Phillips 66 (PSX) Shares Sold by Chatham Capital Group Inc.

Chatham Capital Group Inc. lessened its stake in Phillips 66 (NYSE:PSX) by 1.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,819 shares of the oil and gas company’s stock after selling 650 shares during the period. Phillips 66 makes up approximately 1.6% of Chatham Capital Group Inc.’s holdings, making the stock its 22nd largest position. Chatham Capital Group Inc.’s holdings in Phillips 66 were worth $6,026,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Waters Parkerson & CO. LLC grew its position in Phillips 66 by 14.0% in the 1st quarter. Waters Parkerson & CO. LLC now owns 3,584 shares of the oil and gas company’s stock worth $344,000 after purchasing an additional 440 shares during the period. Atria Investments LLC grew its position in Phillips 66 by 15.2% in the 1st quarter. Atria Investments LLC now owns 3,364 shares of the oil and gas company’s stock worth $323,000 after purchasing an additional 445 shares during the period. Buckley Wealth Management LLC grew its position in Phillips 66 by 4.0% in the 1st quarter. Buckley Wealth Management LLC now owns 11,780 shares of the oil and gas company’s stock worth $1,130,000 after purchasing an additional 449 shares during the period. Riverhead Capital Management LLC grew its position in Phillips 66 by 2.5% in the 1st quarter. Riverhead Capital Management LLC now owns 18,188 shares of the oil and gas company’s stock worth $1,744,000 after purchasing an additional 450 shares during the period. Finally, Pendal Group Ltd grew its position in Phillips 66 by 20.3% in the 1st quarter. Pendal Group Ltd now owns 2,712 shares of the oil and gas company’s stock worth $260,000 after purchasing an additional 458 shares during the period. 77.73% of the stock is owned by institutional investors and hedge funds.

Shares of PSX stock opened at $121.87 on Friday. Phillips 66 has a 1 year low of $116.15 and a 1 year high of $118.00. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.48. The firm has a market cap of $55.12 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 1.96 and a beta of 1.07.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 27th. The oil and gas company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13. Phillips 66 had a net margin of 4.85% and a return on equity of 10.00%. The company had revenue of $24.05 billion for the quarter, compared to analysts’ expectations of $29.23 billion. During the same quarter in the previous year, the company earned $0.56 EPS. sell-side analysts forecast that Phillips 66 will post 7.11 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Monday, May 21st will be paid a dividend of $0.80 per share. This is a boost from Phillips 66’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, May 18th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.63%. Phillips 66’s payout ratio is 63.93%.

A number of equities research analysts have commented on PSX shares. Cowen reaffirmed an “outperform” rating and issued a $137.00 target price (up previously from $125.00) on shares of Phillips 66 in a research report on Wednesday, February 14th. Citigroup cut their target price on shares of Phillips 66 from $110.00 to $103.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. JPMorgan Chase boosted their price objective on shares of Phillips 66 from $108.00 to $109.00 and gave the company a “neutral” rating in a research report on Monday, April 9th. ValuEngine downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Finally, Piper Jaffray reissued a “buy” rating and set a $115.00 price objective on shares of Phillips 66 in a research report on Monday, January 22nd. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $106.19.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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