Phillips 66 (NYSE:PSX) Position Boosted by Sowell Financial Services LLC

Sowell Financial Services LLC boosted its stake in shares of Phillips 66 (NYSE:PSX) by 5.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,392 shares of the oil and gas company’s stock after purchasing an additional 619 shares during the period. Sowell Financial Services LLC’s holdings in Phillips 66 were worth $1,530,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mission Wealth Management LP grew its holdings in shares of Phillips 66 by 13.2% during the 1st quarter. Mission Wealth Management LP now owns 6,355 shares of the oil and gas company’s stock valued at $785,000 after acquiring an additional 743 shares in the last quarter. Cyndeo Wealth Partners LLC grew its holdings in shares of Phillips 66 by 64.0% during the 1st quarter. Cyndeo Wealth Partners LLC now owns 40,647 shares of the oil and gas company’s stock valued at $5,019,000 after acquiring an additional 15,856 shares in the last quarter. Trust Co. of Toledo NA OH grew its stake in Phillips 66 by 7.9% in the first quarter. Trust Co. of Toledo NA OH now owns 5,579 shares of the oil and gas company’s stock valued at $689,000 after purchasing an additional 410 shares in the last quarter. Brighton Jones LLC grew its stake in Phillips 66 by 11.4% in the first quarter. Brighton Jones LLC now owns 11,408 shares of the oil and gas company’s stock valued at $1,409,000 after purchasing an additional 1,169 shares in the last quarter. Finally, Sound Income Strategies LLC grew its stake in Phillips 66 by 19.8% in the first quarter. Sound Income Strategies LLC now owns 743 shares of the oil and gas company’s stock valued at $92,000 after purchasing an additional 123 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Up 0.8%

PSX stock opened at $124.65 on Wednesday. The company has a 50-day moving average of $110.89 and a two-hundred day moving average of $117.33. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $150.12. The stock has a market capitalization of $50.79 billion, a price-to-earnings ratio of 28.39, a price-to-earnings-growth ratio of 1.91 and a beta of 1.02. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.23 and a quick ratio of 0.88.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. The business had revenue of $31.92 billion for the quarter, compared to the consensus estimate of $31.93 billion. During the same quarter in the previous year, the company earned $1.90 EPS. As a group, equities research analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a $1.20 dividend. The ex-dividend date was Monday, May 19th. This is an increase from Phillips 66’s previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 3.85%. Phillips 66’s dividend payout ratio is 109.34%.

Insider Buying and Selling at Phillips 66

In related news, Director Robert W. Pease bought 439 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 22nd. The stock was acquired at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the purchase, the director now owns 4,091 shares in the company, valued at approximately $465,760.35. This represents a 12.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

PSX has been the subject of several recent research reports. UBS Group lowered their price target on Phillips 66 from $144.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Wall Street Zen raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a research report on Monday, April 28th. Wells Fargo & Company decreased their target price on shares of Phillips 66 from $149.00 to $147.00 and set an “overweight” rating for the company in a research report on Wednesday, June 11th. Morgan Stanley decreased their price objective on shares of Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Finally, Mizuho upped their price target on Phillips 66 from $132.00 to $138.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 13th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and a consensus target price of $135.46.

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.