Sowell Financial Services LLC Sells 218 Shares of Phillips 66 $PSX

Sowell Financial Services LLC lowered its stake in shares of Phillips 66 (NYSE:PSX) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,174 shares of the oil and gas company’s stock after selling 218 shares during the period. Sowell Financial Services LLC’s holdings in Phillips 66 were worth $1,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. von Borstel & Associates Inc. bought a new stake in Phillips 66 in the first quarter worth $27,000. Olde Wealth Management LLC bought a new stake in Phillips 66 in the first quarter worth $28,000. Opal Wealth Advisors LLC bought a new stake in Phillips 66 in the first quarter worth $29,000. Smallwood Wealth Investment Management LLC bought a new stake in Phillips 66 in the first quarter worth $29,000. Finally, Pinpoint Asset Management Ltd bought a new stake in Phillips 66 in the first quarter worth $29,000. Institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PSX shares. Cantor Fitzgerald started coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They issued a “neutral” rating on the stock. Citigroup cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $126.00 to $130.00 in a research report on Wednesday, July 16th. Compass Point began coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They set a “buy” rating for the company. Scotiabank reaffirmed a “sector perform” rating and set a $133.00 price objective on shares of Phillips 66 in a research note on Friday, July 11th. Finally, Wells Fargo & Company dropped their price objective on shares of Phillips 66 from $149.00 to $147.00 and set an “overweight” rating for the company in a research note on Wednesday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $139.38.

Insider Activity

In other news, Director Sigmund L. Cornelius purchased 500 shares of the firm’s stock in a transaction on Thursday, July 31st. The stock was acquired at an average cost of $123.55 per share, with a total value of $61,775.00. Following the completion of the transaction, the director owned 21,543 shares in the company, valued at $2,661,637.65. This represents a 2.38% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $135.00, for a total transaction of $593,055.00. Following the sale, the executive vice president directly owned 38,980 shares of the company’s stock, valued at approximately $5,262,300. The trade was a 10.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 9,850 shares of company stock valued at $1,188,910. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Stock Up 0.1%

NYSE:PSX opened at $129.86 on Tuesday. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $140.60. The company has a 50-day moving average of $127.06 and a 200 day moving average of $119.78. The firm has a market cap of $52.48 billion, a PE ratio of 31.22, a price-to-earnings-growth ratio of 1.86 and a beta of 1.15. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The company had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same period in the prior year, the firm earned $2.31 earnings per share. As a group, research analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, August 19th. Phillips 66’s dividend payout ratio is presently 115.38%.

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.