Diversified Trust Co Sells 6,292 Shares of Phillips 66 (NYSE:PSX)

Diversified Trust Co cut its holdings in Phillips 66 (NYSE:PSX) by 28.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,700 shares of the oil and gas company’s stock after selling 6,292 shares during the quarter. Diversified Trust Co’s holdings in Phillips 66 were worth $2,216,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Manning & Napier Advisors LLC bought a new position in shares of Phillips 66 during the second quarter valued at $17,670,000. Duality Advisers LP bought a new stake in Phillips 66 in the 1st quarter worth about $3,596,000. Daiwa Securities Group Inc. raised its position in Phillips 66 by 27.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock worth $6,470,000 after buying an additional 10,536 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Phillips 66 by 42.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock valued at $21,844,000 after acquiring an additional 39,775 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its stake in shares of Phillips 66 by 14.3% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 289,395 shares of the oil and gas company’s stock worth $38,530,000 after acquiring an additional 36,116 shares during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the transaction, the executive vice president now directly owns 48,365 shares in the company, valued at $7,051,617. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.22% of the company’s stock.

Phillips 66 Stock Up 1.0 %

PSX stock traded up $1.33 during trading on Wednesday, reaching $135.99. 77,119 shares of the company traded hands, compared to its average volume of 2,646,938. The business has a 50 day simple moving average of $138.15 and a 200 day simple moving average of $146.04. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. The company has a market capitalization of $56.92 billion, a price-to-earnings ratio of 10.36, a price-to-earnings-growth ratio of 2.33 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. During the same period last year, the firm earned $3.87 earnings per share. Phillips 66’s revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts anticipate that Phillips 66 will post 9.53 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.38%. Phillips 66’s payout ratio is presently 35.38%.

Analyst Ratings Changes

PSX has been the subject of a number of research reports. Scotiabank decreased their target price on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. JPMorgan Chase & Co. reduced their price target on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Mizuho dropped their price objective on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Finally, Raymond James increased their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Five 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 company has an average rating of “Moderate Buy” and a consensus price target of $157.38.

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.