Kintayl Capital LP Sells 5,821 Shares of Phillips 66 $PSX

Key Points

• Kintayl Capital cut its stake in Phillips 66 by 16.6%, selling 5,821 shares to leave 29,270 shares worth about $3.98 million, making PSX its 17th largest holding (2.5% of the fund).
• Significant insider selling: EVP Brian Mandell sold 42,800 shares (≈$7.26M) and EVP Don Baldridge sold 7,500 shares (≈$1.2M); insiders have sold 84,688 shares totaling about $14.07 million in the last 90 days.
• Company results and payout: Phillips 66 beat EPS estimates ($2.47 vs. $2.15) but missed revenue expectations, recently raised its quarterly dividend to $1.27 (annualized $5.08, ~2.9% yield), and the stock trades near its 52-week high around $173.56.

Kintayl Capital LP cut its stake in Phillips 66 (NYSE:PSX - Free Report) by 16.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,270 shares of the oil and gas company's stock after selling 5,821 shares during the period. Phillips 66 makes up 2.5% of Kintayl Capital LP's holdings, making the stock its 17th largest position. Kintayl Capital LP's holdings in Phillips 66 were worth $3,981,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Evolution Wealth Management Inc. bought a new stake in shares of Phillips 66 in the second quarter valued at about $25,000. Winnow Wealth LLC bought a new position in shares of Phillips 66 during the third quarter worth about $36,000. Wealth Watch Advisors INC bought a new position in shares of Phillips 66 during the third quarter worth about $36,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Phillips 66 in the 2nd quarter valued at approximately $32,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in Phillips 66 in the 2nd quarter valued at approximately $38,000. Institutional investors own 76.93% of the company's stock.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Brian Mandell sold 42,800 shares of the company's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $169.53, for a total transaction of $7,255,884.00. Following the sale, the executive vice president directly owned 61,595 shares of the company's stock, valued at approximately $10,442,200.35. This represents a 41.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Don Baldridge sold 7,500 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the executive vice president owned 38,488 shares of the company's stock, valued at approximately $6,158,080. This represents a 16.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 84,688 shares of company stock valued at $14,066,145 in the last 90 days. Company insiders own 0.22% of the company's stock.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $173.56 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.91 and a current ratio of 1.30. The stock has a 50 day moving average price of $152.11 and a 200 day moving average price of $140.46. The stock has a market capitalization of $69.55 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 0.60 and a beta of 0.86. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $178.38.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.32. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.The firm had revenue of $32.16 billion for the quarter, compared to analyst estimates of $33.81 billion. During the same quarter in the previous year, the firm earned ($0.15) EPS. Analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were issued a dividend of $1.27 per share. The ex-dividend date was Monday, February 23rd. This is a positive change from Phillips 66's previous quarterly dividend of $1.20. This represents a $5.08 dividend on an annualized basis and a yield of 2.9%. Phillips 66's dividend payout ratio is presently 46.95%.

Analysts Set New Price Targets

PSX has been the subject of a number of recent research reports. Wells Fargo & Company upped their price target on Phillips 66 from $162.00 to $163.00 and gave the stock an "overweight" rating in a research report on Thursday, February 5th. Scotiabank reiterated a "sector perform" rating and issued a $140.00 price objective on shares of Phillips 66 in a report on Friday, January 16th. Zacks Research lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 16th. Morgan Stanley increased their target price on shares of Phillips 66 from $140.00 to $147.00 and gave the stock an "equal weight" rating in a report on Thursday, February 5th. Finally, Argus raised their target price on shares of Phillips 66 from $152.00 to $185.00 and gave the company a "buy" rating in a research report on Tuesday, February 10th. Eleven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $161.33.

About Phillips 66

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.

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