DT Investment Partners LLC Sells 7,104 Shares of Phillips 66 (NYSE:PSX)

DT Investment Partners LLC lowered its position in Phillips 66 (NYSE:PSX - Free Report) by 23.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,670 shares of the oil and gas company's stock after selling 7,104 shares during the period. DT Investment Partners LLC's holdings in Phillips 66 were worth $2,923,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PSX. Price T Rowe Associates Inc. MD raised its stake in shares of Phillips 66 by 283.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock valued at $686,618,000 after acquiring an additional 4,455,220 shares during the last quarter. Norges Bank bought a new position in shares of Phillips 66 in the fourth quarter valued at approximately $497,648,000. Raymond James Financial Inc. bought a new position in shares of Phillips 66 in the fourth quarter valued at approximately $168,790,000. Capitolis Liquid Global Markets LLC bought a new position in shares of Phillips 66 in the fourth quarter valued at approximately $142,185,000. Finally, GAMMA Investing LLC raised its stake in shares of Phillips 66 by 14,119.5% in the first quarter. GAMMA Investing LLC now owns 1,189,606 shares of the oil and gas company's stock valued at $146,893,000 after acquiring an additional 1,181,240 shares during the last quarter. Institutional investors own 76.93% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Scotiabank lowered their price target on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. Barclays raised their price target on shares of Phillips 66 from $106.00 to $115.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. The Goldman Sachs Group lowered shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price target for the company. in a report on Thursday, March 27th. Wall Street Zen raised shares of Phillips 66 from a "sell" rating to a "hold" rating in a report on Monday, April 28th. Finally, Wells Fargo & Company lowered their price target on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a report on Wednesday, June 11th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $133.93.

Phillips 66 Trading Up 0.3%

Shares of NYSE PSX traded up $0.34 during midday trading on Friday, reaching $126.80. 1,290,860 shares of the stock were exchanged, compared to its average volume of 3,110,757. The business has a 50-day simple moving average of $116.94 and a two-hundred day simple moving average of $117.05. The company has a market capitalization of $51.66 billion, a price-to-earnings ratio of 28.88, a P/E/G ratio of 2.00 and a beta of 1.02. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $150.12. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.23 and a quick ratio of 0.88.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). The firm had revenue of $31.92 billion for the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. During the same period in the prior year, the business earned $1.90 earnings per share. As a group, equities research analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.79%. This is a boost from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date was Monday, May 19th. Phillips 66's dividend payout ratio (DPR) is currently 109.34%.

Insiders Place Their Bets

In related news, Director Robert W. Pease bought 439 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 22nd. The stock was purchased at an average cost of $113.85 per share, with a total value of $49,980.15. Following the purchase, the director owned 4,091 shares in the company, valued at approximately $465,760.35. This trade represents a 12.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brian Mandell sold 9,800 shares of the company's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the completion of the transaction, the executive vice president directly owned 56,838 shares of the company's stock, valued at approximately $7,104,750. The trade was a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.22% of the company's stock.

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.