Phillips 66 $PSX Stake Boosted by Aberdeen Group plc

Key Points

• Aberdeen Group increased its Phillips 66 stake by 4.6% in the second quarter, bringing its holdings to 141,926 shares valued at approximately $24 million. Other institutional investors also raised their positions, and institutions collectively own 76.93% of PSX.
• Phillips 66 reported strong quarterly results, earning $9.41 per share versus the $7.50 consensus estimate and generating $52.04 billion in revenue. The stock opened at $233.29, near its 52-week high of $236.14.
• Shareholder returns remain a focus: the company authorized a $10 billion share-repurchase program and declared a quarterly dividend of $1.27 per share. However, insiders sold more than 100,000 shares worth about $21.8 million during the quarter.

Aberdeen Group plc lifted its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 4.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 141,926 shares of the oil and gas company's stock after purchasing an additional 6,198 shares during the quarter. Aberdeen Group plc's holdings in Phillips 66 were worth $23,993,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in PSX. New Republic Capital LLC boosted its holdings in shares of Phillips 66 by 13.4% during the second quarter. New Republic Capital LLC now owns 1,349 shares of the oil and gas company's stock valued at $228,000 after acquiring an additional 159 shares during the period. Napier Financial LLC grew its position in Phillips 66 by 14.4% in the 2nd quarter. Napier Financial LLC now owns 972 shares of the oil and gas company's stock worth $164,000 after purchasing an additional 122 shares during the last quarter. Avail Investment Partners LLC increased its stake in shares of Phillips 66 by 41.9% in the second quarter. Avail Investment Partners LLC now owns 3,009 shares of the oil and gas company's stock valued at $509,000 after purchasing an additional 889 shares during the period. Calamos Wealth Management LLC increased its stake in shares of Phillips 66 by 2.0% in the second quarter. Calamos Wealth Management LLC now owns 3,084 shares of the oil and gas company's stock valued at $521,000 after purchasing an additional 60 shares during the period. Finally, Aviance Capital Partners LLC raised its holdings in shares of Phillips 66 by 11.7% during the second quarter. Aviance Capital Partners LLC now owns 7,374 shares of the oil and gas company's stock valued at $1,247,000 after buying an additional 770 shares during the last quarter. Institutional investors own 76.93% of the company's stock.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 11,021 shares of the company's stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $190.03, for a total value of $2,094,320.63. Following the transaction, the chief financial officer owned 97,376 shares in the company, valued at $18,504,361.28. This represents a 10.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Richard G. Harbison sold 52,100 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $223.76, for a total transaction of $11,657,896.00. Following the completion of the sale, the executive vice president directly owned 39,094 shares of the company's stock, valued at $8,747,673.44. This trade represents a 57.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 100,507 shares of company stock valued at $21,770,810. 0.40% of the stock is owned by insiders.

Phillips 66 Trading Up 0.3%

Phillips 66 stock opened at $233.29 on Friday. Phillips 66 has a 52 week low of $121.24 and a 52 week high of $236.14. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.32. The firm has a market capitalization of $93.09 billion, a price-to-earnings ratio of 13.29, a P/E/G ratio of 0.17 and a beta of 0.68. The company has a 50 day moving average price of $192.72 and a 200 day moving average price of $175.95.

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

Phillips 66 announced that its board has initiated a share repurchase program on Friday, July 31st that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the oil and gas company to buy up to 11.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66's dividend payout ratio is currently 28.95%.

Analyst Ratings Changes

PSX has been the topic of several recent analyst reports. Wall Street Zen raised Phillips 66 from a "buy" rating to a "strong-buy" rating in a research note on Sunday, July 26th. Morgan Stanley increased their price target on Phillips 66 from $180.00 to $196.00 and gave the stock an "overweight" rating in a research note on Friday, June 12th. Barclays raised their price target on Phillips 66 from $183.00 to $216.00 and gave the company an "equal weight" rating in a report on Thursday, August 6th. TD Cowen upped their price objective on shares of Phillips 66 from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Finally, Piper Sandler upped their price objective on shares of Phillips 66 from $208.00 to $209.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $206.56.

More Phillips 66 News

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

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source