Sovereign Financial Group Inc. Has $303,000 Stake in Phillips 66 (NYSE:PSX)

Sovereign Financial Group Inc. lifted its position in shares of Phillips 66 (NYSE:PSX) by 9.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,856 shares of the oil and gas company’s stock after buying an additional 155 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Phillips 66 were worth $303,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Future Financial Wealth Managment LLC bought a new stake in Phillips 66 in the first quarter worth approximately $82,000. Brookstone Capital Management increased its stake in shares of Phillips 66 by 6.7% in the 1st quarter. Brookstone Capital Management now owns 23,076 shares of the oil and gas company’s stock valued at $3,769,000 after acquiring an additional 1,450 shares in the last quarter. Sunbelt Securities Inc. increased its stake in shares of Phillips 66 by 87.4% in the 1st quarter. Sunbelt Securities Inc. now owns 2,983 shares of the oil and gas company’s stock valued at $487,000 after acquiring an additional 1,391 shares in the last quarter. Lpwm LLC acquired a new position in shares of Phillips 66 during the 1st quarter valued at $230,000. Finally, Kingswood Wealth Advisors LLC boosted its stake in Phillips 66 by 3.2% during the first quarter. Kingswood Wealth Advisors LLC now owns 7,056 shares of the oil and gas company’s stock worth $1,153,000 after acquiring an additional 217 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In related news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the transaction, the executive vice president now owns 48,365 shares in the company, valued at $7,051,617. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the topic of several research reports. StockNews.com lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Mizuho reduced their price objective on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. Raymond James decreased their price objective on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. Argus reiterated a “buy” rating and issued a $167.00 target price on shares of Phillips 66 in a report on Thursday, May 30th. Finally, Bank of America boosted their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $157.79.

Phillips 66 Trading Down 0.3 %

Shares of PSX stock opened at $139.40 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The company has a market capitalization of $59.10 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 2.08 and a beta of 1.37. Phillips 66 has a 52-week low of $91.78 and a 52-week high of $174.08. The company has a 50-day simple moving average of $143.46 and a two-hundred day simple moving average of $144.50.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The business had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period in the prior year, the company earned $4.21 earnings per share. Research analysts anticipate that Phillips 66 will post 11.22 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 3.30%. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Phillips 66 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.