70,057 Shares in Phillips 66 $PSX Acquired by Bryn Mawr Trust Advisors LLC

Key Points

• Bryn Mawr Trust Advisors acquired 70,057 Phillips 66 shares worth approximately $11.84 million during the second quarter, while institutional investors collectively own 76.93% of PSX.
• Phillips 66 reported strong quarterly results, with earnings of $9.41 per share beating estimates of $7.50 and revenue of $52.04 billion exceeding the $43.60 billion consensus.
• The company declared a quarterly dividend of $1.27 per share and authorized a $10 billion stock-repurchase plan, though significant recent insider selling and a share price near its 12-month high may temper investor sentiment.

Bryn Mawr Trust Advisors LLC bought a new position in Phillips 66 (NYSE:PSX - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 70,057 shares of the oil and gas company's stock, valued at approximately $11,843,000.

Several other large investors have also recently bought and sold shares of the company. Mill Capital Management LLC purchased a new position in shares of Phillips 66 during the 2nd quarter valued at $585,000. Plan Group Financial LLC purchased a new stake in shares of Phillips 66 in the second quarter worth $452,000. Dockside LLC purchased a new stake in shares of Phillips 66 in the second quarter worth $2,035,000. Belpointe Asset Management LLC boosted its stake in Phillips 66 by 5.1% during the second quarter. Belpointe Asset Management LLC now owns 5,352 shares of the oil and gas company's stock valued at $905,000 after buying an additional 258 shares during the period. Finally, Fortis Capital Advisors LLC boosted its stake in Phillips 66 by 12.7% during the second quarter. Fortis Capital Advisors LLC now owns 2,433 shares of the oil and gas company's stock valued at $411,000 after buying an additional 275 shares during the period. 76.93% of the stock is owned by institutional investors.

Phillips 66 Price Performance

PSX stock opened at $233.29 on Monday. The firm's 50-day moving average price is $192.72 and its two-hundred day moving average price is $176.20. Phillips 66 has a 12-month low of $121.24 and a 12-month high of $236.14. The stock has a market capitalization 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 company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57.

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

Phillips 66 Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a yield of 2.2%. Phillips 66's dividend payout ratio is presently 28.95%.

Phillips 66 announced that its board has authorized a stock repurchase plan on Friday, July 31st that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to buy 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.

Key Phillips 66 News

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Morgan Stanley upped their target price on Phillips 66 from $180.00 to $196.00 and gave the stock an "overweight" rating in a research note on Friday, June 12th. Jefferies Financial Group lifted their price target on Phillips 66 from $191.00 to $207.00 and gave the company a "hold" rating in a research report on Thursday, July 9th. Wall Street Zen raised Phillips 66 from a "buy" rating to a "strong-buy" rating in a report on Sunday, July 26th. Zacks Research cut shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Finally, Argus raised their target price on shares of Phillips 66 from $185.00 to $197.00 and gave the company a "buy" rating in a research note on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $206.56.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 11,021 shares of the stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total value of $2,094,320.63. Following the completion of the sale, the chief financial officer owned 97,376 shares in the company, valued at approximately $18,504,361.28. This trade represents a 10.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Vanessa Allen Sutherland sold 3,523 shares of Phillips 66 stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $211.05, for a total value of $743,529.15. Following the completion of the sale, the executive vice president owned 27,537 shares in the company, valued at approximately $5,811,683.85. This represents a 11.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 100,507 shares of company stock worth $21,770,810. 0.40% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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