Phillips 66 $PSX Stock: VestGen Advisors LLC Boosts Position

Key Points

• VestGen Advisors increased its Phillips 66 stake by 459.7% in the third quarter, bringing its holdings to 44,987 shares valued at approximately $11.5 million. Institutional investors collectively own 76.93% of PSX.
• Phillips 66 reported quarterly earnings of $14.08 per share, exceeding analysts’ $11.73 estimate, while revenue reached $50.54 billion. The company also authorized a $10 billion share buyback, equivalent to up to 11.8% of outstanding shares.
• The company raised its quarterly dividend to $1.33 per share, or $5.32 annually, producing a 1.9% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $269.88, while recent insider activity consisted of stock sales.

VestGen Advisors LLC boosted its stake in Phillips 66 (NYSE:PSX - Free Report) by 459.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,987 shares of the oil and gas company's stock after acquiring an additional 36,950 shares during the period. VestGen Advisors LLC's holdings in Phillips 66 were worth $11,486,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Phillips 66 in the second quarter valued at approximately $5,766,779,000. State Street Corp grew its holdings in Phillips 66 by 1.1% during 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 bought a new position in Phillips 66 during the second quarter valued at $1,093,206,000. Amundi grew its holdings in Phillips 66 by 62.0% during the first quarter. Amundi now owns 3,667,451 shares of the oil and gas company's stock valued at $668,137,000 after purchasing an additional 1,403,493 shares during the period. Finally, Bank of America Corp DE increased its position in Phillips 66 by 1.2% in the first 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 buying an additional 35,167 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Trading Up 1.9%

Shares of PSX stock opened at $273.51 on Thursday. The company's fifty day simple moving average is $264.69 and its two-hundred day simple moving average is $197.13. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.32 and a quick ratio of 1.00. Phillips 66 has a 1 year low of $127.16 and a 1 year high of $299.39. The stock has a market capitalization of $109.14 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 0.16 and a beta of 0.71.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The oil and gas company reported $14.08 EPS for the quarter, topping analysts' consensus estimates of $11.73 by $2.35. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%. The firm had revenue of $50.54 billion during the quarter, compared to analyst estimates of $44.91 billion. During the same period last year, the company earned $2.52 earnings per share. As a group, analysts anticipate that Phillips 66 will post 31.39 earnings per share for the current year.

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

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 17th will be issued a $1.33 dividend. This represents a $5.32 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, November 17th. This is a positive change from Phillips 66's previous quarterly dividend of $1.27. Phillips 66's payout ratio is 30.31%.

Insider Buying and Selling at Phillips 66

In related news, EVP Brian Mandell sold 23,400 shares of the business's stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $265.06, for a total transaction of $6,202,404.00. Following the completion of the transaction, the executive vice president directly owned 61,595 shares in the company, valued at $16,326,370.70. The trade was a 27.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Richard Harbison sold 52,100 shares of the business's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $223.76, for a total value of $11,657,896.00. Following the transaction, the executive vice president directly owned 39,094 shares of the company's stock, valued at $8,747,673.44. The trade was a 57.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 108,800 shares of company stock valued at $25,016,566 in the last three months. 0.40% of the stock is owned by corporate insiders.

Key Stories Impacting Phillips 66

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

• Positive Sentiment: Record profit and earnings beat: Phillips 66 reported approximately $5.6 billion in adjusted third-quarter earnings, or $14.08 per diluted share, versus consensus estimates near $11.7–$12.0 per share and $2.52 a year earlier. Revenue also exceeded expectations at $50.54 billion. Phillips 66 beats quarterly profit estimates as refining margins soar
• Positive Sentiment: Refining strength drove the result: Refining earnings nearly doubled sequentially to $6.03 billion, supported by wider margins, higher volumes and 98% utilization. Record Central Corridor processed-input volume and stronger fuel-export demand linked to Middle East tensions further supported profitability. Phillips 66 Q3 Earnings Beat Estimates on Strong Refining Margins
• Positive Sentiment: Cash generation and balance-sheet improvement: Operating cash flow totaled roughly $7.3 billion. The company returned $2.8 billion through dividends and share repurchases and reduced total debt by about $2 billion to $18.5 billion, strengthening the shareholder-return story. Phillips 66: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: Strong results may reflect peak-cycle conditions: The quarter benefited from unusually favorable refining margins, while midstream volumes also remained solid. Investors will likely focus on whether these conditions persist into the fourth quarter.
• Negative Sentiment: Margin and valuation risks remain: Gasoline prices and expectations for increased fuel supply had raised concerns that refining margins could cool. Analysts had also warned that much of the sector’s earnings recovery was already reflected in share prices, potentially limiting further upside after the rebound. Phillips 66 Slides as Traders Reassess Refining Upside Ahead of Earnings

Analyst Upgrades and Downgrades

PSX has been the topic of several research reports. Mizuho lowered Phillips 66 from an "outperform" rating to a "neutral" rating and boosted their target price for the company from $220.00 to $300.00 in a research note on Thursday, October 8th. Zacks Research raised Phillips 66 from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 7th. Wells Fargo & Company increased their price target on Phillips 66 from $335.00 to $345.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 14th. Jefferies Financial Group reissued a "hold" rating and issued a $276.00 price objective on shares of Phillips 66 in a report on Sunday, October 11th. Finally, UBS Group lifted their price objective on Phillips 66 from $235.00 to $300.00 and gave the stock a "buy" rating in a report on Tuesday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $269.88.

Phillips 66 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.

Want to see what other hedge funds are holding PSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 (NYSE:PSX - Free Report).

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.