Sonora Investment Management Group LLC Sells 6,611 Shares of Phillips 66 $PSX

Sonora Investment Management Group LLC decreased its stake in Phillips 66 (NYSE:PSX) by 25.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 19,285 shares of the oil and gas company’s stock after selling 6,611 shares during the quarter. Sonora Investment Management Group LLC’s holdings in Phillips 66 were worth $2,301,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PSX. von Borstel & Associates Inc. bought a new position in shares of Phillips 66 in the 1st quarter valued at about $27,000. Olde Wealth Management LLC bought a new position in shares of Phillips 66 in the 1st quarter valued at about $28,000. Opal Wealth Advisors LLC acquired a new stake in Phillips 66 in the 1st quarter valued at about $29,000. Smallwood Wealth Investment Management LLC acquired a new stake in Phillips 66 in the 1st quarter valued at about $29,000. Finally, Pinpoint Asset Management Ltd acquired a new stake in Phillips 66 in the 1st quarter valued at about $29,000. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Michael A. Heim bought 1,000 shares of the stock in a transaction dated Wednesday, July 30th. The shares were bought at an average cost of $125.97 per share, with a total value of $125,970.00. Following the completion of the acquisition, the director owned 12,043 shares of the company’s stock, valued at $1,517,056.71. This trade represents a 9.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gregory Hayes bought 8,350 shares of the stock in a transaction dated Thursday, August 14th. The shares were acquired at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the acquisition, the director directly owned 29,423 shares of the company’s stock, valued at approximately $3,527,817.70. This trade represents a 39.62% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 9,850 shares of company stock valued at $1,188,910 over the last ninety days. Company insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group raised their target price on shares of Phillips 66 from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Monday, September 15th. UBS Group raised their target price on shares of Phillips 66 from $143.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Raymond James Financial raised their target price on shares of Phillips 66 from $142.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, September 9th. Scotiabank reiterated a “sector perform” rating and issued a $133.00 target price on shares of Phillips 66 in a research note on Friday, July 11th. Finally, Compass Point assumed coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued a “buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $139.38.

Phillips 66 Trading Up 0.3%

Shares of PSX stock opened at $139.45 on Friday. The firm has a 50 day moving average price of $127.94 and a two-hundred day moving average price of $120.15. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $56.35 billion, a PE ratio of 33.52, a price-to-earnings-growth ratio of 1.98 and a beta of 1.15. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $142.35.

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

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.4%. Phillips 66’s dividend payout ratio (DPR) is currently 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.