Everett Harris & Co. CA purchased a new position in shares of Phillips 66 (NYSE:PSX - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 13,632 shares of the oil and gas company's stock, valued at approximately $2,304,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the business. NFSG Corp grew its stake in Phillips 66 by 105.6% in the 1st 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 period. Axiom Investment Management LLC bought a new stake in shares of Phillips 66 during the 1st quarter worth $27,000. SWAN Capital LLC boosted its holdings in shares of 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 worth $27,000 after buying an additional 190 shares during the last quarter. Wealth Watch Advisors INC purchased a new position in shares of Phillips 66 in the 3rd quarter worth about $36,000. Finally, Sfam LLC bought a new position in Phillips 66 during the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 76.93% of the company's stock.
Key Stories Impacting Phillips 66
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
Wall Street Analysts Forecast Growth
PSX has been the topic of several research reports. Weiss Ratings raised shares of Phillips 66 from a "hold (c)" rating to a "buy (b)" rating in a research report on Wednesday. BMO Capital Markets increased their target price on shares of Phillips 66 from $195.00 to $215.00 and gave the company an "outperform" rating in a research report on Wednesday, May 13th. Scotiabank raised their price target on shares of Phillips 66 from $140.00 to $151.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 22nd. Jefferies Financial Group lifted their price target on shares of Phillips 66 from $191.00 to $207.00 and gave the stock a "hold" rating in a report on Thursday, July 9th. Finally, JPMorgan Chase & Co. upped their price objective on Phillips 66 from $188.00 to $202.00 in a research note on Thursday, April 30th. 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $206.56.
View Our Latest Research Report on Phillips 66
Phillips 66 Trading Down 0.1%
Shares of Phillips 66 stock opened at $233.29 on Monday. The stock has a market capitalization of $93.09 billion, a P/E ratio of 13.29, a P/E/G ratio of 0.17 and a beta of 0.68. Phillips 66 has a 52-week low of $121.24 and a 52-week high of $236.14. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.32. The stock's 50-day simple moving average is $192.72 and its 200 day simple moving average is $176.20.
Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share for the quarter, topping analysts' consensus estimates of $7.50 by $1.91. The firm had revenue of $52.04 billion during the quarter, compared to analyst estimates of $43.60 billion. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. During the same quarter last year, the business earned $2.38 earnings per share. As a group, research analysts anticipate that Phillips 66 will post 24.44 EPS for the current year.
Phillips 66 Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, August 18th. Phillips 66's dividend payout ratio is presently 28.95%.
Phillips 66 announced that its Board of Directors has initiated a share repurchase program on Friday, July 31st that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 11.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.
Insider Buying and Selling at Phillips 66
In other Phillips 66 news, EVP Brian Mandell sold 30,000 shares of the 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 sale, the executive vice president owned 61,595 shares in the company, 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, CFO Kevin J. Mitchell sold 11,021 shares of the firm's stock in a transaction 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 transaction, the chief financial officer directly owned 97,376 shares of the company's stock, valued at $18,504,361.28. The trade was a 10.17% 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. Over the last 90 days, insiders have sold 100,507 shares of company stock valued at $21,770,810. 0.40% of the stock is owned by corporate insiders.
Phillips 66 Profile
(
Free Report)
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.
Further Reading
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