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

Dakota Wealth Management boosted its position in shares of Phillips 66 (NYSE:PSX) by 14.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,666 shares of the oil and gas company’s stock after purchasing an additional 5,959 shares during the quarter. Dakota Wealth Management’s holdings in Phillips 66 were worth $6,022,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Phillips 66 by 11.6% during the third quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company’s stock worth $7,035,574,000 after purchasing an additional 5,356,558 shares in the last quarter. Norges Bank bought a new stake in shares of Phillips 66 in the 2nd quarter valued at $523,755,000. Elliott Investment Management L.P. raised its stake in Phillips 66 by 22.4% during the 2nd quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock worth $2,296,644,000 after buying an additional 3,526,000 shares during the period. AQR Capital Management LLC raised its stake in Phillips 66 by 424.7% during the 3rd quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock worth $257,512,000 after buying an additional 1,532,389 shares during the period. Finally, Worldquant Millennium Advisors LLC bought a new position in Phillips 66 during the second quarter worth about $107,967,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

PSX stock opened at $188.20 on Friday. The stock has a 50-day moving average price of $159.24 and a two-hundred day moving average price of $143.29. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $188.53. The stock has a market cap of $75.42 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 0.34 and a beta of 0.86. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62.

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

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were paid a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 2.7%. The ex-dividend date was Monday, February 23rd. This is a positive change from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s dividend payout ratio (DPR) is presently 46.95%.

Insider Activity

In other news, Director Lisa Ann Davis sold 3,800 shares of the business’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $174.37, for a total value of $662,606.00. Following the sale, the director owned 8,701 shares of the company’s stock, valued at $1,517,193.37. The trade was a 30.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Brian Mandell sold 42,800 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $169.53, for a total transaction of $7,255,884.00. Following the transaction, the executive vice president owned 61,595 shares of the company’s stock, valued at $10,442,200.35. The trade was a 41.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 84,688 shares of company stock worth $14,066,145. 0.22% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PSX. Wall Street Zen raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 14th. Morgan Stanley lifted their price objective on Phillips 66 from $140.00 to $147.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. Wolfe Research boosted their price objective on Phillips 66 from $159.00 to $164.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. The Goldman Sachs Group increased their target price on Phillips 66 from $168.00 to $186.00 and gave the stock a “neutral” rating in a research note on Thursday, March 12th. Finally, UBS Group reissued a “buy” rating and set a $172.00 target price on shares of Phillips 66 in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.00.

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.