Avior Wealth Management LLC Cuts Stake in Phillips 66 (NYSE:PSX)

Avior Wealth Management LLC reduced its position in Phillips 66 (NYSE:PSX) by 3.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,216 shares of the oil and gas company’s stock after selling 306 shares during the period. Avior Wealth Management LLC’s holdings in Phillips 66 were worth $1,212,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. West Family Investments Inc. lifted its position in shares of Phillips 66 by 6.4% in the 3rd quarter. West Family Investments Inc. now owns 1,612 shares of the oil and gas company’s stock worth $212,000 after purchasing an additional 97 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Phillips 66 in the third quarter worth approximately $4,839,000. BIP Wealth LLC purchased a new stake in Phillips 66 during the third quarter worth $204,000. Prospera Financial Services Inc boosted its position in Phillips 66 by 6.8% during the 3rd quarter. Prospera Financial Services Inc now owns 29,040 shares of the oil and gas company’s stock valued at $3,820,000 after acquiring an additional 1,849 shares in the last quarter. Finally, Verity & Verity LLC increased its holdings in shares of Phillips 66 by 3.7% in the 3rd quarter. Verity & Verity LLC now owns 67,541 shares of the oil and gas company’s stock valued at $8,878,000 after acquiring an additional 2,416 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Up 0.4 %

Shares of PSX stock opened at $131.41 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a twelve month low of $114.94 and a twelve month high of $174.08. The stock has a 50 day moving average of $130.03 and a 200 day moving average of $135.52. The stock has a market cap of $54.27 billion, a P/E ratio of 16.87, a P/E/G ratio of 4.29 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business’s revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the business posted $4.63 EPS. As a group, sell-side analysts expect that Phillips 66 will post 7.63 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s payout ratio is currently 59.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Raymond James raised their price objective on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Wells Fargo & Company dropped their target price on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Morgan Stanley decreased their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Bank of America initiated coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. Finally, Piper Sandler set a $144.00 price target on shares of Phillips 66 in a report on Thursday, October 17th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $149.69.

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.