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

Chatham Capital Group Inc. cut its position in Phillips 66 (NYSE:PSX) by 3.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund 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 SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Madison Park Capital Advisors LLC lifted its stake in Phillips 66 by 3.0% during the 1st quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock valued at $383,000 after acquiring an additional 68 shares during the period. Warwick Investment Management Inc. boosted its holdings in Phillips 66 by 3.1% in the fourth quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock worth $319,000 after purchasing an additional 73 shares during the last quarter. HCR Wealth Advisors grew its position in Phillips 66 by 2.9% in the 4th quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock worth $351,000 after purchasing an additional 74 shares during the period. Nvwm LLC raised its stake in Phillips 66 by 0.9% during the 4th quarter. Nvwm LLC now owns 8,286 shares of the oil and gas company’s stock valued at $1,103,000 after buying an additional 75 shares during the last quarter. Finally, Cardinal Capital Management lifted its holdings in shares of Phillips 66 by 0.3% during the 4th quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company’s stock valued at $3,104,000 after buying an additional 77 shares during the period. Institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of the company’s 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 directly owns 48,365 shares in the company, valued at approximately $7,051,617. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.22% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. Raymond James reduced their price objective on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. Wells Fargo & Company increased their price objective on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. TD Cowen cut their target price on shares of Phillips 66 from $164.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, June 21st. JPMorgan Chase & Co. increased their price target on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Finally, Piper Sandler cut their price objective on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $157.79.

Phillips 66 Price Performance

PSX traded up $1.77 during trading on Friday, hitting $141.17. 10,211,532 shares of the company traded hands, compared to its average volume of 2,338,853. The company has a market cap of $59.85 billion, a PE ratio of 10.86, a P/E/G ratio of 2.12 and a beta of 1.37. Phillips 66 has a 1 year low of $93.40 and a 1 year high of $174.08. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The stock’s 50-day simple moving average is $142.91 and its two-hundred day simple moving average is $144.83.

Phillips 66 (NYSE:PSX) last issued its 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). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The firm had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. During the same period last year, the firm posted $4.21 earnings per share. As a group, sell-side analysts anticipate 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. Stockholders of record on Monday, May 20th were given a dividend of $1.15 per share. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Friday, May 17th. Phillips 66’s dividend payout ratio is currently 35.38%.

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.