Dakota Wealth Management Sells 3,979 Shares of Phillips 66 $PSX

Dakota Wealth Management reduced its position in shares of Phillips 66 (NYSE:PSX) by 8.3% during the second quarter, Holdings Channel reports. The firm owned 43,927 shares of the oil and gas company’s stock after selling 3,979 shares during the period. Dakota Wealth Management’s holdings in Phillips 66 were worth $5,241,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PSX. Brighton Jones LLC increased its holdings in Phillips 66 by 238.5% during the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after buying an additional 7,214 shares during the last quarter. Two Sigma Investments LP purchased a new position in shares of Phillips 66 in the fourth quarter worth about $3,423,000. Mackenzie Financial Corp grew its stake in Phillips 66 by 14.1% during the fourth quarter. Mackenzie Financial Corp now owns 42,439 shares of the oil and gas company’s stock valued at $4,835,000 after acquiring an additional 5,233 shares in the last quarter. Siemens Fonds Invest GmbH grew its stake in Phillips 66 by 34.8% during the fourth quarter. Siemens Fonds Invest GmbH now owns 7,935 shares of the oil and gas company’s stock valued at $889,000 after acquiring an additional 2,047 shares in the last quarter. Finally, Wood Tarver Financial Group LLC purchased a new position in Phillips 66 during the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Gregory Hayes acquired 8,350 shares of the stock in a transaction dated Thursday, August 14th. The shares were purchased at an average price of $119.90 per share, for a total transaction of $1,001,165.00. Following the purchase, the director directly owned 29,423 shares of the company’s stock, valued at approximately $3,527,817.70. This trade represents a 39.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael A. Heim acquired 1,000 shares of the stock in a transaction dated Wednesday, July 30th. The stock was acquired at an average price of $125.97 per share, for a total transaction of $125,970.00. Following the purchase, the director directly owned 12,043 shares in the company, valued at approximately $1,517,056.71. This trade represents a 9.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 9,850 shares of company stock worth $1,188,910 over the last quarter. Company insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on PSX shares. UBS Group boosted their price target on shares of Phillips 66 from $143.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday. TD Cowen boosted their price objective on shares of Phillips 66 from $130.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Mizuho upped their price target on shares of Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Monday, September 15th. Evercore ISI upped their price target on shares of Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Finally, Wells Fargo & Company decreased their price objective 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. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.38.

Phillips 66 Stock Performance

Shares of PSX stock opened at $139.23 on Friday. Phillips 66 has a one year low of $91.01 and a one year high of $140.60. The company’s 50-day moving average is $127.67 and its 200 day moving average is $120.07. The company has a market capitalization of $56.26 billion, a price-to-earnings ratio of 33.47, a price-to-earnings-growth ratio of 1.94 and a beta of 1.15. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.59. The firm had revenue of $33.77 billion for the quarter, compared to the consensus estimate of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same quarter last year, the firm posted $2.31 EPS. Sell-side analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Phillips 66’s dividend payout ratio (DPR) is presently 115.38%.

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.