Rehmann Capital Advisory Group Decreases Holdings in Phillips 66 (NYSE:PSX)

Rehmann Capital Advisory Group trimmed its holdings in shares of Phillips 66 (NYSE:PSX) by 5.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,915 shares of the oil and gas company’s stock after selling 110 shares during the period. Rehmann Capital Advisory Group’s holdings in Phillips 66 were worth $218,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Oppenheimer & Co. Inc. grew its stake in shares of Phillips 66 by 10.6% during the 4th 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 period. Flavin Financial Services Inc. bought a new position in Phillips 66 in the 4th quarter worth approximately $1,190,000. Everence Capital Management Inc. bought a new position in Phillips 66 in the 4th quarter worth approximately $3,033,000. Donoghue Forlines LLC purchased a new position in Phillips 66 in the 4th quarter valued at approximately $1,438,000. Finally, Smith Group Asset Management LLC bought a new stake in Phillips 66 during the 4th quarter valued at $1,149,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Trading Up 3.5 %

Shares of PSX opened at $107.08 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12. The firm has a 50 day moving average price of $113.45 and a 200-day moving average price of $120.22. The firm has a market cap of $43.63 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 4.84 and a beta of 1.17.

Phillips 66 (NYSE:PSX) last posted 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 for the quarter, compared to analysts’ expectations of $31.93 billion. During the same quarter in the previous year, the company earned $1.90 earnings per share. As a group, equities research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a $1.20 dividend. The ex-dividend date is Monday, May 19th. This represents a $4.80 annualized dividend and a yield of 4.48%. This is an increase from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s payout ratio is presently 109.34%.

Wall Street Analyst Weigh In

PSX has been the topic of a number of analyst reports. StockNews.com upgraded Phillips 66 from a “sell” rating to a “hold” rating in a research note on Monday, April 28th. JPMorgan Chase & Co. decreased their target price on shares of Phillips 66 from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Tuesday. Barclays cut their price target on shares of Phillips 66 from $135.00 to $106.00 and set an “equal weight” rating for the company in a report on Thursday, April 10th. Mizuho decreased their price target on shares of Phillips 66 from $140.00 to $132.00 and set a “neutral” rating on the stock in a report on Wednesday, April 9th. Finally, Scotiabank dropped their price objective on Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and a consensus target price of $136.36.

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.