Kayne Anderson Capital Advisors LP Sells 216,900 Shares of Phillips 66 (NYSE:PSX)

Kayne Anderson Capital Advisors LP decreased its position in Phillips 66 (NYSE:PSXGet Rating) by 35.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 400,752 shares of the oil and gas company’s stock after selling 216,900 shares during the period. Kayne Anderson Capital Advisors LP’s holdings in Phillips 66 were worth $32,349,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PSX. Wellington Management Group LLP boosted its stake in Phillips 66 by 62.1% in the 1st quarter. Wellington Management Group LLP now owns 7,188,087 shares of the oil and gas company’s stock worth $620,979,000 after purchasing an additional 2,753,700 shares in the last quarter. FMR LLC lifted its stake in Phillips 66 by 18.9% during the 2nd quarter. FMR LLC now owns 10,264,690 shares of the oil and gas company’s stock valued at $841,602,000 after acquiring an additional 1,634,573 shares during the period. State Street Corp lifted its stake in Phillips 66 by 2.7% during the 2nd quarter. State Street Corp now owns 32,668,525 shares of the oil and gas company’s stock valued at $2,678,492,000 after acquiring an additional 854,076 shares during the period. Renaissance Technologies LLC lifted its stake in Phillips 66 by 50.3% during the 1st quarter. Renaissance Technologies LLC now owns 2,053,650 shares of the oil and gas company’s stock valued at $177,415,000 after acquiring an additional 687,650 shares during the period. Finally, AQR Capital Management LLC lifted its stake in Phillips 66 by 194.6% during the 2nd quarter. AQR Capital Management LLC now owns 888,094 shares of the oil and gas company’s stock valued at $72,814,000 after acquiring an additional 586,601 shares during the period. Institutional investors own 70.76% of the company’s stock.

Phillips 66 Stock Performance

Phillips 66 stock traded down $0.90 during midday trading on Wednesday, hitting $106.11. The stock had a trading volume of 250,657 shares, compared to its average volume of 2,815,104. The firm’s fifty day moving average is $104.51 and its two-hundred day moving average is $95.44. The company has a market capitalization of $50.15 billion, a PE ratio of 4.90, a P/E/G ratio of 0.40 and a beta of 1.41. Phillips 66 has a 52-week low of $73.85 and a 52-week high of $113.53. The company has a current ratio of 1.30, a quick ratio of 1.06 and a debt-to-equity ratio of 0.50.

Phillips 66 (NYSE:PSXGet Rating) last released its earnings results on Tuesday, November 1st. The oil and gas company reported $6.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.98 by $1.48. The company had revenue of $48.76 billion during the quarter, compared to analyst estimates of $40.68 billion. Phillips 66 had a net margin of 6.18% and a return on equity of 32.66%. During the same period in the prior year, the firm posted $3.18 EPS. On average, research analysts forecast that Phillips 66 will post 19.45 EPS for the current year.

Insider Buying and Selling

In related news, VP Joseph Scott Pruitt sold 3,000 shares of the stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $111.86, for a total value of $335,580.00. Following the completion of the sale, the vice president now directly owns 15,302 shares of the company’s stock, valued at approximately $1,711,681.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.74% of the stock is currently owned by insiders.

Analyst Ratings Changes

PSX has been the topic of several research analyst reports. Morgan Stanley upped their target price on shares of Phillips 66 from $115.00 to $125.00 and gave the company an “equal weight” rating in a research note on Friday, January 20th. Mizuho restated a “neutral” rating and set a $121.00 target price (up previously from $115.00) on shares of Phillips 66 in a research note on Tuesday, January 10th. Jefferies Financial Group began coverage on shares of Phillips 66 in a research report on Wednesday, October 19th. They set a “hold” rating and a $105.00 price target for the company. Cowen upped their price target on shares of Phillips 66 to $115.00 in a research report on Tuesday, November 15th. Finally, Piper Sandler reduced their price target on shares of Phillips 66 from $155.00 to $137.00 and set an “overweight” rating for the company in a research report on Monday, December 19th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $118.93.

Phillips 66 Company Profile

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Phillips 66 operates as an energy manufacturing and logistics company. 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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