Phillips 66 $PSX Shares Sold by DT Investment Partners LLC

DT Investment Partners LLC lessened its position in shares of Phillips 66 (NYSE:PSX) by 52.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,736 shares of the oil and gas company’s stock after selling 11,874 shares during the period. DT Investment Partners LLC’s holdings in Phillips 66 were worth $1,460,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Benchmark Financial Wealth Advisors LLC acquired a new position in Phillips 66 in the third quarter worth $221,000. Endeavor Private Wealth Inc. boosted its holdings in shares of Phillips 66 by 4.0% in the 3rd quarter. Endeavor Private Wealth Inc. now owns 5,448 shares of the oil and gas company’s stock valued at $741,000 after buying an additional 211 shares during the period. Earned Wealth Advisors LLC bought a new stake in shares of Phillips 66 during the 3rd quarter valued at about $324,000. Alpha Omega Wealth Management LLC raised its stake in Phillips 66 by 0.7% during the third quarter. Alpha Omega Wealth Management LLC now owns 39,315 shares of the oil and gas company’s stock worth $5,348,000 after acquiring an additional 267 shares during the period. Finally, InTrack Investment Management Inc bought a new position in Phillips 66 in the third quarter worth about $209,000. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Trading Up 1.2%

NYSE:PSX opened at $130.56 on Friday. The stock has a market cap of $52.60 billion, a price-to-earnings ratio of 35.67, a PEG ratio of 0.35 and a beta of 0.90. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.23. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $144.96. The business has a fifty day moving average of $135.45 and a 200-day moving average of $130.72.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.38. The business had revenue of $33.69 billion for the quarter, compared to analysts’ expectations of $32.29 billion. Phillips 66 had a net margin of 1.12% and a return on equity of 5.53%. During the same period in the previous year, the business earned $2.04 earnings per share. Equities analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Monday, November 17th. Phillips 66’s payout ratio is 131.15%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Morgan Stanley upped their target price on Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a report on Friday, October 3rd. UBS Group restated a “buy” rating and set a $160.00 price objective on shares of Phillips 66 in a research note on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a research report on Wednesday, October 8th. Jefferies Financial Group boosted their price target on shares of Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a report on Friday, October 10th. Finally, Wolfe Research upped their price target on shares of Phillips 66 from $158.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, December 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average target price of $147.82.

Insider Buying and Selling

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the sale, the chief financial officer owned 89,771 shares of the company’s stock, valued at $12,388,398. The trade was a 25.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brian Mandell sold 25,500 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $140.04, for a total value of $3,571,020.00. Following the completion of the sale, the executive vice president owned 56,838 shares of the company’s stock, valued at $7,959,593.52. This trade represents a 30.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 81,700 shares of company stock valued at $11,318,236. Company insiders own 0.22% of the company’s stock.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.