Dockside LLC Invests $2.04 Million in Phillips 66 $PSX

Key Points

• Dockside LLC acquired 12,036 Phillips 66 shares in the second quarter, valued at approximately $2.04 million. Institutional investors collectively own 76.93% of the company.
• Phillips 66 reported quarterly EPS of $9.41, surpassing the $7.50 consensus estimate, while revenue reached $52.04 billion versus expectations of $43.60 billion.
• The company declared a quarterly dividend of $1.27 per share and authorized a $10 billion share-repurchase program, while analysts maintain a “Moderate Buy” consensus rating with a $206.56 target price.

Dockside LLC bought a new stake in shares of Phillips 66 (NYSE:PSX - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 12,036 shares of the oil and gas company's stock, valued at approximately $2,035,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Norges Bank bought a new position in Phillips 66 during the fourth quarter worth about $640,206,000. M&T Bank Corp boosted its holdings in Phillips 66 by 462.9% during the fourth quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company's stock valued at $352,007,000 after purchasing an additional 2,243,268 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Phillips 66 by 424.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company's stock valued at $257,512,000 after purchasing an additional 1,532,389 shares during the period. Amundi grew its stake in shares of Phillips 66 by 62.0% in the 1st quarter. Amundi now owns 3,667,451 shares of the oil and gas company's stock valued at $668,137,000 after purchasing an additional 1,403,493 shares during the period. Finally, Worldquant Millennium Advisors LLC acquired a new position in shares of Phillips 66 in the 2nd quarter worth approximately $107,967,000. Institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Down 0.1%

NYSE PSX opened at $233.29 on Monday. The stock's 50 day simple moving average is $192.72 and its 200 day simple moving average is $176.20. Phillips 66 has a one year low of $121.24 and a one year high of $236.14. The firm has a market cap of $93.09 billion, a PE ratio of 13.29, 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 issued its quarterly earnings data 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. The firm had revenue of $52.04 billion during the quarter, compared to the consensus estimate of $43.60 billion. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.During the same quarter in the previous year, the company posted $2.38 EPS. As a group, sell-side analysts forecast that Phillips 66 will post 24.44 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

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

Phillips 66 announced that its Board of Directors has authorized a share repurchase 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 buy up to 11.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

PSX has been the subject of several analyst reports. Raymond James Financial raised their target price on Phillips 66 from $218.00 to $235.00 and gave the stock an "outperform" rating in a research report on Monday, July 13th. Guggenheim upgraded Phillips 66 to an "outperform" rating in a research note on Wednesday, May 27th. Barclays lifted their price objective on Phillips 66 from $183.00 to $216.00 and gave the company an "equal weight" rating in a report on Thursday, August 6th. Morgan Stanley upped their target price on shares of Phillips 66 from $180.00 to $196.00 and gave the stock an "overweight" rating in a report on Friday, June 12th. Finally, Scotiabank increased their target price on shares of Phillips 66 from $140.00 to $151.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. One research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $206.56.

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

Insiders Place Their Bets

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 3,523 shares of the stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $211.05, for a total transaction of $743,529.15. Following the sale, the executive vice president 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin J. Mitchell sold 11,021 shares of the business's stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares of the company's stock, valued at approximately $18,504,361.28. This represents a 10.17% 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 ninety days, insiders sold 100,507 shares of company stock valued at $21,770,810. 0.40% of the stock is owned by corporate insiders.

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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