Rehmann Capital Advisory Group Acquires Shares of 1,487 Phillips 66 (NYSE:PSX)

Rehmann Capital Advisory Group acquired a new stake in shares of Phillips 66 (NYSE:PSX) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,487 shares of the oil and gas company’s stock, valued at approximately $243,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Phillips 66 in the fourth quarter worth approximately $559,435,000. Boston Partners grew its stake in shares of Phillips 66 by 962.0% in the fourth quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock worth $513,327,000 after acquiring an additional 3,494,878 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Phillips 66 by 38.0% in the first quarter. Bank of New York Mellon Corp now owns 8,019,795 shares of the oil and gas company’s stock worth $1,309,954,000 after acquiring an additional 2,209,043 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Phillips 66 in the fourth quarter worth approximately $254,336,000. Finally, Wellington Management Group LLP grew its stake in shares of Phillips 66 by 20.3% in the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock worth $1,451,643,000 after acquiring an additional 1,842,226 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. 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 note on Friday, June 14th. Scotiabank raised their price objective on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. The Goldman Sachs Group raised their price objective on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. TD Cowen lowered their price target on shares of Phillips 66 from $164.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, June 21st. Finally, Raymond James lowered their price target on shares of Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and an average target price of $156.64.

Insider Buying and Selling

In related 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 value of $5,502,783.60. Following the completion of the sale, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at $7,051,617. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is owned by insiders.

Phillips 66 Trading Up 0.6 %

Shares of NYSE PSX traded up $0.84 during mid-day trading on Wednesday, reaching $133.65. The company had a trading volume of 1,246,253 shares, compared to its average volume of 2,738,746. The business’s 50-day moving average is $140.76 and its 200-day moving average is $145.12. 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 has a market cap of $56.66 billion, a price-to-earnings ratio of 10.22, a price-to-earnings-growth ratio of 2.13 and a beta of 1.34. Phillips 66 has a 52 week low of $98.65 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The company had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same quarter in the previous year, the company posted $4.21 earnings per share. Equities analysts expect that Phillips 66 will post 10.62 earnings per share for the current year.

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.