Phillips 66 $PSX Shares Bought by Horizon Investments LLC

Key Points

• Horizon Investments LLC raised its stake in Phillips 66 by 478.4% in Q4 to 63,290 shares worth $8.17M, while institutional investors now own about 76.93% of the stock.
• Multiple brokers have upgraded PSX and raised targets (e.g., Raymond James to $215, Citi to $183), leaving a MarketBeat consensus of Moderate Buy with a $184.50 price target, indicating stronger analyst optimism.
• Phillips 66 beat Q1 EPS expectations (reported $0.49 vs. -$0.54 est.) but missed revenue, announced a quarterly dividend of $1.27 (2.9% yield), flagged Q2 turnaround costs of $120–$150M, and aims to cut net debt to ~$17B by end-2027 while insiders sold ~95,923 shares recently.

Horizon Investments LLC raised its holdings in Phillips 66 (NYSE:PSX - Free Report) by 478.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,290 shares of the oil and gas company's stock after buying an additional 52,348 shares during the period. Horizon Investments LLC's holdings in Phillips 66 were worth $8,167,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Oppenheimer & Co. Inc. lifted its stake in shares of Phillips 66 by 57.4% in the third quarter. Oppenheimer & Co. Inc. now owns 56,858 shares of the oil and gas company's stock worth $7,734,000 after acquiring an additional 20,742 shares in the last quarter. First National Bank of Omaha acquired a new position in shares of Phillips 66 in the third quarter worth about $2,357,000. TD Asset Management Inc lifted its stake in shares of Phillips 66 by 15.5% in the third quarter. TD Asset Management Inc now owns 174,413 shares of the oil and gas company's stock worth $23,724,000 after acquiring an additional 23,364 shares in the last quarter. Caprock Group LLC acquired a new stake in Phillips 66 during the third quarter valued at approximately $2,412,000. Finally, National Pension Service raised its stake in Phillips 66 by 3.5% during the third quarter. National Pension Service now owns 602,099 shares of the oil and gas company's stock valued at $81,898,000 after buying an additional 20,213 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on PSX. Wall Street Zen upgraded Phillips 66 from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Tudor Pickering upgraded Phillips 66 from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Citigroup upped their price objective on Phillips 66 from $159.00 to $183.00 and gave the company a "neutral" rating in a research note on Thursday, April 9th. Raymond James Financial upped their price objective on Phillips 66 from $205.00 to $215.00 in a research note on Thursday. Finally, Weiss Ratings cut Phillips 66 from a "buy (b-)" rating to a "hold (c)" rating in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, Phillips 66 has a consensus rating of "Moderate Buy" and a consensus price target of $184.50.

Key Phillips 66 News

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

• Positive Sentiment: Q1 results beat EPS expectations and management emphasized operational strength despite mark-to-market losses, supporting dividend/cash-return credibility. Phillips 66 Q1 2026 Earnings Call Highlights
• Positive Sentiment: Multiple broker upgrades and higher price targets (Raymond James, JPMorgan; Tudor Pickering upgrade to strong-buy) lift sentiment and imply material upside vs. the current price. Raymond James price target raise JPMorgan price target raise Tudor Pickering upgrade report
• Positive Sentiment: Upward pressure on prices/margins from higher crude and pump prices — Brent spiked on geopolitical reports and U.S. gasoline hit a multi-year high, both supporting refining economics. Brent crude spike report Gasoline hits 4-year high
• Positive Sentiment: Industry peers (e.g., Valero) reported huge refining-margin-driven profits, reinforcing that sector tailwinds can benefit Phillips 66’s refining segment. Valero earnings & margin surge
• Neutral Sentiment: Phillips 66 is running its nine refineries in the low- to mid-90% of capacity — steady utilization but not a clear near-term catalyst by itself. Reuters on refinery run rates
• Neutral Sentiment: Zacks added PSX to its Rank #1 (Strong Buy) growth list and several valuation notes highlight strong YTD returns and an “undervalued” narrative — supportive but already priced into the rally. Zacks Rank #1 mention Valuation assessment
• Positive Sentiment: Management set a goal to reduce net debt to ~$17B by year-end 2027, which supports long-term credit/returns if executed. Seeking Alpha: debt target & Q2 expense
• Negative Sentiment: Company flagged Q2 turnaround costs of roughly $120M–$150M and reported revenue below consensus for Q1, which tempers near-term EPS momentum. Seeking Alpha: Q2 turnaround expense

Insider Activity at Phillips 66

In other news, EVP Don Baldridge sold 7,500 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 38,488 shares of the company's stock, valued at approximately $6,158,080. This 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 the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the company's stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total value of $659,100.00. Following the transaction, the executive vice president directly owned 25,799 shares of the company's stock, valued at $3,869,850. This trade represents a 14.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 95,923 shares of company stock valued at $16,399,619. 0.40% of the stock is owned by insiders.

Phillips 66 Trading Down 1.5%

Shares of NYSE PSX opened at $176.45 on Friday. The stock has a market capitalization of $70.71 billion, a P/E ratio of 17.38, a PEG ratio of 0.30 and a beta of 0.70. The stock's 50 day moving average price is $167.69 and its two-hundred day moving average price is $149.13. Phillips 66 has a 52-week low of $103.38 and a 52-week high of $190.61. The company has a quick ratio of 0.91, a current ratio of 1.13 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating the consensus estimate of ($0.54) by $1.03. The company had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business's revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.90) earnings per share. On average, analysts anticipate that Phillips 66 will post 16.76 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be issued a dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.9%. Phillips 66's dividend payout ratio is 50.05%.

Phillips 66 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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