Deutsche Bank AG Buys Shares of 1,603,832 Phillips 66 $PSX

Key Points

• Deutsche Bank acquired 1.60 million Phillips 66 shares during the second quarter, valued at approximately $271.1 million and representing about 0.40% of the company.
• Phillips 66 reported quarterly earnings of $9.41 per share, well above the $7.50 analyst estimate, while revenue reached $52.04 billion. The board also authorized a $10 billion share-repurchase program covering up to 11.8% of outstanding shares.
• Shares recently traded near a 52-week high, supported by strong refining conditions and bullish analyst sentiment; the company pays a quarterly dividend of $1.27, or $5.08 annualized, for a yield of approximately 2.1%.

Deutsche Bank AG bought a new stake in shares of Phillips 66 (NYSE:PSX - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,603,832 shares of the oil and gas company's stock, valued at approximately $271,128,000. Deutsche Bank AG owned about 0.40% of Phillips 66 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of PSX. NFSG Corp boosted its holdings in Phillips 66 by 105.6% during the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company's stock valued at $27,000 after acquiring an additional 75 shares during the period. Axiom Investment Management LLC purchased a new stake in Phillips 66 in the first quarter worth $27,000. SWAN Capital LLC increased its stake in Phillips 66 by 1,055.6% in 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 period. Kelleher Financial Advisors bought a new stake in shares of Phillips 66 during the second quarter worth $29,000. Finally, J.Safra Asset Management Corp bought a new stake in shares of Phillips 66 during the second quarter worth $30,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Key Phillips 66 News

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

• Positive Sentiment: Western Gateway pipeline deal supports the rally. The reported transaction is expected to expand Phillips 66’s midstream footprint, potentially improving cash flow and giving its refining and marketing operations greater supply and distribution flexibility. Phillips 66 stock hits 52-week high as pipeline deal adds to rally Will Western Gateway Enhance PSX's Midstream & Refining Cash Flow?
• Positive Sentiment: Record diesel prices could lift refining margins. Diesel strength is diverging from crude-oil trends, creating favorable economics for refiners such as Phillips 66 and potentially supporting near-term profits and cash generation. Diesel Prices Are Breaking Records
• Positive Sentiment: Options activity signals aggressive bullish positioning. Traders purchased 52,191 PSX call options, versus an average of 2,983, indicating elevated expectations for additional upside. Options flow can amplify momentum, although it is not a guarantee of future performance. Stock Traders Purchase Large Volume of Phillips 66 Call Options
• Neutral Sentiment: A fire at a major fuel depot on a key pipeline system could disrupt refined-product supplies. The resulting supply tightness may support diesel prices and refining margins, but potential logistics or operational disruptions create uncertainty for Phillips 66. Lightning Sparks Fire at Massive US Fuel Depot
• Negative Sentiment: An executive sold more than 52,000 Phillips 66 shares after exercising options, locking in substantial gains following the stock’s strong run. The sale may weigh modestly on sentiment, though it appears related to profit-taking rather than a disclosed change in business prospects. Executive Dumps Over 52,000 Shares of Iconic Energy Stock
• Negative Sentiment: A feedstock-agreement dispute with XCF Global could expose Phillips 66 to legal or commercial uncertainty, although the available report does not indicate a material financial impact on PSX. XCF Global dispute with Phillips 66

Phillips 66 Trading Up 1.1%

Shares of NYSE PSX opened at $243.26 on Wednesday. Phillips 66 has a 1-year low of $121.24 and a 1-year high of $243.60. The business has a fifty day moving average price of $195.15 and a 200 day moving average price of $177.62. The stock has a market capitalization of $97.07 billion, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 0.17 and a beta of 0.68. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.32 and a quick ratio of 1.00.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, topping analysts' consensus estimates of $7.50 by $1.91. The business 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 previous year, the company posted $2.38 earnings per share. Equities research analysts expect that Phillips 66 will post 24.44 EPS for the current fiscal year.

Phillips 66 announced that its board has approved a share repurchase plan on Friday, July 31st that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows 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 board believes its stock is undervalued.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a $1.27 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.1%. Phillips 66's payout ratio is presently 28.95%.

Insider Activity

In related news, EVP Brian Mandell sold 30,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 61,595 shares of the company's stock, valued at $13,242,925. This represents a 32.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Vanessa Allen Sutherland sold 3,523 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 27,537 shares of the company's stock, valued at approximately $5,811,683.85. This trade represents a 11.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 100,507 shares of company stock worth $21,770,810. Insiders own 0.40% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PSX. Piper Sandler upped their price target on shares of Phillips 66 from $208.00 to $209.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. The Goldman Sachs Group boosted their price objective on shares of Phillips 66 from $207.00 to $235.00 and gave the company a "neutral" rating in a research report on Wednesday, July 22nd. Raymond James Financial upped their target price on shares of Phillips 66 from $218.00 to $235.00 and gave the stock an "outperform" rating in a research note on Monday, July 13th. Guggenheim raised shares of Phillips 66 to an "outperform" rating in a research report on Wednesday, May 27th. Finally, Scotiabank lifted their price target on shares of Phillips 66 from $140.00 to $151.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Phillips 66 presently has a consensus rating of "Moderate Buy" and an average target price of $206.56.

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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