Daymark Wealth Partners LLC Has $10.09 Million Position in Phillips 66 $PSX

Daymark Wealth Partners LLC increased its position in shares of Phillips 66 (NYSE:PSX) by 2.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,583 shares of the oil and gas company’s stock after purchasing an additional 1,640 shares during the period. Daymark Wealth Partners LLC’s holdings in Phillips 66 were worth $10,091,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after acquiring an additional 7,214 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in Phillips 66 in the 1st quarter valued at $227,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Phillips 66 by 10.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,130 shares of the oil and gas company’s stock valued at $5,739,000 after acquiring an additional 4,425 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in Phillips 66 by 14.4% in the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the oil and gas company’s stock valued at $95,000 after acquiring an additional 97 shares in the last quarter. Finally, Amalgamated Bank raised its holdings in Phillips 66 by 1.1% in the 1st quarter. Amalgamated Bank now owns 80,038 shares of the oil and gas company’s stock valued at $9,883,000 after acquiring an additional 837 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on PSX. Evercore ISI lifted their price target on Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, September 19th. TD Cowen lifted their price target on Phillips 66 from $130.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Jefferies Financial Group lifted their price target on Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a research note on Friday, October 10th. Wall Street Zen upgraded Phillips 66 from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Morgan Stanley lifted their price target on Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, October 3rd. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $141.50.

Phillips 66 Stock Down 1.1%

Shares of PSX opened at $133.92 on Wednesday. The company has a market capitalization of $54.12 billion, a PE ratio of 32.19, a PEG ratio of 1.78 and a beta of 1.11. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $142.35. The stock’s 50-day moving average price is $131.99 and its two-hundred day moving average price is $122.62. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 3.6%. Phillips 66’s payout ratio is presently 115.38%.

Insiders Place Their Bets

In other Phillips 66 news, Director Sigmund L. Cornelius acquired 500 shares of the company’s stock in a transaction dated Thursday, July 31st. The shares were bought at an average cost of $123.55 per share, with a total value of $61,775.00. Following the purchase, the director directly owned 21,543 shares of the company’s stock, valued at $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory Hayes acquired 8,350 shares of the company’s stock in a transaction dated Thursday, August 14th. The stock was acquired at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the purchase, the director directly owned 29,423 shares in the company, valued at $3,527,817.70. This trade represents a 39.62% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.22% of the company’s stock.

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.