Phillips 66 $PSX Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group reduced its Phillips 66 stake by 1.0% in the second quarter, selling 8,422 shares and retaining 853,719 shares worth approximately $144.3 million. Institutional investors collectively own 76.93% of PSX.
• Phillips 66 reported quarterly EPS of $9.41, beating estimates of $7.50, on revenue of $52.04 billion. The company also authorized a $10 billion share-repurchase program and declared a quarterly dividend of $1.27 per share.
• PSX shares opened at $233.29, near their 52-week high of $236.14, while insiders sold more than 100,000 shares worth $21.8 million during the last quarter. Analysts maintain a “Moderate Buy” consensus, with an average price target of $206.56.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 1.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 853,719 shares of the oil and gas company's stock after selling 8,422 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.21% of Phillips 66 worth $144,321,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its stake in Phillips 66 by 238.5% during the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock worth $1,166,000 after buying an additional 7,214 shares during the period. Woodline Partners LP lifted its holdings in Phillips 66 by 40.7% during the 1st quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company's stock worth $4,308,000 after buying an additional 10,089 shares in the last quarter. Sei Investments Co. boosted its position in Phillips 66 by 28.3% in the 2nd quarter. Sei Investments Co. now owns 157,455 shares of the oil and gas company's stock valued at $18,788,000 after buying an additional 34,698 shares during the period. The Manufacturers Life Insurance Company boosted its position in Phillips 66 by 9.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 346,679 shares of the oil and gas company's stock valued at $41,359,000 after buying an additional 28,988 shares during the period. Finally, Glenview Trust co grew its stake in shares of Phillips 66 by 2.6% in the second quarter. Glenview Trust co now owns 8,949 shares of the oil and gas company's stock worth $1,068,000 after acquiring an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Trending Headlines about Phillips 66

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

• Positive Sentiment: Takeover talks highlight strategic value. Phillips 66 and Marathon Petroleum reportedly discussed a potential combination valued at roughly $180 billion. Although the talks did not result in a deal, the discussions underscore PSX’s scale and could renew speculation about consolidation among U.S. refiners. Phillips 66 and Marathon Petroleum held takeover talks
• Positive Sentiment: Refining margins and shareholder returns remain supportive. Supply disruptions linked to the Iran conflict have lifted fuel margins, helping major refiners generate strong profits and increase buybacks and dividends. Phillips 66 has authorized a $10 billion repurchase program and pays a quarterly dividend of $1.27 per share. U.S. refiners ramp up buybacks as Iran war boosts fuel margins
• Positive Sentiment: Infrastructure expansion adds a longer-term growth angle. PSX, Kinder Morgan and HF Sinclair are advancing the approximately $5 billion Western Gateway refined-products pipeline, which is expected to improve market access and logistics flexibility. Phillips 66 and partners advance Western Gateway pipeline project
• Neutral Sentiment: Merger failure limits the immediate upside from consolidation. Antitrust concerns and operational complexity reportedly derailed the proposed Marathon Petroleum transaction. The outcome removes a near-term transformational catalyst, while the broader energy-sector rally and PSX’s premium valuation leave the stock more exposed to a reversal in refining margins. Reported Phillips 66 and Marathon Petroleum merger analysis
• Negative Sentiment: Heavy insider selling may weigh on sentiment. EVP Richard Harbison sold 52,100 shares for approximately $11.7 million, while EVP Brian Mandell sold 33,300 shares for about $7.2 million. The trades may be profit-taking after PSX’s strong rally, but they reduce insiders’ holdings and could raise short-term concerns about valuation. Richard Harbison sells Phillips 66 shares

Insiders Place Their Bets

In other news, EVP Brian Mandell sold 30,000 shares of the company's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $215.00, for a total transaction of $6,450,000.00. Following the completion of the transaction, the executive vice president directly owned 61,595 shares of the company's stock, valued at approximately $13,242,925. This represents a 32.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Vanessa Allen Sutherland sold 3,523 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 27,537 shares in the company, valued at approximately $5,811,683.85. The trade was a 11.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 100,507 shares of company stock valued at $21,770,810 over the last quarter. Corporate insiders own 0.40% of the company's stock.

Phillips 66 Price Performance

Shares of PSX opened at $233.29 on Friday. Phillips 66 has a twelve month low of $121.24 and a twelve month high of $236.14. The firm's fifty day simple moving average is $192.72 and its 200-day simple moving average is $175.95. The firm has a market capitalization of $93.09 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 0.17 and a beta of 0.68. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.50 by $1.91. The business had revenue of $52.04 billion during the quarter, compared to analysts' expectations of $43.60 billion. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. During the same period in the previous year, the company earned $2.38 EPS. Equities analysts forecast that Phillips 66 will post 24.44 EPS for the current fiscal year.

Phillips 66 announced that its Board of Directors has authorized a stock repurchase program on Friday, July 31st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the oil and gas company to buy up to 11.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are 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 issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66's payout ratio is 28.95%.

Analyst Ratings Changes

A number of research firms have recently weighed in on PSX. Argus upped their price objective on Phillips 66 from $185.00 to $197.00 and gave the stock a "buy" rating in a research report on Thursday, May 14th. Tudor Pickering upgraded Phillips 66 from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. UBS Group boosted their target price on Phillips 66 from $212.00 to $235.00 and gave the stock a "buy" rating in a research note on Monday, July 27th. The Goldman Sachs Group upped their price target on Phillips 66 from $207.00 to $235.00 and gave the stock a "neutral" rating in a report on Wednesday, July 22nd. Finally, Scotiabank lifted their price objective on Phillips 66 from $140.00 to $151.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $206.56.

About Phillips 66

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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