DT Investment Partners LLC Cuts Position in Phillips 66 (NYSE:PSX)

DT Investment Partners LLC reduced its stake in shares of Phillips 66 (NYSE:PSX) by 49.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 30,774 shares of the oil and gas company’s stock after selling 30,130 shares during the period. DT Investment Partners LLC’s holdings in Phillips 66 were worth $3,506,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Krane Funds Advisors LLC raised its holdings in shares of Phillips 66 by 3.6% during the 3rd quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock valued at $309,000 after buying an additional 82 shares during the period. Webster Bank N. A. raised its holdings in shares of Phillips 66 by 48.4% during the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 88 shares during the period. Cobblestone Capital Advisors LLC NY raised its holdings in shares of Phillips 66 by 0.5% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 17,548 shares of the oil and gas company’s stock valued at $2,307,000 after buying an additional 89 shares during the period. Western Financial Corp CA raised its holdings in shares of Phillips 66 by 1.6% during the 3rd quarter. Western Financial Corp CA now owns 5,882 shares of the oil and gas company’s stock valued at $773,000 after buying an additional 91 shares during the period. Finally, Avestar Capital LLC raised its holdings in shares of Phillips 66 by 5.1% during the 3rd quarter. Avestar Capital LLC now owns 1,885 shares of the oil and gas company’s stock valued at $248,000 after buying an additional 92 shares during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Trading Up 0.5 %

NYSE:PSX opened at $125.70 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The business has a 50 day simple moving average of $118.83 and a 200 day simple moving average of $127.55. The firm has a market capitalization of $51.91 billion, a P/E ratio of 25.44, a P/E/G ratio of 5.64 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period last year, the business posted $3.09 EPS. Equities research analysts predict that Phillips 66 will post 7.14 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 3.66%. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research report on Friday, January 3rd. Barclays decreased their target price on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Bank of America initiated coverage on Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price for the company. Finally, Mizuho decreased their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $148.00.

About Phillips 66

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.