Neo Ivy Capital Management Sells 9,220 Shares of Phillips 66 $PSX

Key Points

• Neo Ivy Capital Management cut its position in Phillips 66 by 41.0%, selling 9,220 shares and leaving the fund with 13,274 shares valued at about $1.806 million at quarter-end.
• Analyst coverage is mixed — with 11 Buys and 12 Holds — giving an average rating of "Hold" and an average price target of $160.11, while individual targets range roughly from $151 to $170.
• Phillips 66 raised its quarterly dividend to $1.27 (annualized $5.08, yield ~3.1%) and recently reported a quarterly EPS beat of $2.47 versus $2.15 expected.

Neo Ivy Capital Management lessened its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 41.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,274 shares of the oil and gas company's stock after selling 9,220 shares during the period. Neo Ivy Capital Management's holdings in Phillips 66 were worth $1,806,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mesirow Financial Investment Management Inc. grew its holdings in Phillips 66 by 0.5% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 15,658 shares of the oil and gas company's stock worth $2,130,000 after acquiring an additional 73 shares during the period. KCM Investment Advisors LLC raised its position in shares of Phillips 66 by 1.6% in the 3rd quarter. KCM Investment Advisors LLC now owns 4,636 shares of the oil and gas company's stock worth $631,000 after acquiring an additional 74 shares in the last quarter. Heck Capital Advisors LLC lifted its stake in shares of Phillips 66 by 1.2% in the 3rd quarter. Heck Capital Advisors LLC now owns 6,124 shares of the oil and gas company's stock valued at $833,000 after purchasing an additional 75 shares during the period. Portside Wealth Group LLC lifted its stake in shares of Phillips 66 by 3.8% in the 3rd quarter. Portside Wealth Group LLC now owns 2,033 shares of the oil and gas company's stock valued at $277,000 after purchasing an additional 75 shares during the period. Finally, Cobblestone Capital Advisors LLC NY boosted its position in shares of Phillips 66 by 0.4% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 16,926 shares of the oil and gas company's stock valued at $2,302,000 after purchasing an additional 75 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company's stock.

Analysts Set New Price Targets

PSX has been the subject of several recent analyst reports. Zacks Research cut Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 16th. Barclays set a $158.00 price target on Phillips 66 in a report on Friday, February 20th. Citigroup raised their price objective on shares of Phillips 66 from $146.00 to $159.00 and gave the stock a "neutral" rating in a research report on Monday, February 9th. JPMorgan Chase & Co. lowered their price objective on shares of Phillips 66 from $154.00 to $151.00 and set an "overweight" rating for the company in a research note on Tuesday, January 13th. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $170.00 target price on shares of Phillips 66 in a research report on Friday, February 6th. Eleven research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $160.11.

Phillips 66 Stock Down 0.3%

PSX stock opened at $165.94 on Friday. The stock's 50 day simple moving average is $147.54 and its 200 day simple moving average is $138.57. The company has a market cap of $66.50 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 0.58 and a beta of 0.86. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.91 and a current ratio of 1.30. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $169.62.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.32. The firm 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 quarter last year, the firm posted ($0.15) earnings per share. On average, research analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were given a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Monday, February 23rd. This is an increase from Phillips 66's previous quarterly dividend of $1.20. Phillips 66's payout ratio is 46.95%.

Insider Buying and Selling at Phillips 66

In other news, EVP Don Baldridge sold 7,500 shares of Phillips 66 stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the executive vice president directly owned 38,488 shares in the company, valued at $6,158,080. This trade represents a 16.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the business's stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total transaction of $659,100.00. Following the sale, the executive vice president directly owned 25,799 shares of the company's stock, valued at approximately $3,869,850. The trade was a 14.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 38,088 shares of company stock worth $6,147,655. 0.22% of the stock is owned by corporate insiders.

Phillips 66 News Summary

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

• Positive Sentiment: Analysts have bumped up coverage and highlighted a higher quarterly dividend and improved valuation momentum, which helped lift investor interest in the stock. A Look At Phillips 66 (PSX) Valuation After Analyst Upgrades Dividend Hike And Venezuela Crude Moves
• Positive Sentiment: Rising global crude benchmarks and refinery-friendly price moves have benefited refiners broadly, supporting Phillips 66’s margin outlook and dividend coverage in the near term. Refining-focused coverage highlights the sector’s resilience to oil swings. Bad News for Drivers Is Good News for Oil Refiners
• Neutral Sentiment: The stock has gained since the last earnings report and recent commentary explains that momentum (earnings beat and trajectory) but notes ongoing volatility; this context helps explain recent investor rotation rather than a clear directional signal. Why Is Phillips 66 (PSX) Up 7.8% Since Last Earnings Report?
• Neutral Sentiment: Management is exploring higher use of heavy Venezuelan crude to secure feedstock; this could lower input costs but creates margin trade-offs (blending, logistics, and quality). The move is a strategic plus if executed, but it introduces execution and geopolitical risk. Phillips 66 Weighs Venezuelan Crude Sourcing Shift And Margin Trade Offs
• Negative Sentiment: Insider selling: CFO Kevin J. Mitchell disclosed two recent Form 4 sales (4,944 shares on Mar 4 at ~$165.03 and 16,856 shares on Mar 5 at ~$168.22, roughly $3.65M combined). Large insider sales can pressure sentiment short-term even if they reflect personal liquidity. SEC Form 4 — Kevin J. Mitchell

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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