Phillips 66 (NYSE:PSX) Holdings Lifted by D.A. Davidson & CO.

D.A. Davidson & CO. raised its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 52.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 96,057 shares of the oil and gas company's stock after acquiring an additional 32,859 shares during the quarter. D.A. Davidson & CO.'s holdings in Phillips 66 were worth $11,861,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in PSX. Principal Financial Group Inc. lifted its position in Phillips 66 by 2.6% in the first quarter. Principal Financial Group Inc. now owns 531,381 shares of the oil and gas company's stock valued at $65,615,000 after acquiring an additional 13,489 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Phillips 66 by 1.2% during the first quarter. Oregon Public Employees Retirement Fund now owns 35,849 shares of the oil and gas company's stock worth $4,427,000 after purchasing an additional 420 shares in the last quarter. ZWJ Investment Counsel Inc. lifted its holdings in shares of Phillips 66 by 4.8% in the 1st quarter. ZWJ Investment Counsel Inc. now owns 269,056 shares of the oil and gas company's stock valued at $33,223,000 after purchasing an additional 12,288 shares during the last quarter. First Horizon Advisors Inc. boosted its position in shares of Phillips 66 by 18.9% in the 1st quarter. First Horizon Advisors Inc. now owns 3,535 shares of the oil and gas company's stock valued at $437,000 after purchasing an additional 561 shares during the period. Finally, Alley Investment Management Company LLC increased its position in Phillips 66 by 1.0% during the first quarter. Alley Investment Management Company LLC now owns 56,531 shares of the oil and gas company's stock worth $6,980,000 after buying an additional 555 shares during the period. Hedge funds and other institutional investors own 76.93% of the company's stock.

Analysts Set New Price Targets

PSX has been the topic of a number of recent research reports. Barclays lifted their price objective on shares of Phillips 66 from $106.00 to $115.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Morgan Stanley reduced their price objective on Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Compass Point assumed coverage on Phillips 66 in a report on Wednesday, June 18th. They issued a "buy" rating on the stock. The Goldman Sachs Group lowered shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price objective on the stock. in a research report on Thursday, March 27th. Finally, Scotiabank reduced their target price on shares of 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. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of "Moderate Buy" and an average price target of $133.93.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Robert W. Pease purchased 439 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was bought at an average price of $113.85 per share, with a total value of $49,980.15. Following the completion of the purchase, the director owned 4,091 shares in the company, valued at $465,760.35. This trade represents a 12.02% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brian Mandell sold 9,800 shares of the company's stock in a transaction dated 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 sale, the executive vice president directly owned 56,838 shares of the company's stock, valued at $7,104,750. The trade was a 14.71% decrease in their position. The disclosure for this sale can be found here. 0.22% of the stock is owned by insiders.

Phillips 66 Stock Up 0.3%

PSX stock traded up $0.34 during mid-day trading on Friday, hitting $126.80. 1,290,860 shares of the company were exchanged, compared to its average volume of 3,104,736. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $51.66 billion, a PE ratio of 28.88, a price-to-earnings-growth ratio of 1.98 and a beta of 1.02. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $150.12. The firm has a fifty day simple moving average of $116.48 and a 200 day simple moving average of $116.98.

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

Phillips 66 Increases Dividend

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

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.