Avior Wealth Management LLC Sells 306 Shares of Phillips 66 (NYSE:PSX)

Avior Wealth Management LLC cut its holdings in shares of Phillips 66 (NYSE:PSX) by 3.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,216 shares of the oil and gas company’s stock after selling 306 shares during the quarter. Avior Wealth Management LLC’s holdings in Phillips 66 were worth $1,212,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Mizuho Securities USA LLC lifted its holdings in Phillips 66 by 7,549.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after purchasing an additional 2,467,316 shares in the last quarter. Boston Partners raised its position in shares of Phillips 66 by 41.4% during the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after buying an additional 1,595,722 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Phillips 66 by 96.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock worth $467,743,000 after acquiring an additional 1,408,954 shares during the last quarter. ING Groep NV grew its stake in Phillips 66 by 123.2% during the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after acquiring an additional 653,032 shares in the last quarter. Finally, Mizuho Markets Americas LLC bought a new stake in Phillips 66 in the 3rd quarter valued at $70,983,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

Phillips 66 stock opened at $131.41 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The firm has a market capitalization of $54.27 billion, a P/E ratio of 16.87, a price-to-earnings-growth ratio of 4.29 and a beta of 1.33. Phillips 66 has a 1-year low of $114.94 and a 1-year high of $174.08. The company’s 50-day moving average is $130.03 and its 200 day moving average is $135.52.

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

Phillips 66 Dividend Announcement

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

Analyst Ratings Changes

Several research firms have commented on PSX. JPMorgan Chase & Co. dropped their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Mizuho dropped their price target on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Scotiabank reduced their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Barclays lowered their target price on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Finally, Wells Fargo & Company reduced their price target on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 Company 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.