Janus Henderson Group PLC Grows Stock Holdings in Phillips 66 $PSX

Key Points

• Janus Henderson increased its Phillips 66 stake by 71.8% in the first quarter, bringing its holdings to 39,267 shares valued at approximately $7.15 million. Institutional investors collectively own 76.93% of PSX.
• Phillips 66 reported quarterly EPS of $9.41, far exceeding the $7.50 consensus estimate, while revenue reached $52.04 billion. Results benefited from wider refining margins, stronger chemicals performance and record midstream volumes.
• The company authorized a $10 billion share-repurchase program, equal to up to 11.8% of outstanding shares, and declared a quarterly dividend of $1.27 per share. However, the stock is near its 12-month high, and recent insider activity has primarily involved sales.

Janus Henderson Group PLC boosted its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 71.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,267 shares of the oil and gas company's stock after buying an additional 16,414 shares during the quarter. Janus Henderson Group PLC's holdings in Phillips 66 were worth $7,154,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Phillips 66 in the 4th quarter valued at approximately $640,206,000. M&T Bank Corp increased its position in shares of Phillips 66 by 462.9% in 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 buying an additional 2,243,268 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Phillips 66 by 424.7% in the third 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 buying an additional 1,532,389 shares in the last quarter. Amundi raised its stake in shares of Phillips 66 by 62.0% during the 1st quarter. Amundi now owns 3,667,451 shares of the oil and gas company's stock worth $668,137,000 after buying an additional 1,403,493 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new position in shares of Phillips 66 during the 2nd quarter worth $107,967,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Phillips 66

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

• Positive Sentiment: Phillips 66 earned $9.41 per share, well above analyst estimates of approximately $7.50–$7.68 and up sharply from $2.38 a year earlier. Revenue also exceeded expectations, supported by wider refining margins, stronger chemicals results and record midstream volumes. Phillips 66 Beats Q2 Earnings and Revenue Estimates
• Positive Sentiment: The company reduced debt by $6.6 billion and approved a $10 billion expansion of its share-repurchase authorization. The buyback signals confidence in cash generation and could support per-share earnings and shareholder returns. Phillips 66 Cashes In on Refining Boom
• Positive Sentiment: Management plans to operate its refineries at roughly the mid-90% capacity range in the third quarter, indicating confidence in demand and operating conditions. Midstream growth and improved chemicals performance provide additional earnings support beyond refining. Phillips 66 Plans Refineries to Run at Mid-90% Capacity
• Neutral Sentiment: Refining profitability benefited from supply disruptions connected to the Middle East, which widened fuel spreads. While favorable for near-term results, investors may view these gains as cyclical and difficult to sustain if global supply conditions normalize.
• Negative Sentiment: PSX is trading near its 12-month high after a significant rally, increasing the risk of profit-taking following the earnings release. Recent insider activity has also been weighted toward sales, although such transactions may reflect routine diversification rather than a change in business outlook.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $202.20 on Thursday. The company has a 50-day simple moving average of $187.27 and a 200-day simple moving average of $172.26. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The company has a market cap of $81.07 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 0.16 and a beta of 0.68. Phillips 66 has a 12 month low of $118.07 and a 12 month high of $216.08.

Phillips 66 (NYSE:PSX - Get Free Report) last announced 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. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The business had revenue of $52.04 billion for the quarter, compared to the consensus estimate of $43.60 billion. During the same quarter in the prior year, the firm posted $2.38 earnings per share. On average, equities analysts anticipate that Phillips 66 will post 22.43 earnings per share for the current year.

Phillips 66 declared that its Board of Directors has authorized a stock buyback 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 repurchase up to 11.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its stock is undervalued.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders 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 2.5%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66's dividend payout ratio is currently 50.05%.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 29,400 shares of the firm's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the sale, the chief financial officer owned 97,376 shares in the company, valued at $16,553,920. This trade represents a 23.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Vanessa Allen Sutherland sold 3,523 shares of Phillips 66 stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $211.05, for a total value of $743,529.15. Following the completion of the sale, the executive vice president directly owned 27,537 shares of the company's stock, valued at approximately $5,811,683.85. This represents a 11.34% decrease in their position. 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 three months, insiders have sold 45,107 shares of company stock worth $8,057,584. Corporate insiders own 0.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. TD Cowen increased their price objective on shares of Phillips 66 from $220.00 to $240.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Citigroup lifted their target price on shares of Phillips 66 from $183.00 to $204.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 14th. UBS Group upped their price target on shares of Phillips 66 from $212.00 to $235.00 and gave the company a "buy" rating in a report on Monday, July 27th. The Goldman Sachs Group increased their price target 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. Finally, JPMorgan Chase & Co. raised their price objective on shares of Phillips 66 from $188.00 to $202.00 in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $201.72.

Phillips 66 Company 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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