Sowell Financial Services LLC Acquires 618 Shares of Phillips 66 (PSX)
Sowell Financial Services LLC raised its position in shares of Phillips 66 (NYSE:PSX) by 12.1% during the first quarter, Holdings Channel reports. The institutional investor owned 5,709 shares of the oil and gas company’s stock after buying an additional 618 shares during the period. Sowell Financial Services LLC’s holdings in Phillips 66 were worth $447,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the stock. Alpha Windward LLC raised its position in Phillips 66 by 0.3% in the first quarter. Alpha Windward LLC now owns 3,035 shares of the oil and gas company’s stock worth $240,000 after buying an additional 9 shares during the last quarter. Guardian Life Insurance Co. of America raised its position in Phillips 66 by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,708 shares of the oil and gas company’s stock worth $135,000 after buying an additional 11 shares during the last quarter. Northwest Quadrant Wealth Management LLC raised its position in Phillips 66 by 0.6% in the first quarter. Northwest Quadrant Wealth Management LLC now owns 2,862 shares of the oil and gas company’s stock worth $228,000 after buying an additional 18 shares during the last quarter. Argent Trust Co raised its position in Phillips 66 by 0.8% in the first quarter. Argent Trust Co now owns 3,434 shares of the oil and gas company’s stock worth $272,000 after buying an additional 27 shares during the last quarter. Finally, Capital Investment Advisors LLC raised its position in Phillips 66 by 0.8% in the first quarter. Capital Investment Advisors LLC now owns 3,482 shares of the oil and gas company’s stock worth $276,000 after buying an additional 29 shares during the last quarter. 69.57% of the stock is owned by institutional investors and hedge funds.
Phillips 66 (PSX) traded up 0.49% during mid-day trading on Wednesday, reaching $83.39. 606,753 shares of the company traded hands. The firm has a market cap of $42.65 billion, a PE ratio of 24.94 and a beta of 1.22. The stock’s 50-day moving average price is $83.30 and its 200-day moving average price is $79.78. Phillips 66 has a one year low of $75.14 and a one year high of $88.87.
Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.07. The company had revenue of $24.58 billion for the quarter, compared to analyst estimates of $25.14 billion. Phillips 66 had a net margin of 1.87% and a return on equity of 6.29%. During the same quarter last year, the firm earned $0.94 EPS. Analysts forecast that Phillips 66 will post $4.05 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Wednesday, August 16th. Phillips 66’s payout ratio is 83.58%.
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PSX has been the subject of a number of analyst reports. TheStreet raised shares of Phillips 66 from a “c” rating to a “b-” rating in a research note on Friday, April 28th. Scotiabank set a $86.00 target price on shares of Phillips 66 and gave the company a “hold” rating in a research note on Tuesday, August 1st. Citigroup Inc. reissued a “neutral” rating and set a $83.00 target price (down from $84.00) on shares of Phillips 66 in a research note on Saturday, April 22nd. Jefferies Group LLC set a $74.00 target price on shares of Phillips 66 and gave the company a “hold” rating in a research note on Wednesday, April 19th. Finally, Zacks Investment Research lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Phillips 66 presently has a consensus rating of “Hold” and a consensus price target of $83.53.
Phillips 66 Company Profile
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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