Pavion Blue Capital LLC Lowers Stock Holdings in Phillips 66 $PSX

Pavion Blue Capital LLC lowered its stake in shares of Phillips 66 (NYSE:PSX) by 7.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,306 shares of the oil and gas company’s stock after selling 766 shares during the quarter. Pavion Blue Capital LLC’s holdings in Phillips 66 were worth $1,110,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PSX. Wolff Wiese Magana LLC grew its holdings in shares of Phillips 66 by 62.1% during the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after buying an additional 82 shares during the last quarter. von Borstel & Associates Inc. purchased a new position in shares of Phillips 66 during the first quarter worth about $27,000. Olde Wealth Management LLC purchased a new position in shares of Phillips 66 during the first quarter worth about $28,000. Smallwood Wealth Investment Management LLC purchased a new position in shares of Phillips 66 during the first quarter worth about $29,000. Finally, Pinpoint Asset Management Ltd purchased a new position in shares of Phillips 66 during the first quarter worth about $29,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

PSX stock opened at $135.40 on Tuesday. The firm has a 50 day moving average of $131.75 and a 200-day moving average of $122.35. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $142.35. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The company has a market cap of $54.72 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 1.77 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The company had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. During the same period last year, the firm earned $2.31 EPS. As a group, equities analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is presently 115.38%.

Insider Activity at Phillips 66

In related news, Director Michael A. Heim purchased 1,000 shares of Phillips 66 stock in a transaction dated Wednesday, July 30th. The stock was bought at an average cost of $125.97 per share, for a total transaction of $125,970.00. Following the transaction, the director owned 12,043 shares in the company, valued at approximately $1,517,056.71. The trade was a 9.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sigmund L. Cornelius purchased 500 shares of Phillips 66 stock in a transaction dated Thursday, July 31st. The shares were bought at an average price of $123.55 per share, with a total value of $61,775.00. Following the completion of the transaction, the director owned 21,543 shares in the company, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 9,850 shares of company stock valued at $1,188,910 in the last 90 days. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of research reports. TD Cowen raised their price target on Phillips 66 from $130.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Wall Street Zen raised Phillips 66 from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Evercore ISI lifted their price objective on Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Morgan Stanley lifted their price objective on Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a report on Friday, October 3rd. Finally, Argus raised Phillips 66 to a “strong-buy” rating in a report on Thursday, July 31st. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.50.

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.