Aventail Capital Group LP raised its stake in shares of Phillips 66 (NYSE:PSX – Free Report) by 13.2% during the 4th quarter, according to its most recent filing with the SEC. 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 makes up approximately 1.0% of Aventail Capital Group LP’s holdings, making the stock its 25th biggest position. Aventail Capital Group LP’s holdings in Phillips 66 were worth $16,652,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Board of the Pension Protection Fund purchased a new position in shares of Phillips 66 during the fourth quarter valued at approximately $26,000. Accordant Advisory Group Inc boosted its holdings in Phillips 66 by 900.0% in 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 during the last quarter. Eagle Bay Advisors LLC bought a new stake in Phillips 66 in the 4th quarter worth approximately $27,000. SWAN Capital LLC raised its stake in Phillips 66 by 1,055.6% during the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 190 shares during the last quarter. Finally, Stephens Consulting LLC raised its stake in Phillips 66 by 67.7% during the 4th quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.
Phillips 66 Trading Down 2.9%
NYSE:PSX opened at $167.08 on Thursday. Phillips 66 has a one year low of $118.00 and a one year high of $190.61. The business has a fifty day moving average price of $172.14 and a 200-day moving average price of $158.68. The firm has a market capitalization of $66.99 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 0.25 and a beta of 0.68. 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 Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were paid a $1.27 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $5.08 annualized dividend and a dividend yield of 3.0%. Phillips 66’s dividend payout ratio (DPR) is 50.05%.
Insider Activity
In related news, Director Kevin Omar Meyers acquired 175 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were purchased at an average price of $173.12 per share, with a total value of $30,296.00. Following the completion of the purchase, the director directly owned 16,799 shares of the company’s stock, valued at $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin J. Mitchell sold 29,400 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $170.00, for a total value of $4,998,000.00. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at $16,553,920. This trade represents a 23.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 45,629 shares of company stock worth $8,071,540 in the last ninety days. Corporate insiders own 0.40% of the company’s stock.
Analyst Ratings Changes
A number of research firms have recently issued reports on PSX. Wells Fargo & Company raised their price target on Phillips 66 from $163.00 to $201.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. BMO Capital Markets upped their price objective on Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. The Goldman Sachs Group increased their target price on Phillips 66 from $192.00 to $207.00 and gave the company a “neutral” rating in a report on Tuesday, May 19th. Morgan Stanley raised their target price on Phillips 66 from $180.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Finally, Mizuho upgraded Phillips 66 from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $170.00 to $212.00 in a research note on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average price target of $192.33.
View Our Latest Research Report on PSX
Phillips 66 Company 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.
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