Energy Income Partners LLC Invests $19.38 Million in Phillips 66 $PSX

Key Points

• Energy Income Partners bought 114,652 Phillips 66 shares worth approximately $19.38 million in the second quarter. Institutional investors and hedge funds collectively own 76.93% of PSX.
• Phillips 66 reported quarterly EPS of $9.41, well above the $7.50 consensus estimate, on revenue of $52.04 billion. The company also authorized a $10 billion share-repurchase program and declared a quarterly dividend of $1.27.
• Analyst sentiment is broadly positive, with an average “Moderate Buy” rating and a $206.56 price target, although insiders sold 100,507 shares worth $21.77 million during the last quarter as PSX traded near its 52-week high.

Energy Income Partners LLC purchased a new stake in Phillips 66 (NYSE:PSX - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 114,652 shares of the oil and gas company's stock, valued at approximately $19,382,000.

Several other hedge funds have also recently bought and sold shares of the stock. NFSG Corp grew its position in shares of Phillips 66 by 105.6% in the first quarter. NFSG Corp now owns 146 shares of the oil and gas company's stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Axiom Investment Management LLC acquired a new position in Phillips 66 in the 1st quarter valued at $27,000. SWAN Capital LLC grew its holdings in Phillips 66 by 1,055.6% in the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company's stock valued at $27,000 after buying an additional 190 shares in the last quarter. Kelleher Financial Advisors bought a new position in Phillips 66 during the 2nd quarter worth $29,000. Finally, J.Safra Asset Management Corp acquired a new stake in shares of Phillips 66 during the second quarter worth $30,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Brian Mandell sold 30,000 shares of the firm's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $215.00, for a total transaction of $6,450,000.00. Following the completion of the transaction, the executive vice president directly owned 61,595 shares of the company's stock, valued at $13,242,925. This trade represents a 32.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Richard G. Harbison sold 52,100 shares of the 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 sale, 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 disclosure for this sale is available in the SEC filing. Insiders sold 100,507 shares of company stock valued at $21,770,810 in the last quarter. 0.40% of the stock is currently owned by company insiders.

Key Stories Impacting Phillips 66

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on PSX. Citigroup reiterated a "neutral" rating on shares of Phillips 66 in a research report on Thursday, August 6th. UBS Group increased their price objective on shares of Phillips 66 from $212.00 to $235.00 and gave the stock a "buy" rating in a research note on Monday, July 27th. Weiss Ratings raised shares of Phillips 66 from a "hold (c)" rating to a "buy (b)" rating in a report on Wednesday, August 12th. The Goldman Sachs Group upped their price target on shares of Phillips 66 from $207.00 to $235.00 and gave the stock a "neutral" rating in a report on Wednesday, July 22nd. Finally, Jefferies Financial Group increased their price target on shares of Phillips 66 from $191.00 to $207.00 and gave the stock a "hold" rating in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, Phillips 66 has an average rating of "Moderate Buy" and an average price target of $206.56.

Phillips 66 Trading Up 1.1%

NYSE PSX opened at $243.26 on Wednesday. The company has a market cap of $97.07 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 0.17 and a beta of 0.68. Phillips 66 has a twelve month low of $121.24 and a twelve month high of $243.60. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.57. The business's fifty day moving average is $195.15 and its 200 day moving average is $177.62.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results 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. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.The firm had revenue of $52.04 billion during the quarter, compared to the consensus estimate of $43.60 billion. During the same period last year, the company earned $2.38 earnings per share. As a group, sell-side analysts expect that Phillips 66 will post 24.44 EPS for the current fiscal year.

Phillips 66 declared that its Board of Directors has authorized a share repurchase program on Friday, July 31st that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the oil and gas company to buy up to 11.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Phillips 66 Announces Dividend

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

Phillips 66 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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