19,793 Shares in Phillips 66 $PSX Purchased by First Nebraska Trust Co

Key Points

• First Nebraska Trust Co. purchased 19,793 Phillips 66 shares during the first quarter, valued at approximately $3.6 million. Institutional investors collectively own 76.93% of PSX.
• Phillips 66 authorized a $10 billion share repurchase program, allowing the company to buy back up to 11.8% of its outstanding shares. It also declared a quarterly dividend of $1.27 per share, representing a 2.4% annualized yield.
• PSX recently traded near its 12-month high at $211.56, while analysts maintain a “Moderate Buy” consensus with an average price target of $201.72. Upcoming earnings could be a key catalyst, particularly as investors assess refining margins and cash flow.

First Nebraska Trust Co purchased a new stake in Phillips 66 (NYSE:PSX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 19,793 shares of the oil and gas company's stock, valued at approximately $3,606,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Accordant Advisory Group Inc lifted its position in Phillips 66 by 900.0% during the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company's stock worth $26,000 after acquiring an additional 180 shares during the period. Eagle Bay Advisors LLC acquired a new position in shares of Phillips 66 in the fourth quarter valued at approximately $27,000. NFSG Corp increased its holdings in shares of Phillips 66 by 105.6% in the first quarter. NFSG Corp now owns 146 shares of the oil and gas company's stock valued at $27,000 after purchasing an additional 75 shares during the period. Axiom Investment Management LLC purchased a new stake in shares of Phillips 66 during the first quarter worth approximately $27,000. Finally, SWAN Capital LLC raised its stake in shares of Phillips 66 by 1,055.6% during the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company's stock worth $27,000 after purchasing an additional 190 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 News Roundup

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Phillips 66’s board authorized an additional $10 billion for share repurchases. The expanded authorization gives the refiner substantial flexibility to return capital, potentially reducing the share count, supporting future earnings per share and signaling management’s confidence in the company’s long-term cash generation. Phillips 66 approves $10 billion increase to share repurchase program
• Positive Sentiment: Recent strength across energy stocks and better-than-expected results from refining peer Valero Energy suggest a supportive sector backdrop for Phillips 66 ahead of its own quarterly report. Valero Energy Beats Q2 Earnings and Revenue Estimates
• Neutral Sentiment: Analysts are focusing on Phillips 66’s upcoming earnings, with expectations supported by softer crude costs and potentially stronger refinery margins. The report could provide the next major catalyst for PSX.
• Negative Sentiment: The stock’s premium valuation raises the stakes for the upcoming results. Any disappointment in refining margins, guidance or cash flow could limit the benefit of the buyback announcement. Phillips 66's Q2 Earnings on Deck: Should You Bet on the Stock?

Insiders Place Their Bets

In other news, EVP Vanessa Allen Sutherland sold 3,523 shares of the company's stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $211.05, for a total transaction of $743,529.15. Following the transaction, the executive vice president directly owned 27,537 shares of the company's stock, valued at $5,811,683.85. This represents a 11.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Omar Meyers purchased 175 shares of the business's stock in a transaction dated Wednesday, May 6th. The stock was bought at an average price of $173.12 per share, with a total value of $30,296.00. Following the acquisition, the director directly owned 16,799 shares in the company, valued at approximately $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have sold 45,107 shares of company stock worth $8,057,584. Corporate insiders own 0.40% of the company's stock.

Phillips 66 Stock Up 0.5%

PSX opened at $211.56 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The business has a 50 day simple moving average of $185.51 and a 200-day simple moving average of $170.67. The stock has a market capitalization of $84.82 billion, a P/E ratio of 20.84, a P/E/G ratio of 0.17 and a beta of 0.69. Phillips 66 has a 12 month low of $118.07 and a 12 month high of $216.08.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of ($0.54) by $1.03. The firm had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.Phillips 66's quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.90) earnings per share. On average, equities analysts anticipate that Phillips 66 will post 22.43 earnings per share for the current fiscal year.

Phillips 66 announced that its board has initiated a share buyback plan on Friday, July 31st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the oil and gas company to repurchase up to 11.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its shares are undervalued.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, August 18th. Phillips 66's payout ratio is presently 50.05%.

Analysts Set New Price Targets

PSX has been the subject of several recent research reports. Jefferies Financial Group increased their price target on Phillips 66 from $191.00 to $207.00 and gave the stock a "hold" rating in a report on Thursday, July 9th. Piper Sandler reissued a "neutral" rating and issued a $208.00 price objective on shares of Phillips 66 in a research note on Thursday, July 23rd. Morgan Stanley upped their price objective on shares of Phillips 66 from $180.00 to $196.00 and gave the stock an "overweight" rating in a research report on Friday, June 12th. Wall Street Zen upgraded shares of Phillips 66 from a "buy" rating to a "strong-buy" rating in a research note on Sunday, July 26th. Finally, Wolfe Research lifted their target price on shares of Phillips 66 from $187.00 to $193.00 and gave the company an "outperform" rating in a report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $201.72.

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.

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