Merit Financial Group LLC Increases Stake in Phillips 66 $PSX

Key Points

• Merit Financial Group LLC increased its stake in Phillips 66 by 32.5% in Q4, buying 7,737 shares to hold 31,557 shares valued at about $4.07M.
• Insiders have been net sellers: EVP Don Baldridge sold 7,500 shares and Director Lisa Ann Davis sold 3,800, with insiders offloading 95,923 shares worth roughly $16.4M over the last 90 days (insiders now own 0.40%).
• The backdrop is mixed—Phillips 66 disclosed roughly a $900M pre-tax mark-to-market hedge loss that pressured the stock, but it declared a quarterly dividend of $1.27 (annualized $5.08, 3.2% yield) and the analyst consensus is a Hold with a $180.72 price target amid several recent target increases.

Merit Financial Group LLC raised its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 32.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,557 shares of the oil and gas company's stock after buying an additional 7,737 shares during the quarter. Merit Financial Group LLC's holdings in Phillips 66 were worth $4,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in PSX. Board of the Pension Protection Fund bought a new position in shares of Phillips 66 during the 4th quarter valued at approximately $26,000. Accordant Advisory Group Inc boosted its position in shares of Phillips 66 by 900.0% during the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company's stock valued at $26,000 after acquiring an additional 180 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in shares of Phillips 66 during the 4th quarter valued at approximately $27,000. Stephens Consulting LLC boosted its position in shares of Phillips 66 by 67.7% during the 4th quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company's stock valued at $29,000 after acquiring an additional 90 shares during the last quarter. Finally, Dorato Capital Management bought a new position in shares of Phillips 66 during the 4th quarter valued at approximately $35,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Don Baldridge sold 7,500 shares of Phillips 66 stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the executive vice president directly owned 38,488 shares in the company, valued at approximately $6,158,080. This trade represents a 16.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lisa Ann Davis sold 3,800 shares of Phillips 66 stock in a transaction on Friday, March 13th. The stock was sold at an average price of $174.37, for a total value of $662,606.00. Following the sale, the director owned 8,701 shares of the company's stock, valued at approximately $1,517,193.37. This trade represents a 30.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 95,923 shares of company stock valued at $16,399,619 over the last 90 days. 0.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PSX shares. JPMorgan Chase & Co. increased their target price on Phillips 66 from $161.00 to $188.00 and gave the company an "overweight" rating in a research report on Wednesday, April 8th. Wall Street Zen downgraded Phillips 66 from a "strong-buy" rating to a "buy" rating in a research report on Saturday, April 11th. Barclays increased their target price on Phillips 66 from $158.00 to $177.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 8th. The Goldman Sachs Group increased their target price on Phillips 66 from $186.00 to $192.00 and gave the company a "neutral" rating in a research report on Friday, April 10th. Finally, Scotiabank upgraded Phillips 66 to a "hold" rating in a research report on Friday, March 27th. Eleven research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $180.72.

Key Stories Impacting Phillips 66

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

• Positive Sentiment: Board declared a quarterly cash dividend of $1.27 per share, supporting the stock’s income profile and signaling continued capital return to shareholders. Phillips 66 Announces Quarterly Dividend
• Positive Sentiment: Wells Fargo reaffirmed its Buy rating, providing some analyst support amid volatility. Wells Fargo Reaffirms Their Buy Rating on Phillips 66 (PSX)
• Positive Sentiment: CEO comments that global oil supply “will not snap back quickly” after the Iran conflict imply sustained tightness in product markets, which can support refining and marketing margins over time. Global oil supply will not snap back quickly after Iran war, Phillips 66 CEO Lashier says
• Neutral Sentiment: Recent pullback has attracted valuation checks: PSX is down over the past month but shows strong 3‑month and 1‑year returns — a reminder that near-term volatility may be a buying opportunity for longer-term holders. Phillips 66 (PSX) Valuation Check After Recent Share Price Pullback And Strong Longer Term Returns
• Negative Sentiment: Phillips 66 disclosed roughly $900M of pre-tax mark-to-market losses on commodity hedges for Q1, plus related collateral outflows and quarter-specific operational headwinds — a major driver of today’s selloff as investors reprice near-term cash flow risk. Phillips 66 slides as investors weigh $900M hedge mark-to-market hit and Q1 volatility ahead of earnings
• Negative Sentiment: Broader energy group weakness after reports the Strait of Hormuz was open reduced wartime risk premia in oil markets, pressuring refiners and integrated oil names including PSX. Energy Stocks Lose Wartime Gains
• Negative Sentiment: Jefferies cut PSX to Hold — another headwind for sentiment amid the recent volatility and earnings uncertainty. Phillips 66 NYSE: PSX Cut to "Hold" at Jefferies Financial Group

Phillips 66 Stock Up 0.0%

Shares of PSX opened at $156.44 on Monday. The company has a market cap of $62.69 billion, a PE ratio of 14.46, a P/E/G ratio of 0.28 and a beta of 0.76. The business has a fifty day moving average of $166.55 and a 200 day moving average of $147.17. Phillips 66 has a 52-week low of $95.70 and a 52-week high of $190.61. The company has a quick ratio of 0.91, a current ratio of 1.30 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.32. The company had revenue of $32.16 billion during the quarter, compared to the consensus estimate 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 last year, the company earned ($0.15) earnings per share. On average, sell-side analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be given a $1.27 dividend. The ex-dividend date is Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a yield of 3.2%. Phillips 66's dividend payout ratio (DPR) is currently 46.95%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.