Dakota Wealth Management Sells 2,580 Shares of Phillips 66 (NYSE:PSX)

Dakota Wealth Management trimmed its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 5.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,906 shares of the oil and gas company's stock after selling 2,580 shares during the period. Dakota Wealth Management's holdings in Phillips 66 were worth $5,915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Forum Financial Management LP grew its stake in Phillips 66 by 1.0% during the 4th quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company's stock worth $853,000 after purchasing an additional 77 shares in the last quarter. Smith Moore & CO. grew its stake in Phillips 66 by 0.9% during the 4th quarter. Smith Moore & CO. now owns 10,732 shares of the oil and gas company's stock worth $1,223,000 after purchasing an additional 91 shares in the last quarter. CWC Advisors LLC. boosted its position in shares of Phillips 66 by 1.0% during the 4th quarter. CWC Advisors LLC. now owns 9,743 shares of the oil and gas company's stock worth $1,110,000 after acquiring an additional 92 shares in the last quarter. Golden State Wealth Management LLC boosted its position in shares of Phillips 66 by 14.4% during the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the oil and gas company's stock worth $95,000 after acquiring an additional 97 shares in the last quarter. Finally, Lantern Wealth Advisors LLC boosted its position in shares of Phillips 66 by 4.7% during the 4th quarter. Lantern Wealth Advisors LLC now owns 2,224 shares of the oil and gas company's stock worth $253,000 after acquiring an additional 99 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Up 0.7%

Shares of PSX traded up $0.89 during midday trading on Friday, reaching $126.07. 1,950,226 shares of the company were exchanged, compared to its average volume of 3,126,544. The stock has a 50-day moving average price of $121.05 and a 200-day moving average price of $118.13. The company has a market cap of $51.37 billion, a price-to-earnings ratio of 28.72, a P/E/G ratio of 1.99 and a beta of 1.02. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). The company had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. During the same quarter in the prior year, the firm earned $1.90 EPS. Research analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Tuesday, August 19th. Phillips 66's dividend payout ratio (DPR) is 109.34%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. The Goldman Sachs Group cut Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price for the company. in a research report on Thursday, March 27th. Scotiabank reaffirmed a "sector perform" rating and issued a $133.00 price objective on shares of Phillips 66 in a research note on Friday, July 11th. JPMorgan Chase & Co. set a $115.00 price objective on Phillips 66 in a research note on Wednesday, June 18th. Cantor Fitzgerald started coverage on Phillips 66 in a research report on Wednesday, June 18th. They set a "neutral" rating for the company. Finally, Raymond James Financial set a $142.00 price target on Phillips 66 and gave the stock an "outperform" rating in a research report on Tuesday. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Phillips 66 currently has an average rating of "Hold" and an average price target of $135.27.

Insider Activity at Phillips 66

In other news, EVP Brian Mandell sold 9,800 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the completion of the transaction, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,104,750. The trade was a 14.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total transaction of $571,090.00. Following the sale, the executive vice president directly owned 43,373 shares in the company, valued at approximately $5,638,490. This trade represents a 9.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Company 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.