Mather Group LLC. Purchases 13,551 Shares of Phillips 66 (NYSE:PSX)

Mather Group LLC. increased its stake in Phillips 66 (NYSE:PSX) by 143.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,995 shares of the oil and gas company’s stock after buying an additional 13,551 shares during the period. Mather Group LLC.’s holdings in Phillips 66 were worth $3,246,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale raised its holdings in shares of Phillips 66 by 12.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock valued at $26,501,000 after purchasing an additional 22,278 shares during the last quarter. Duality Advisers LP bought a new position in shares of Phillips 66 in the 1st quarter valued at about $3,596,000. Daiwa Securities Group Inc. boosted its stake in Phillips 66 by 27.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock worth $6,470,000 after buying an additional 10,536 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Phillips 66 by 42.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock worth $21,844,000 after buying an additional 39,775 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its stake in shares of Phillips 66 by 14.3% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 289,395 shares of the oil and gas company’s stock valued at $38,530,000 after acquiring an additional 36,116 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX traded up $1.44 during mid-day trading on Tuesday, hitting $133.08. 2,082,751 shares of the company’s stock traded hands, compared to its average volume of 2,680,354. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08. The company has a current ratio of 1.14, a quick ratio of 0.82 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $56.42 billion, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 2.50 and a beta of 1.34. The firm has a 50 day moving average of $138.75 and a two-hundred day moving average of $145.99.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. During the same quarter last year, the company earned $3.87 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, equities analysts forecast that Phillips 66 will post 9.4 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $4.60 annualized dividend and a dividend yield of 3.46%. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wolfe Research started coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Piper Sandler reduced their price target 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. StockNews.com lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday, May 6th. TD Cowen lifted their target price on Phillips 66 from $155.00 to $162.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Scotiabank reduced their price target on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.38.

Insider Buying and Selling at Phillips 66

In related news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the transaction, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.22% of the company’s stock.

Phillips 66 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.