Aventail Capital Group LP Grows Stake in Phillips 66 $PSX

Aventail Capital Group LP increased its holdings in shares of Phillips 66 (NYSE:PSX) by 13.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 129,049 shares of the oil and gas company’s stock after acquiring an additional 15,018 shares during the period. Phillips 66 comprises approximately 1.0% of Aventail Capital Group LP’s portfolio, making the stock its 25th biggest holding. Aventail Capital Group LP’s holdings in Phillips 66 were worth $16,652,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Board of the Pension Protection Fund purchased a new stake in shares of Phillips 66 during the fourth quarter worth about $26,000. Accordant Advisory Group Inc grew its position in shares of Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 180 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of Phillips 66 during the fourth quarter worth about $27,000. SWAN Capital LLC grew its position in shares of Phillips 66 by 1,055.6% during the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 190 shares in the last quarter. Finally, Stephens Consulting LLC grew its position in shares of Phillips 66 by 67.7% during the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on PSX shares. Wall Street Zen upgraded Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Weiss Ratings cut Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Piper Sandler increased their target price on Phillips 66 from $168.00 to $177.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 8th. Scotiabank increased their target price on Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Finally, TD Cowen increased their target price on Phillips 66 from $155.00 to $213.00 and gave the stock a “buy” rating in a research report on Wednesday, April 1st. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus target price of $192.33.

Insider Activity at Phillips 66

In related news, Director Kevin Omar Meyers acquired 175 shares of the stock in a transaction dated Wednesday, May 6th. The stock was acquired at an average cost of $173.12 per share, with a total value of $30,296.00. Following the purchase, the director directly owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kevin J. Mitchell sold 29,400 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $170.00, for a total value of $4,998,000.00. Following the completion of the sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at $16,553,920. The trade was a 23.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 45,629 shares of company stock valued at $8,071,540 in the last 90 days. 0.40% of the stock is currently owned by company insiders.

Phillips 66 Stock Performance

NYSE PSX opened at $167.08 on Thursday. The stock has a market capitalization of $66.99 billion, a PE ratio of 16.46, a P/E/G ratio of 0.25 and a beta of 0.68. The business has a 50 day simple moving average of $172.14 and a two-hundred day simple moving average of $158.68. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. Phillips 66 has a 1-year low of $118.00 and a 1-year high of $190.61.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating the consensus estimate of ($0.54) by $1.03. The business had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.90) EPS. On average, research analysts predict that Phillips 66 will post 18.12 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 3.0%. The ex-dividend date was Monday, May 18th. Phillips 66’s dividend payout ratio (DPR) is currently 50.05%.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.