Tred Avon Family Wealth LLC Acquires New Stake in Phillips 66 $PSX

Tred Avon Family Wealth LLC bought a new position in Phillips 66 (NYSE:PSX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,414 shares of the oil and gas company’s stock, valued at approximately $736,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PSX. Brighton Jones LLC increased its stake in Phillips 66 by 238.5% during the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after purchasing an additional 7,214 shares in the last quarter. Woodline Partners LP grew its holdings in shares of Phillips 66 by 40.7% during the first quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock valued at $4,308,000 after buying an additional 10,089 shares during the last quarter. Pallas Capital Advisors LLC increased its position in shares of Phillips 66 by 41.0% during the second quarter. Pallas Capital Advisors LLC now owns 5,168 shares of the oil and gas company’s stock valued at $616,000 after acquiring an additional 1,502 shares in the last quarter. Sovran Advisors LLC purchased a new position in Phillips 66 in the 2nd quarter worth approximately $324,000. Finally, Signal Advisors Wealth LLC bought a new position in Phillips 66 in the 2nd quarter valued at approximately $253,000. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Trading Down 1.2%

Shares of NYSE:PSX opened at $138.27 on Friday. The stock’s 50-day simple moving average is $136.07 and its two-hundred day simple moving average is $131.98. The stock has a market capitalization of $55.71 billion, a price-to-earnings ratio of 37.78, a PEG ratio of 0.38 and a beta of 0.90. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $145.68. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.23.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.38. The firm had revenue of $33.69 billion for the quarter, compared to analysts’ expectations of $32.29 billion. Phillips 66 had a net margin of 1.12% and a return on equity of 5.53%. During the same quarter in the prior year, the business earned $2.04 EPS. Analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,394 shares of the company’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $145.00, for a total value of $637,130.00. Following the completion of the sale, the executive vice president owned 30,193 shares in the company, valued at $4,377,985. This represents a 12.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Brian Mandell sold 25,500 shares of Phillips 66 stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $140.04, for a total value of $3,571,020.00. Following the transaction, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,959,593.52. The trade was a 30.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 86,094 shares of company stock worth $11,955,366 in the last three months. Corporate insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. TD Cowen lifted their target price on Phillips 66 from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Zacks Research raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Phillips 66 in a research report on Wednesday, October 8th. Cowen restated a “buy” rating on shares of Phillips 66 in a research note on Thursday, October 30th. Finally, Barclays lifted their price target on shares of Phillips 66 from $141.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Monday, January 12th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $150.41.

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.