Phillips 66 $PSX Stock Sold by D.A. Davidson & CO.

Key Points

• D.A. Davidson & CO. reduced its Phillips 66 stake by 17.8% in the third quarter, selling 17,142 shares and retaining 79,109 shares valued at approximately $20.2 million. Institutional investors collectively own 76.93% of PSX.
• Phillips 66 reported quarterly EPS of $14.08, surpassing the $11.73 consensus estimate, while revenue reached $50.54 billion. The company also authorized a $10 billion share-repurchase program.
• The company raised its quarterly dividend from $1.27 to $1.33 per share, equal to an annualized $5.32 dividend and a 1.9% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $270.19.

D.A. Davidson & CO. lessened its stake in Phillips 66 (NYSE:PSX - Free Report) by 17.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 79,109 shares of the oil and gas company's stock after selling 17,142 shares during the period. D.A. Davidson & CO.'s holdings in Phillips 66 were worth $20,198,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Phillips 66 during the 2nd quarter worth approximately $5,766,779,000. State Street Corp boosted its holdings in Phillips 66 by 1.1% in the second quarter. State Street Corp now owns 26,044,694 shares of the oil and gas company's stock valued at $4,402,856,000 after purchasing an additional 271,841 shares during the period. Bank of New York Mellon Corp purchased a new position in Phillips 66 in the second quarter valued at $1,093,206,000. Amundi grew its stake in Phillips 66 by 62.0% during the 1st quarter. Amundi now owns 3,667,451 shares of the oil and gas company's stock worth $668,137,000 after purchasing an additional 1,403,493 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Phillips 66 by 1.2% during the 1st quarter. Bank of America Corp DE now owns 2,971,036 shares of the oil and gas company's stock worth $541,263,000 after purchasing an additional 35,167 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Down 0.1%

PSX stock opened at $273.48 on Friday. The stock has a market cap of $109.12 billion, a P/E ratio of 8.73, a PEG ratio of 0.16 and a beta of 0.71. 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 has a twelve month low of $127.16 and a twelve month high of $299.39. The company's 50 day moving average is $265.31 and its two-hundred day moving average is $197.79.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Wednesday, October 28th. The oil and gas company reported $14.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.73 by $2.35. The business had revenue of $50.54 billion during the quarter, compared to analysts' expectations of $44.91 billion. Phillips 66 had a net margin of 7.27% and a return on equity of 34.36%. During the same quarter in the prior year, the business posted $2.52 EPS. Research analysts expect that Phillips 66 will post 31.39 earnings per share for the current fiscal year.

Phillips 66 declared that its board has approved a stock repurchase program on Friday, July 31st that permits the company to buy back $10 billion in outstanding shares. This buyback authorization permits the oil and gas company to reacquire up to 11.8% of its shares through open market purchases. Share buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 17th will be given a $1.33 dividend. This represents a $5.32 dividend on an annualized basis and a yield of 1.9%. This is a boost from Phillips 66's previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Tuesday, November 17th. Phillips 66's dividend payout ratio is presently 28.95%.

Insider Buying and Selling at Phillips 66

In other news, EVP Richard G. Harbison sold 52,100 shares of Phillips 66 stock in a transaction dated 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 sale, the executive vice president owned 39,094 shares in the company, valued at approximately $8,747,673.44. The trade was a 57.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brian Mandell sold 30,000 shares of the business's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $215.00, for a total value of $6,450,000.00. Following the completion of the sale, the executive vice president directly owned 61,595 shares of the company's stock, valued at $13,242,925. The trade was a 32.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 108,800 shares of company stock valued at $25,016,566 in the last 90 days. 0.40% of the stock is currently owned by insiders.

Trending Headlines about Phillips 66

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

• Positive Sentiment: Record earnings and a major estimate beat: Adjusted EPS surged 458% year over year to $14.08, well above consensus estimates near $11.73–$11.97. Revenue reached approximately $51.5 billion, while net income totaled $5.6 billion. Results benefited from 98% refinery utilization, record distillate yields and sharply higher refining margins. Phillips 66 beats quarterly profit estimates as refining margins soar
• Positive Sentiment: Capital returns and balance-sheet improvement support the investment case: Phillips 66 raised its quarterly dividend to $1.33 per share, returned $2.8 billion through dividends and repurchases, and reduced total debt by roughly $2 billion to $18.5 billion. Management also highlighted strong midstream volumes and long-term pipeline investments, including the Western Gateway system. Learn Why The Bull Case For Phillips 66 Stock Could Change Following Earnings Beat
• Neutral Sentiment: Valuation remains a key debate: After a roughly 316% five-year advance and substantial recent gains, some investors view PSX as potentially undervalued relative to its earnings power, while others question whether the current share price already reflects peak profitability. Piper Sandler raised its price target to $268 but maintained a neutral rating, implying limited upside based on its model.
• Negative Sentiment: Cyclical and sentiment risks are limiting enthusiasm: The quarter’s exceptional performance was driven heavily by refining margins linked to supply disruptions and geopolitical tensions, which may not persist. Refining stocks have recently sold off despite strong earnings, and rising short interest suggests traders are positioning for weaker margins ahead. Continued insider selling and recent volatility add further caution. Phillips 66 Posts Strong Earnings But the Stock Doesn't Care

Analyst Ratings Changes

A number of analysts recently weighed in on PSX shares. Wall Street Zen upgraded shares of Phillips 66 from a "buy" rating to a "strong-buy" rating in a research note on Sunday, July 26th. BMO Capital Markets lifted their price target on shares of Phillips 66 from $260.00 to $310.00 and gave the stock an "outperform" rating in a research note on Thursday, September 17th. UBS Group boosted their price target on shares of Phillips 66 from $235.00 to $300.00 and gave the stock a "buy" rating in a report on Tuesday, September 8th. The Goldman Sachs Group boosted their price target on shares of Phillips 66 from $245.00 to $274.00 and gave the stock a "neutral" rating in a report on Wednesday, September 30th. Finally, Zacks Research raised shares of Phillips 66 from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 7th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $270.19.

Phillips 66 Company Profile

Phillips 66 NYSE: PSX is an energy manufacturing and logistics company headquartered in Houston, Texas. The company was established in 2012 following the separation of ConocoPhillips' downstream and midstream businesses.

Phillips 66 operates across midstream, chemicals, refining and marketing. Its midstream activities include gathering, processing, transporting and storing crude oil, natural gas and natural gas liquids. Through its refining operations, the company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, lubricants and other refined petroleum products.

The company markets fuel and related products under the Phillips 66, 76 and Conoco brands, serving retail, commercial, aviation and industrial customers.

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.