Dakota Wealth Management Sells 2,302 Shares of Phillips 66 (NYSE:PSX)

Dakota Wealth Management lowered its position in shares of Phillips 66 (NYSE:PSX) by 4.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 50,486 shares of the oil and gas company’s stock after selling 2,302 shares during the period. Dakota Wealth Management’s holdings in Phillips 66 were worth $5,752,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Advisory Alpha LLC boosted its stake in Phillips 66 by 4.8% during the second quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock worth $233,000 after acquiring an additional 76 shares in the last quarter. Krane Funds Advisors LLC boosted its position in shares of Phillips 66 by 3.6% in the 3rd quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock worth $309,000 after purchasing an additional 82 shares in the last quarter. Richwood Investment Advisors LLC grew its stake in shares of Phillips 66 by 1.9% in the 3rd quarter. Richwood Investment Advisors LLC now owns 4,580 shares of the oil and gas company’s stock worth $602,000 after buying an additional 85 shares during the last quarter. Cobblestone Capital Advisors LLC NY increased its position in Phillips 66 by 0.5% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 17,548 shares of the oil and gas company’s stock valued at $2,307,000 after buying an additional 89 shares in the last quarter. Finally, Western Financial Corp CA raised its stake in Phillips 66 by 1.6% during the third quarter. Western Financial Corp CA now owns 5,882 shares of the oil and gas company’s stock valued at $773,000 after buying an additional 91 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Down 1.6 %

PSX opened at $118.55 on Thursday. The firm’s 50 day simple moving average is $122.18 and its two-hundred day simple moving average is $129.32. The company has a market capitalization of $48.96 billion, a PE ratio of 15.22, a PEG ratio of 3.84 and a beta of 1.38. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned $4.63 EPS. As a group, equities analysts forecast that Phillips 66 will post 6.41 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PSX. Wells Fargo & Company reduced their price target on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a report on Monday, December 9th. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. Scotiabank dropped their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. UBS Group reduced their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Bank of America initiated coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target for the company. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.93.

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.