Dakota Wealth Management Has $6.02 Million Stock Holdings in Phillips 66 $PSX

Dakota Wealth Management grew its stake in Phillips 66 (NYSE:PSX) by 14.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,666 shares of the oil and gas company’s stock after acquiring an additional 5,959 shares during the period. Dakota Wealth Management’s holdings in Phillips 66 were worth $6,022,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Stephens Consulting LLC boosted its position in Phillips 66 by 67.7% during the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 90 shares during the last quarter. CoreCap Advisors LLC increased its position in shares of Phillips 66 by 11.7% during the 4th quarter. CoreCap Advisors LLC now owns 954 shares of the oil and gas company’s stock worth $123,000 after purchasing an additional 100 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its position in shares of Phillips 66 by 3.2% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 242,425 shares of the oil and gas company’s stock worth $31,283,000 after purchasing an additional 7,485 shares during the last quarter. Norden Group LLC raised its stake in shares of Phillips 66 by 6.7% during the 4th quarter. Norden Group LLC now owns 5,885 shares of the oil and gas company’s stock worth $759,000 after purchasing an additional 368 shares in the last quarter. Finally, Stablepoint Partners LLC raised its stake in shares of Phillips 66 by 1.1% during the 4th quarter. Stablepoint Partners LLC now owns 48,389 shares of the oil and gas company’s stock worth $6,244,000 after purchasing an additional 510 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Buying and Selling

In related news, EVP Brian Mandell sold 42,800 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $169.53, for a total value of $7,255,884.00. Following the transaction, the executive vice president owned 61,595 shares in the company, valued at approximately $10,442,200.35. This represents a 41.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Don Baldridge sold 7,500 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the executive vice president directly owned 38,488 shares in the company, valued at approximately $6,158,080. This represents a 16.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 84,688 shares of company stock valued at $14,066,145. 0.22% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PSX shares. Piper Sandler raised their target price on shares of Phillips 66 from $153.00 to $156.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Wall Street Zen raised shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 14th. Scotiabank reiterated a “sector perform” rating and issued a $140.00 price target on shares of Phillips 66 in a research note on Friday, January 16th. UBS Group reissued a “buy” rating and issued a $172.00 price objective on shares of Phillips 66 in a research report on Friday, February 6th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Phillips 66 from $154.00 to $151.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.00.

Phillips 66 Stock Up 2.3%

PSX stock opened at $188.20 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $75.42 billion, a PE ratio of 17.39, a PEG ratio of 0.34 and a beta of 0.86. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $188.53. The business’s 50 day simple moving average is $159.24 and its 200 day simple moving average is $143.29.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.32. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.The business had revenue of $32.16 billion for the quarter, compared to analysts’ expectations of $33.81 billion. During the same quarter in the prior year, the business earned ($0.15) EPS. As a group, research analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were given a $1.27 dividend. The ex-dividend date of this dividend was Monday, February 23rd. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. This represents a $5.08 annualized dividend and a dividend yield of 2.7%. Phillips 66’s payout ratio is currently 46.95%.

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.