Tred Avon Family Wealth LLC Makes New $736,000 Investment in Phillips 66 $PSX

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

Other large investors have also recently modified their holdings of the company. Heck Capital Advisors LLC grew its position in Phillips 66 by 1.2% during the 3rd quarter. Heck Capital Advisors LLC now owns 6,124 shares of the oil and gas company’s stock worth $833,000 after acquiring an additional 75 shares during the last quarter. Magnus Financial Group LLC grew its holdings in shares of Phillips 66 by 2.5% in the third quarter. Magnus Financial Group LLC now owns 3,160 shares of the oil and gas company’s stock worth $430,000 after purchasing an additional 77 shares during the last quarter. Hemington Wealth Management increased its stake in shares of Phillips 66 by 15.7% in the third quarter. Hemington Wealth Management now owns 576 shares of the oil and gas company’s stock worth $78,000 after buying an additional 78 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its holdings in Phillips 66 by 1.9% during the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 4,297 shares of the oil and gas company’s stock valued at $584,000 after buying an additional 79 shares during the last quarter. Finally, CWC Advisors LLC. boosted its position in Phillips 66 by 0.6% during the 3rd quarter. CWC Advisors LLC. now owns 13,351 shares of the oil and gas company’s stock valued at $1,816,000 after buying an additional 80 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX opened at $138.27 on Friday. The company has a 50-day simple moving average of $136.07 and a two-hundred day simple moving average of $131.98. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.23 and a quick ratio of 0.87. The firm has a market capitalization of $55.71 billion, a PE ratio of 37.78, a price-to-earnings-growth ratio of 0.38 and a beta of 0.90. Phillips 66 has a one year low of $91.01 and a one year high of $145.68.

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

Insiders Place Their Bets

In other news, EVP Vanessa Allen Sutherland sold 4,394 shares of the business’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $145.00, for a total transaction of $637,130.00. Following the sale, the executive vice president owned 30,193 shares in the company, valued at approximately $4,377,985. The trade was a 12.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Brian Mandell sold 26,200 shares of the company’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total transaction of $3,607,216.00. Following the completion of the sale, the executive vice president directly owned 56,838 shares in the company, valued at $7,825,455.84. This represents a 31.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 86,094 shares of company stock worth $11,955,366. 0.22% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PSX shares. TD Cowen boosted their price objective on shares of Phillips 66 from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Barclays raised their target price on Phillips 66 from $141.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Monday, January 12th. Citigroup upped their price target on Phillips 66 from $137.00 to $146.00 and gave the company a “neutral” rating in a research report on Wednesday. JPMorgan Chase & Co. dropped their price objective on Phillips 66 from $154.00 to $151.00 and set an “overweight” rating for the company in a report on Tuesday, January 13th. Finally, Mizuho lifted their price objective on Phillips 66 from $150.00 to $152.00 and gave the stock a “neutral” rating in a research report on Monday, January 12th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $150.41.

Phillips 66 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.