Aventail Capital Group LP Has $15.51 Million Stake in Phillips 66 $PSX

Aventail Capital Group LP reduced its stake in shares of Phillips 66 (NYSE:PSX) by 58.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,031 shares of the oil and gas company’s stock after selling 157,472 shares during the period. Aventail Capital Group LP’s holdings in Phillips 66 were worth $15,510,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Evolution Wealth Management Inc. acquired a new position in shares of Phillips 66 during the 2nd quarter valued at about $25,000. Winnow Wealth LLC acquired a new stake in Phillips 66 in the 3rd quarter worth approximately $36,000. Wealth Watch Advisors INC acquired a new stake in Phillips 66 in the 3rd quarter worth approximately $36,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in Phillips 66 during the second quarter worth approximately $32,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in Phillips 66 during the second quarter worth approximately $38,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Down 0.7%

PSX opened at $172.85 on Friday. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $178.38. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $69.27 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 0.60 and a beta of 0.86. The business has a 50 day moving average of $151.43 and a 200-day moving average of $140.12.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.32. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. The business had revenue of $32.16 billion for the quarter, compared to analyst estimates of $33.81 billion. During the same quarter in the previous year, the firm posted ($0.15) earnings per share. As a group, sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were given a $1.27 dividend. The ex-dividend date was Monday, February 23rd. This represents a $5.08 annualized dividend and a yield of 2.9%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s dividend payout ratio (DPR) is 46.95%.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 16,856 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $168.22, for a total value of $2,835,516.32. Following the completion of the sale, the chief financial officer owned 97,376 shares in the company, valued at approximately $16,380,590.72. This trade represents a 14.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of Phillips 66 stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total value of $659,100.00. Following the sale, the executive vice president directly owned 25,799 shares in the company, valued at approximately $3,869,850. This trade represents a 14.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 38,088 shares of company stock worth $6,147,655. 0.22% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on PSX. Scotiabank reissued a “sector perform” rating and issued a $140.00 price target on shares of Phillips 66 in a research report on Friday, January 16th. Piper Sandler upped their price objective on shares of Phillips 66 from $153.00 to $156.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Wolfe Research raised their target price on shares of Phillips 66 from $159.00 to $164.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. JPMorgan Chase & Co. dropped their target price on shares of Phillips 66 from $154.00 to $151.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Finally, Barclays set a $158.00 price target on shares of Phillips 66 in a report on Friday, February 20th. Eleven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $161.33.

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.