Flagship Capital Management Inc. Invests $1.89 Million in Phillips 66 $PSX

Key Points

• Flagship Capital Management opened a new position in Phillips 66, buying 14,610 shares in Q4 valued at about $1.89 million, which represents roughly 1.3% of Flagship's holdings and is its 24th-largest position.
• Analysts have been raising price targets on PSX (e.g., JPMorgan to $188, BMO to $195) and refiners are benefitting from very strong crack spreads (above $41/bbl), supporting near-term refining profits and bullish sentiment.
• Phillips 66 flagged about $900 million in derivatives losses tied to net-short commodity positions as oil and diesel spiked, an immediate earnings and cash-flow headwind; at the same time insiders have been selling and the company raised its quarterly dividend to $1.27 (a 3.2% yield).

Flagship Capital Management Inc. bought a new position in shares of Phillips 66 (NYSE:PSX - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 14,610 shares of the oil and gas company's stock, valued at approximately $1,885,000. Phillips 66 accounts for approximately 1.3% of Flagship Capital Management Inc.'s holdings, making the stock its 24th biggest position.

Several other large investors have also recently made changes to their positions in PSX. Vanguard Group Inc. increased its position in shares of Phillips 66 by 11.6% during the third quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company's stock worth $7,035,574,000 after purchasing an additional 5,356,558 shares in the last quarter. Elliott Investment Management L.P. increased its position in shares of Phillips 66 by 22.4% during the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company's stock worth $2,296,644,000 after purchasing an additional 3,526,000 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Phillips 66 by 424.7% during the third quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company's stock worth $257,512,000 after purchasing an additional 1,532,389 shares in the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in shares of Phillips 66 during the second quarter worth approximately $107,967,000. Finally, Holocene Advisors LP increased its position in shares of Phillips 66 by 2,433.1% during the second quarter. Holocene Advisors LP now owns 711,599 shares of the oil and gas company's stock worth $84,894,000 after purchasing an additional 683,507 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Phillips 66

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

• Positive Sentiment: Analysts lifted targets and/or kept positive ratings — big firms raised their 12-month targets (JPMorgan to $188/overweight, BMO to $195/outperform, Citi to $183/neutral and others), signaling continued confidence in PSX’s earnings power and downstream margins. This analyst momentum is providing support despite stock weakness. JPMorgan Adjusts Price Target on Phillips 66
• Positive Sentiment: Refining margins remain very strong: Benzinga notes the crack spread held above $41/bbl even as WTI dipped on ceasefire optimism, meaning refiners including Phillips 66 are still running “war-era” margins that should boost near-term refining profits heading into earnings season (reports Apr 29–May 5). Crude Fell, The Crack Spread Didn’t: 6 Refiner Stocks To Watch This Earnings Season
• Neutral Sentiment: Strategic/valuation commentary — some analysts and writes note Phillips 66’s strong execution but caution the stock may have run up (valuation risks). That frames upside as more dependent on upcoming results and margin sustainability. Phillips 66: Strong Execution, But The Stock Got There First
• Neutral Sentiment: Broader energy/transportation noise — Delta’s earnings highlight a spike in jet-fuel costs and supply disruptions tied to the Middle East; this is a mixed signal for PSX: higher product prices can lift refining margins but also add volatility and risk of demand responses. Delta's Double Miss Is a Warning for Airline Stocks
• Negative Sentiment: Phillips 66 flagged about $900 million in derivatives losses tied to net-short commodity positions as oil and diesel spiked — an immediate earnings and cash-flow headwind that likely pressured the stock today. Investors will watch management’s commentary on hedging and how this impacts reported Q2 results. Phillips 66 Flags $900 Million Derivatives Loss As Oil Surges 68%

Insider Buying and Selling at Phillips 66

In other news, Director Lisa Ann Davis sold 3,800 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $174.37, for a total transaction of $662,606.00. Following the completion of the transaction, the director directly owned 8,701 shares in the company, valued at approximately $1,517,193.37. This represents a 30.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin J. Mitchell sold 16,856 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $168.22, for a total value of $2,835,516.32. Following the transaction, the chief financial officer owned 97,376 shares of the company's stock, valued at approximately $16,380,590.72. This represents a 14.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 95,923 shares of company stock worth $16,399,619. Insiders own 0.22% of the company's stock.

Phillips 66 Stock Performance

NYSE PSX opened at $160.85 on Friday. The stock has a market cap of $64.46 billion, a PE ratio of 14.87, a P/E/G ratio of 0.29 and a beta of 0.76. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62. Phillips 66 has a twelve month low of $93.50 and a twelve month high of $190.61. The stock has a fifty day simple moving average of $165.35 and a 200-day simple moving average of $146.00.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.32. The business 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 period in the prior year, the business posted ($0.15) EPS. Equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were issued a dividend of $1.27 per share. The ex-dividend date was Monday, February 23rd. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.2%. This is a boost from Phillips 66's previous quarterly dividend of $1.20. Phillips 66's dividend payout ratio (DPR) is currently 46.95%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PSX. Barclays boosted their price target on Phillips 66 from $158.00 to $177.00 and gave the stock an "equal weight" rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on Phillips 66 from $161.00 to $188.00 and gave the stock an "overweight" rating in a research report on Wednesday. Mizuho boosted their price target on Phillips 66 from $152.00 to $170.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 17th. TD Cowen boosted their price target on Phillips 66 from $155.00 to $213.00 and gave the stock a "buy" rating in a research report on Wednesday, April 1st. Finally, BMO Capital Markets boosted their price target on Phillips 66 from $175.00 to $195.00 and gave the stock an "outperform" rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of "Moderate Buy" and an average target price of $180.39.

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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