Kingswood Wealth Advisors LLC Purchases 2,209 Shares of Phillips 66 (NYSE:PSX)

Kingswood Wealth Advisors LLC boosted its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 94.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,556 shares of the oil and gas company's stock after purchasing an additional 2,209 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in Phillips 66 were worth $565,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp bought a new stake in Phillips 66 during the 4th quarter valued at approximately $25,000. Opal Wealth Advisors LLC bought a new stake in Phillips 66 during the 1st quarter valued at approximately $29,000. Pacific Center for Financial Services bought a new stake in Phillips 66 during the 4th quarter valued at approximately $27,000. Graney & King LLC bought a new stake in Phillips 66 during the 4th quarter valued at approximately $28,000. Finally, Wood Tarver Financial Group LLC bought a new stake in Phillips 66 during the 4th quarter valued at approximately $29,000. Institutional investors own 76.93% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Raymond James Financial decreased their target price on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Wall Street Zen upgraded Phillips 66 from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Compass Point began coverage on Phillips 66 in a research report on Wednesday. They issued a "buy" rating for the company. Wells Fargo & Company reduced their price objective on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a research report on Wednesday, June 11th. Finally, TD Cowen raised their price objective on Phillips 66 from $114.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Phillips 66 currently has a consensus rating of "Moderate Buy" and an average target price of $133.93.

Phillips 66 Trading Up 0.0%

PSX stock traded up $0.05 during midday trading on Friday, hitting $124.87. 8,493,805 shares of the company's stock were exchanged, compared to its average volume of 3,075,461. The stock's fifty day moving average price is $112.45 and its 200-day moving average price is $117.14. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.88 and a current ratio of 1.23. The company has a market cap of $50.88 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 1.94 and a beta of 1.02. Phillips 66 has a one year low of $91.01 and a one year high of $150.12.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. The company 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 posted $1.90 EPS. Research analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a $1.20 dividend. This is an increase from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date was Monday, May 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.84%. Phillips 66's dividend payout ratio is presently 109.34%.

Insider Activity

In other Phillips 66 news, EVP Brian Mandell sold 9,800 shares of the company's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the completion of the sale, the executive vice president now directly owns 56,838 shares in the company, valued at $7,104,750. This represents a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert W. Pease purchased 439 shares of the stock in a transaction dated Thursday, May 22nd. The shares were bought at an average price of $113.85 per share, with a total value of $49,980.15. Following the completion of the acquisition, the director now directly owns 4,091 shares of the company's stock, valued at approximately $465,760.35. This represents a 12.02% increase in their position. The disclosure for this purchase can be found here. 0.22% of the stock is owned by company insiders.

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.