips 66 (NYSE:PSX)

Mather Group LLC. trimmed its position in Phillips 66 (NYSE:PSX) by 13.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSX. Cornerstone Planning Group LLC increased its position in Phillips 66 by 134.8% in the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 151 shares during the period. Bruce G. Allen Investments LLC bought a new position in Phillips 66 during the fourth quarter worth about $36,000. Bell Investment Advisors Inc boosted its holdings in Phillips 66 by 82.1% during the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after buying an additional 138 shares during the last quarter. West Branch Capital LLC boosted its holdings in Phillips 66 by 49.5% during the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after buying an additional 91 shares during the last quarter. Finally, Headinvest LLC bought a new position in Phillips 66 during the third quarter worth about $51,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PSX shares. JPMorgan Chase & Co. raised 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. Raymond James raised their target price on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Bank of America lifted their price objective on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Piper Sandler lifted their price objective on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Finally, Mizuho dropped their target price on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $158.00.

Phillips 66 Stock Up 0.1 %

PSX stock opened at $151.52 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $64.82 billion, a PE ratio of 11.66, a PEG ratio of 1.83 and a beta of 1.37. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08. The business’s 50 day simple moving average is $155.70 and its 200 day simple moving average is $137.52.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The firm had revenue of $36.44 billion during the quarter, compared to the consensus estimate 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 last year, the firm earned $4.21 earnings per share. As a group, research analysts anticipate that Phillips 66 will post 13.77 EPS for the current year.

Phillips 66 Increases Dividend

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

Insider Activity at Phillips 66

In other news, Director Robert W. Pease purchased 682 shares of Phillips 66 stock in a transaction that occurred on Thursday, February 15th. The stock was acquired at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the purchase, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $278,502. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert W. Pease bought 682 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were bought at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the transaction, the director now owns 1,900 shares in the company, valued at approximately $278,502. The disclosure for this purchase can be found here. Insiders sold 35,056 shares of company stock worth $5,272,681 in the last ninety days. 0.22% of the stock is owned by company insiders.

Phillips 66 Company Profile

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.