Phillips 66 $PSX Shares Sold by Oppenheimer & Co. Inc.

Key Points

• Oppenheimer & Co. Inc. cut its stake in Phillips 66 by 22.5% in Q4, selling 12,777 shares and leaving it with 44,081 shares valued at about $5.69 million.
• Q1 results topped EPS expectations ($0.49 vs. consensus -$0.54) but missed on revenue ($32.54B vs. $35.86B), and the company announced a quarterly dividend of $1.27 ($5.08 annualized, 2.9% yield; ex-dividend May 18, pay June 1).
• Significant insider selling occurred (EVP sold 42,800 shares; CFO sold 15,629; insiders sold ~95,923 shares worth $16.4M in the quarter), while analysts have mostly raised targets and the consensus rating is a Moderate Buy with an average price target of $184.50.

Oppenheimer & Co. Inc. lowered its stake in Phillips 66 (NYSE:PSX - Free Report) by 22.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,081 shares of the oil and gas company's stock after selling 12,777 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Phillips 66 were worth $5,688,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Board of the Pension Protection Fund acquired a new stake in shares of Phillips 66 in the fourth quarter valued at about $26,000. Accordant Advisory Group Inc grew its stake in shares of Phillips 66 by 900.0% in the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company's stock valued at $26,000 after buying an additional 180 shares in the last quarter. Eagle Bay Advisors LLC acquired a new stake in shares of Phillips 66 in the fourth quarter valued at about $27,000. Stephens Consulting LLC grew its stake in shares of Phillips 66 by 67.7% in the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company's stock valued at $29,000 after buying an additional 90 shares in the last quarter. Finally, Dorato Capital Management acquired a new stake in shares of Phillips 66 in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $176.45 on Friday. Phillips 66 has a fifty-two week low of $103.38 and a fifty-two week high of $190.61. The business has a 50 day moving average price of $167.69 and a two-hundred day moving average price of $149.13. The company has a quick ratio of 0.91, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The firm has a market cap of $70.71 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 0.30 and a beta of 0.70.

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

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, May 18th. Phillips 66's dividend payout ratio (DPR) is 50.05%.

Phillips 66 News Roundup

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

In other Phillips 66 news, EVP Brian Mandell sold 42,800 shares of the firm's stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $169.53, for a total transaction of $7,255,884.00. Following the completion of the sale, the executive vice president owned 61,595 shares in the company, valued at $10,442,200.35. This trade represents a 41.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin J. Mitchell sold 15,629 shares of the firm's stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $190.07, for a total value of $2,970,604.03. Following the sale, the chief financial officer owned 97,376 shares of the company's stock, valued at approximately $18,508,256.32. This trade represents a 13.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 95,923 shares of company stock worth $16,399,619 over the last quarter. Corporate insiders own 0.40% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PSX. Morgan Stanley reiterated an "overweight" rating and issued a $180.00 target price on shares of Phillips 66 in a research note on Thursday. Wells Fargo & Company increased their target price on Phillips 66 from $163.00 to $201.00 and gave the company an "overweight" rating in a research note on Tuesday, March 31st. 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 note on Friday, April 10th. Weiss Ratings lowered Phillips 66 from a "buy (b-)" rating to a "hold (c)" rating in a research note on Friday. Finally, Piper Sandler increased their target price on Phillips 66 from $168.00 to $177.00 and gave the company a "neutral" rating in a research note on Wednesday, April 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, Phillips 66 presently has an average rating of "Moderate Buy" and an average price target of $184.50.

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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