Sonora Investment Management Group LLC Has $2.30 Million Stock Holdings in Phillips 66 $PSX

Key Points

• Sonora Investment Management Group LLC reduced its holdings in Phillips 66 by 25.5% during the 2nd quarter, now owning 19,285 shares valued at $2.30 million.
• Phillips 66 experienced positive analyst sentiment, with TD Cowen and Evercore ISI recently raising their price targets to $134.00 and $170.00 respectively, both maintaining "buy" ratings.
• The company declared a quarterly dividend of $1.20 per share, representing an annualized yield of 3.4%, with a dividend payout ratio of 115.38%.

Sonora Investment Management Group LLC decreased its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 25.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 large investors have also recently bought and sold shares of the company. Fort Washington Investment Advisors Inc. OH lifted its holdings in Phillips 66 by 0.3% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 248,902 shares of the oil and gas company's stock worth $29,694,000 after buying an additional 833 shares in the last quarter. Virginia Wealth Management Group Inc. lifted its stake in shares of Phillips 66 by 2.4% in the 2nd quarter. Virginia Wealth Management Group Inc. now owns 29,846 shares of the oil and gas company's stock valued at $3,561,000 after purchasing an additional 709 shares during the period. Chatham Capital Group Inc. lifted its stake in shares of Phillips 66 by 2.7% in the 2nd quarter. Chatham Capital Group Inc. now owns 34,055 shares of the oil and gas company's stock valued at $4,063,000 after purchasing an additional 900 shares during the period. TOWER TRUST & INVESTMENT Co lifted its stake in shares of Phillips 66 by 417.4% in the 2nd quarter. TOWER TRUST & INVESTMENT Co now owns 714 shares of the oil and gas company's stock valued at $85,000 after purchasing an additional 576 shares during the period. Finally, Signature Resources Capital Management LLC lifted its stake in shares of Phillips 66 by 66.4% in the 2nd quarter. Signature Resources Capital Management LLC now owns 416 shares of the oil and gas company's stock valued at $50,000 after purchasing an additional 166 shares during the period. Institutional investors and hedge funds own 76.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PSX. TD Cowen increased their price target on Phillips 66 from $130.00 to $134.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Evercore ISI increased their price target on Phillips 66 from $130.00 to $170.00 and gave the company an "outperform" rating in a research note on Friday, September 19th. UBS Group increased their price target on Phillips 66 from $143.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, September 22nd. Wells Fargo & Company cut their price target on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 11th. Finally, Morgan Stanley increased their price target on Phillips 66 from $122.00 to $128.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $139.38.

Phillips 66 Price Performance

PSX opened at $139.45 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $142.35. The company has a fifty day simple moving average of $127.94 and a 200 day simple moving average of $120.15. The stock has a market cap of $56.35 billion, a P/E ratio of 33.52, a P/E/G ratio of 1.98 and a beta of 1.15.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $0.59. The business had revenue of $33.77 billion during the quarter, compared to analysts' expectations of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same quarter in the prior year, the company earned $2.31 EPS. On average, research analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Tuesday, August 19th. Phillips 66's dividend payout ratio is 115.38%.

Insider Transactions at Phillips 66

In other news, Director Michael A. Heim bought 1,000 shares of the stock in a transaction on Wednesday, July 30th. The stock was purchased at an average price of $125.97 per share, for a total transaction of $125,970.00. Following the acquisition, the director owned 12,043 shares in the company, valued at approximately $1,517,056.71. This trade represents a 9.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $135.00, for a total value of $593,055.00. Following the transaction, the executive vice president owned 38,980 shares of the company's stock, valued at approximately $5,262,300. This trade represents a 10.13% decrease in their position. The disclosure for this sale can be found here. Insiders have bought a total of 9,850 shares of company stock worth $1,188,910 in the last 90 days. Company insiders own 0.22% of the company's stock.

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.

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