Mather Group LLC. Sells 14,181 Shares of Phillips 66 (NYSE:PSX)

Mather Group LLC. lowered its stake in Phillips 66 (NYSE:PSX) by 61.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,814 shares of the oil and gas company’s stock after selling 14,181 shares during the period. Mather Group LLC.’s holdings in Phillips 66 were worth $1,159,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PSX. Manning & Napier Advisors LLC acquired a new position in shares of Phillips 66 during the second quarter worth $17,670,000. M&G Plc bought a new position in Phillips 66 during the 2nd quarter worth approximately $3,596,000. Duality Advisers LP acquired a new position in Phillips 66 in the first quarter valued at $3,596,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Phillips 66 by 42.3% during the 1st 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 acquiring an additional 39,775 shares during the period. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in Phillips 66 by 14.3% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 289,395 shares of the oil and gas company’s stock worth $38,530,000 after purchasing an additional 36,116 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

PSX has been the topic of several research reports. JPMorgan Chase & Co. dropped their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Barclays reduced their price target on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a research report on Tuesday. Raymond James increased their price target on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Wolfe Research began coverage on shares of Phillips 66 in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Morgan Stanley dropped their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $152.93.

Insider Activity

In other news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the transaction, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is owned by company insiders.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $132.31 on Wednesday. The stock has a fifty day simple moving average of $133.79 and a two-hundred day simple moving average of $142.02. Phillips 66 has a 1-year low of $107.85 and a 1-year high of $174.08. The firm has a market cap of $56.09 billion, a price-to-earnings ratio of 10.18, a price-to-earnings-growth ratio of 5.46 and a beta of 1.33. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. During the same period in the prior year, the company earned $3.87 earnings per share. Phillips 66’s revenue was up 8.9% compared to the same quarter last year. Analysts anticipate that Phillips 66 will post 8.21 earnings per share for the current year.

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.