214,827 Shares in Phillips 66 $PSX Purchased by Stack Financial Management Inc

Key Points

• Stack Financial Management purchased 214,827 Phillips 66 shares worth approximately $36.3 million, making PSX about 2.8% of its portfolio and its ninth-largest holding. Institutional investors collectively own 76.93% of the stock.
• Phillips 66 reported quarterly EPS of $9.41, exceeding the $7.50 consensus estimate, while revenue reached $52.04 billion. The company also authorized a $10 billion share-repurchase program and declared a $1.27 quarterly dividend.
• PSX shares opened at $233.29, near their 52-week high of $236.14, while analysts maintain a “Moderate Buy” consensus with an average price target of $206.56. Recent insider selling totaled about $21.8 million, potentially raising valuation concerns.

Stack Financial Management Inc purchased a new position in shares of Phillips 66 (NYSE:PSX - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 214,827 shares of the oil and gas company's stock, valued at approximately $36,317,000. Phillips 66 makes up about 2.8% of Stack Financial Management Inc's holdings, making the stock its 9th biggest holding. Stack Financial Management Inc owned approximately 0.05% of Phillips 66 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSX. Vanguard Group Inc. boosted its stake in Phillips 66 by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company's stock worth $6,701,052,000 after buying an additional 205,480 shares during the last quarter. State Street Corp grew its stake in Phillips 66 by 0.8% during the fourth quarter. State Street Corp now owns 23,589,550 shares of the oil and gas company's stock worth $3,043,996,000 after buying an additional 175,616 shares during the period. Geode Capital Management LLC increased its holdings in Phillips 66 by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company's stock valued at $1,338,596,000 after purchasing an additional 45,340 shares in the last quarter. Norges Bank acquired a new stake in shares of Phillips 66 in the fourth quarter valued at about $640,206,000. Finally, Charles Schwab Investment Management Inc. grew its position in Phillips 66 by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,944,561 shares of the oil and gas company's stock valued at $509,006,000 after acquiring an additional 89,621 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

Shares of PSX opened at $233.29 on Monday. Phillips 66 has a 52 week low of $121.24 and a 52 week high of $236.14. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57. The firm has a market cap of $93.09 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 0.17 and a beta of 0.68. The stock has a 50 day moving average of $192.72 and a 200-day moving average of $176.20.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.50 by $1.91. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.The business had revenue of $52.04 billion for the quarter, compared to analyst estimates of $43.60 billion. During the same period in the prior year, the company posted $2.38 EPS. As a group, analysts forecast that Phillips 66 will post 24.44 EPS for the current year.

Phillips 66 declared that its Board of Directors has approved a share buyback plan on Friday, July 31st that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the oil and gas company to purchase up to 11.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a dividend of $1.27 per share. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 annualized dividend and a yield of 2.2%. Phillips 66's payout ratio is presently 28.95%.

Phillips 66 News Summary

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

• Positive Sentiment: Takeover talks highlight strategic value. Phillips 66 and Marathon Petroleum reportedly discussed a potential combination valued at roughly $180 billion. Although the talks did not result in a deal, the discussions underscore PSX’s scale and could renew speculation about consolidation among U.S. refiners. Phillips 66 and Marathon Petroleum held takeover talks
• Positive Sentiment: Refining margins and shareholder returns remain supportive. Supply disruptions linked to the Iran conflict have lifted fuel margins, helping major refiners generate strong profits and increase buybacks and dividends. Phillips 66 has authorized a $10 billion repurchase program and pays a quarterly dividend of $1.27 per share. U.S. refiners ramp up buybacks as Iran war boosts fuel margins
• Positive Sentiment: Infrastructure expansion adds a longer-term growth angle. PSX, Kinder Morgan and HF Sinclair are advancing the approximately $5 billion Western Gateway refined-products pipeline, which is expected to improve market access and logistics flexibility. Phillips 66 and partners advance Western Gateway pipeline project
• Neutral Sentiment: Merger failure limits the immediate upside from consolidation. Antitrust concerns and operational complexity reportedly derailed the proposed Marathon Petroleum transaction. The outcome removes a near-term transformational catalyst, while the broader energy-sector rally and PSX’s premium valuation leave the stock more exposed to a reversal in refining margins. Reported Phillips 66 and Marathon Petroleum merger analysis
• Negative Sentiment: Heavy insider selling may weigh on sentiment. EVP Richard Harbison sold 52,100 shares for approximately $11.7 million, while EVP Brian Mandell sold 33,300 shares for about $7.2 million. The trades may be profit-taking after PSX’s strong rally, but they reduce insiders’ holdings and could raise short-term concerns about valuation. Richard Harbison sells Phillips 66 shares

Insider Buying and Selling at Phillips 66

In other news, EVP Richard G. Harbison sold 52,100 shares of Phillips 66 stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $223.76, for a total value of $11,657,896.00. Following the completion of the transaction, the executive vice president directly owned 39,094 shares of the company's stock, valued at approximately $8,747,673.44. The trade was a 57.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Brian Mandell sold 30,000 shares of the business's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $215.00, for a total transaction of $6,450,000.00. Following the sale, the executive vice president directly owned 61,595 shares of the company's stock, valued at approximately $13,242,925. This represents a 32.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 100,507 shares of company stock worth $21,770,810 in the last ninety days. 0.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PSX has been the topic of a number of recent analyst reports. Raymond James Financial boosted their price objective on shares of Phillips 66 from $218.00 to $235.00 and gave the stock an "outperform" rating in a report on Monday, July 13th. Wells Fargo & Company increased their price objective on shares of Phillips 66 from $201.00 to $239.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Zacks Research lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Weiss Ratings raised shares of Phillips 66 from a "hold (c)" rating to a "buy (b)" rating in a research report on Wednesday. Finally, Morgan Stanley upped their target price on shares of Phillips 66 from $180.00 to $196.00 and gave the company an "overweight" rating in a research note on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $206.56.

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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