Pictet Asset Management Holding SA Has $27.65 Million Stake in Phillips 66 $PSX

Pictet Asset Management Holding SA lifted its stake in Phillips 66 (NYSE:PSX - Free Report) by 5.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 214,279 shares of the oil and gas company's stock after acquiring an additional 11,181 shares during the period. Pictet Asset Management Holding SA owned 0.05% of Phillips 66 worth $27,649,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PSX. Vanguard Group Inc. raised its position in shares of Phillips 66 by 11.6% in the third quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company's stock valued at $7,035,574,000 after purchasing an additional 5,356,558 shares during the period. M&T Bank Corp boosted its holdings in shares of Phillips 66 by 462.9% during the 4th quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company's stock worth $352,007,000 after buying an additional 2,243,268 shares during the period. AQR Capital Management LLC grew its stake in Phillips 66 by 424.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company's stock valued at $257,512,000 after buying an additional 1,532,389 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new position in Phillips 66 in the 2nd quarter worth $107,967,000. Finally, Holocene Advisors LP raised its holdings in Phillips 66 by 2,433.1% in the 2nd quarter. Holocene Advisors LP now owns 711,599 shares of the oil and gas company's stock worth $84,894,000 after acquiring an additional 683,507 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Phillips 66

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

• Positive Sentiment: Q1 surprise profit and earnings upside driven by stronger realized refining margins and higher throughput — market is rewarding the operating improvement. Phillips 66 Beats Q1 Estimates
• Positive Sentiment: Refinery utilization and capacity expansion support near-term earnings: company said it’s running refineries in the low‑to‑mid‑90% range and highlighted midstream/export expansions that improve placement optionality and margins. Phillips 66 running refineries in low- mid-90 range
• Positive Sentiment: Industry tailwinds: U.S. gasoline prices have jumped to multi‑year highs and peer refiners (e.g., Valero) are reporting big crack‑spread gains — a favorable backdrop for Phillips 66’s refining margins. Gasoline Hits 4-Year High
• Neutral Sentiment: Corporate finance update: management reiterated a target to reduce debt to ~$17B by year‑end 2027 — a positive long‑term signal but one that may involve near‑term cash allocation decisions. Phillips 66 targets $17B debt by year-end 2027
• Negative Sentiment: Significant mark‑to‑market derivative losses materially depressed GAAP EPS (management noted large pre‑tax losses tied to a net short hedging position), creating earnings volatility and a gap between operating performance and reported results. Phillips 66 Q1 2026 Earnings Call Highlights

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PSX shares. Argus upped their price target on shares of Phillips 66 from $152.00 to $185.00 and gave the company a "buy" rating in a report on Tuesday, February 10th. Piper Sandler lifted their price objective on Phillips 66 from $168.00 to $177.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 8th. Citigroup boosted their price objective on Phillips 66 from $159.00 to $183.00 and gave the stock a "neutral" rating in a research report on Thursday, April 9th. The Goldman Sachs Group raised their target price on Phillips 66 from $186.00 to $192.00 and gave the company a "neutral" rating in a report on Friday, April 10th. Finally, Scotiabank lifted their price target on Phillips 66 from $140.00 to $151.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $183.17.

Insider Buying and Selling

In related news, EVP Don Baldridge sold 7,500 shares of the company's stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total value of $1,200,000.00. Following the completion of the transaction, the executive vice president directly owned 38,488 shares in the company, valued at approximately $6,158,080. This represents a 16.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lisa Ann Davis sold 3,800 shares of the firm's stock in a transaction on Friday, March 13th. The stock was sold at an average price of $174.37, for a total value of $662,606.00. Following the completion of the transaction, the director directly owned 8,701 shares of the company's stock, valued at approximately $1,517,193.37. This trade represents a 30.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 95,923 shares of company stock worth $16,399,619. 0.40% of the stock is currently owned by corporate insiders.

Phillips 66 Stock Performance

NYSE PSX opened at $179.32 on Friday. The company's fifty day moving average is $167.69 and its two-hundred day moving average is $149.00. Phillips 66 has a 52-week low of $103.35 and a 52-week high of $190.61. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.30 and a quick ratio of 0.91. The firm has a market capitalization of $71.86 billion, a price-to-earnings ratio of 17.67, a P/E/G ratio of 0.29 and a beta of 0.76.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 11.04%. The business had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. During the same quarter in the prior year, the business earned ($0.90) earnings per share. The firm's revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts forecast that Phillips 66 will post 15.47 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be issued a $1.27 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $5.08 annualized dividend and a yield of 2.8%. Phillips 66's dividend payout ratio is 50.05%.

Phillips 66 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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