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

DT Investment Partners LLC lowered its position in Phillips 66 (NYSE:PSX) by 49.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,774 shares of the oil and gas company’s stock after selling 30,130 shares during the quarter. DT Investment Partners LLC’s holdings in Phillips 66 were worth $3,506,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PSX. Bogart Wealth LLC increased its position in shares of Phillips 66 by 120.0% in the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 120 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Phillips 66 in the third quarter valued at $26,000. Stephens Consulting LLC increased its position in shares of Phillips 66 by 83.5% in the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 111 shares in the last quarter. Values First Advisors Inc. acquired a new stake in shares of Phillips 66 during the third quarter valued at $30,000. Finally, Webster Bank N. A. boosted its stake in shares of Phillips 66 by 48.4% during the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Bank of America assumed coverage on Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective on the stock. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research note on Friday, January 3rd. Barclays decreased their price objective on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Finally, StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Stock Up 0.5 %

Shares of NYSE:PSX opened at $125.70 on Friday. The stock’s 50-day moving average price is $118.83 and its two-hundred day moving average price is $127.55. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The firm has a market cap of $51.91 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 5.64 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) 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 in the previous year, the company earned $3.09 earnings per share. On average, research analysts forecast that Phillips 66 will post 7.14 EPS for the current year.

Phillips 66 Announces Dividend

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

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.