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

Chatham Capital Group Inc. reduced its stake in shares of Phillips 66 (NYSE:PSX) by 1.0% in the 1st quarter, HoldingsChannel reports. The firm owned 33,155 shares of the oil and gas company’s stock after selling 325 shares during the quarter. Chatham Capital Group Inc.’s holdings in Phillips 66 were worth $4,094,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PSX. Oppenheimer & Co. Inc. raised its holdings in shares of Phillips 66 by 10.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock worth $5,349,000 after acquiring an additional 4,515 shares during the last quarter. Corps Capital Advisors LLC acquired a new position in Phillips 66 in the fourth quarter valued at $412,000. Cohen & Steers Inc. lifted its position in Phillips 66 by 40.3% during the fourth quarter. Cohen & Steers Inc. now owns 91,663 shares of the oil and gas company’s stock worth $10,443,000 after buying an additional 26,318 shares during the period. American Assets Investment Management LLC lifted its position in Phillips 66 by 2.3% during the fourth quarter. American Assets Investment Management LLC now owns 130,800 shares of the oil and gas company’s stock worth $14,902,000 after buying an additional 3,000 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its stake in Phillips 66 by 71.3% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 21,231 shares of the oil and gas company’s stock worth $2,419,000 after buying an additional 8,838 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

PSX opened at $112.46 on Thursday. The stock’s 50 day simple moving average is $108.65 and its 200-day simple moving average is $118.26. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock has a market cap of $45.82 billion, a PE ratio of 22.77, a P/E/G ratio of 4.84 and a beta of 1.01. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $150.12.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. The business had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. During the same period last year, the firm earned $1.90 EPS. Sell-side analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a $1.20 dividend. The ex-dividend date was Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a yield of 4.27%. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s payout ratio is presently 109.34%.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Monday, April 28th. UBS Group lowered their price target on Phillips 66 from $144.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Scotiabank decreased their price target on shares of Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Friday, April 11th. Barclays upped their target price on Phillips 66 from $106.00 to $115.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. Finally, Mizuho upped their price objective on Phillips 66 from $132.00 to $138.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 13th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $135.62.

Insider Buying and Selling

In related news, Director Robert W. Pease acquired 439 shares of the firm’s stock in a transaction on Thursday, May 22nd. The shares were bought at an average cost of $113.85 per share, with a total value of $49,980.15. Following the completion of the acquisition, the director now owns 4,091 shares of the company’s stock, valued at $465,760.35. This trade represents a 12.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.22% of the company’s stock.

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.