CI Investments Inc. Sells 15,058 Shares of Phillips 66 $PSX

Key Points

• CI Investments Inc. cut its stake in Phillips 66 by 73.7% in Q3, selling 15,058 shares and leaving it with 5,368 shares valued at about $730,000 (per its Form 13F filing).
• Phillips 66 reported quarterly EPS of $2.47, beating estimates by $0.32, and raised its quarterly dividend to $1.27 (annualized $5.08, yield ~3.1%).
• Company insiders sold a total of 16,288 shares (~$2.5 million) during the quarter (including EVP Don Baldridge’s 7,500-share sale), while insiders overall own about 0.22% of the stock.

CI Investments Inc. reduced its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 73.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,368 shares of the oil and gas company's stock after selling 15,058 shares during the quarter. CI Investments Inc.'s holdings in Phillips 66 were worth $730,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mesirow Financial Investment Management Inc. increased its stake in Phillips 66 by 0.5% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 15,658 shares of the oil and gas company's stock worth $2,130,000 after purchasing an additional 73 shares during the period. Heck Capital Advisors LLC grew its holdings in shares of Phillips 66 by 1.2% in the third quarter. Heck Capital Advisors LLC now owns 6,124 shares of the oil and gas company's stock worth $833,000 after purchasing an additional 75 shares during the last quarter. Portside Wealth Group LLC increased its stake in shares of Phillips 66 by 3.8% in the third quarter. Portside Wealth Group LLC now owns 2,033 shares of the oil and gas company's stock worth $277,000 after buying an additional 75 shares during the period. Cobblestone Capital Advisors LLC NY increased its stake in shares of Phillips 66 by 0.4% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 16,926 shares of the oil and gas company's stock worth $2,302,000 after buying an additional 75 shares during the period. Finally, Welch & Forbes LLC raised its holdings in Phillips 66 by 1.1% during the 3rd quarter. Welch & Forbes LLC now owns 7,123 shares of the oil and gas company's stock valued at $969,000 after buying an additional 76 shares during the last quarter. Institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Performance

Phillips 66 stock opened at $166.55 on Friday. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $169.62. The stock has a market cap of $66.74 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 0.58 and a beta of 0.86. The stock's 50 day simple moving average is $146.77 and its two-hundred day simple moving average is $138.28. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.91 and a current ratio of 1.30.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.32. The company had revenue of $32.16 billion during the quarter, compared to analysts' expectations of $33.81 billion. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.During the same quarter last year, the business posted ($0.15) EPS. As a group, analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were given a $1.27 dividend. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Phillips 66's previous quarterly dividend of $1.20. Phillips 66's payout ratio is currently 46.95%.

Phillips 66 News Summary

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

• Positive Sentiment: Analyst upgrades and a higher dividend have driven renewed investor interest, lifting valuation momentum and the bull case for PSX. A Look At Phillips 66 (PSX) Valuation After Analyst Upgrades Dividend Hike And Venezuela Crude Moves
• Positive Sentiment: Rising crude prices (Brent’s recent rally) and tighter global supply support refinery margins — a direct tailwind for refiners like Phillips 66. Bad News for Drivers Is Good News for Oil Refiners
• Positive Sentiment: Coverage pieces arguing that a Venezuela heavy‑crude deal plus the dividend raise strengthen the bull case have helped push shares higher. Does Venezuela Heavy Crude Deal And Higher Dividend Change The Bull Case For Phillips 66 (PSX)?
• Neutral Sentiment: Management is evaluating shifting feedstock toward Venezuelan heavy crude — this could lower intake costs or improve crude security, but it also raises processing complexity and potential margin trade‑offs. Phillips 66 Weighs Venezuelan Crude Sourcing Shift And Margin Trade Offs
• Neutral Sentiment: Investor interest is reinforced by recent presentations (Morgan Stanley Energy & Power conference transcript) and commentary showing confidence in the company’s strategy, but transcripts rarely move near‑term stock direction on their own. Phillips 66 (PSX) Presents at Morgan Stanley Energy & Power Conference 2026 Transcript
• Neutral Sentiment: Market headlines noting the recent uptick in PSX’s share price and its outperformance versus the Dow provide context for flows but are descriptive rather than catalytic. Phillips 66 (PSX) Increases Despite Market Slip: Here's What You Need to Know

Insider Activity

In other Phillips 66 news, EVP Don Baldridge sold 7,500 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president owned 38,488 shares of the company's stock, valued at approximately $6,158,080. This trade represents a 16.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of Phillips 66 stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total transaction of $659,100.00. Following the transaction, the executive vice president owned 25,799 shares of the company's stock, valued at $3,869,850. The trade was a 14.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 16,288 shares of company stock valued at $2,496,230. 0.22% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of analyst reports. Citigroup boosted their price objective on shares of Phillips 66 from $146.00 to $159.00 and gave the company a "neutral" rating in a research report on Monday, February 9th. TD Cowen reissued a "buy" rating on shares of Phillips 66 in a research note on Friday, February 6th. Mizuho boosted their price target on Phillips 66 from $150.00 to $152.00 and gave the company a "neutral" rating in a report on Monday, January 12th. The Goldman Sachs Group increased their price objective on Phillips 66 from $152.00 to $164.00 and gave the stock a "neutral" rating in a report on Thursday, January 22nd. Finally, UBS Group reiterated a "buy" rating and issued a $172.00 price objective on shares of Phillips 66 in a research report on Friday, February 6th. Eleven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, Phillips 66 has an average rating of "Hold" and an average target price of $160.11.

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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