Victory Capital Management Inc. Sells 14,674 Shares of Phillips 66 $PSX

Key Points

• Victory Capital trimmed its stake in Phillips 66 by 1.9% in Q3, selling 14,674 shares and leaving it with 770,824 shares worth about $104.85 million (≈0.19% of the company).
• Insiders sold a total of 16,288 shares (~$2.50 million) in the past three months, including EVP Don Baldridge (7,500 shares at $160) and EVP Vanessa Allen Sutherland (4,394 shares at $150), reducing their holdings.
• Phillips 66 raised its quarterly dividend to $1.27 (annualized $5.08, yield 3.1%) and recently beat EPS estimates ($2.47 vs. $2.15), with the stock trading near its 12‑month high (~$165).

Victory Capital Management Inc. decreased its position in Phillips 66 (NYSE:PSX - Free Report) by 1.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 770,824 shares of the oil and gas company's stock after selling 14,674 shares during the quarter. Victory Capital Management Inc. owned 0.19% of Phillips 66 worth $104,847,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Mesirow Financial Investment Management Inc. raised its stake in shares of Phillips 66 by 0.5% in the third quarter. Mesirow Financial Investment Management Inc. now owns 15,658 shares of the oil and gas company's stock valued at $2,130,000 after acquiring an additional 73 shares during the last quarter. Heck Capital Advisors LLC raised its position in Phillips 66 by 1.2% in the 3rd quarter. Heck Capital Advisors LLC now owns 6,124 shares of the oil and gas company's stock valued at $833,000 after purchasing an additional 75 shares during the last quarter. Portside Wealth Group LLC boosted its stake in Phillips 66 by 3.8% in the third quarter. Portside Wealth Group LLC now owns 2,033 shares of the oil and gas company's stock worth $277,000 after purchasing an additional 75 shares in the last quarter. Cobblestone Capital Advisors LLC NY grew its holdings in shares of Phillips 66 by 0.4% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 16,926 shares of the oil and gas company's stock worth $2,302,000 after purchasing an additional 75 shares during the last quarter. Finally, Welch & Forbes LLC increased its stake in shares of Phillips 66 by 1.1% in the third quarter. Welch & Forbes LLC now owns 7,123 shares of the oil and gas company's stock valued at $969,000 after buying an additional 76 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Insider Activity at Phillips 66

In related news, EVP Don Baldridge sold 7,500 shares of the business's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the executive vice president owned 38,488 shares in the company, valued at approximately $6,158,080. The trade was a 16.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the company's stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total transaction of $659,100.00. Following the completion of the sale, the executive vice president directly owned 25,799 shares of the company's stock, valued at $3,869,850. The trade was a 14.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,288 shares of company stock worth $2,496,230 in the last three months. 0.22% of the stock is owned by insiders.

Phillips 66 Stock Up 3.2%

NYSE:PSX opened at $164.92 on Thursday. The company has a quick ratio of 0.91, a current ratio of 1.30 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $165.08. The stock's fifty day simple moving average is $146.01 and its 200-day simple moving average is $138.08. The firm has a market capitalization of $66.09 billion, a P/E ratio of 15.24, a P/E/G ratio of 0.56 and a beta of 0.86.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.32. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.The firm had revenue of $32.16 billion for the quarter, compared to analyst estimates of $33.81 billion. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. Equities research analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were given a $1.27 dividend. The ex-dividend date was Monday, February 23rd. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.1%. This is a positive change from Phillips 66's previous quarterly dividend of $1.20. Phillips 66's dividend payout ratio is 46.95%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. TD Cowen restated a "buy" rating on shares of Phillips 66 in a research report on Friday, February 6th. UBS Group restated a "buy" rating and issued a $172.00 price objective on shares of Phillips 66 in a research report on Friday, February 6th. Mizuho increased their price objective on Phillips 66 from $150.00 to $152.00 and gave the company a "neutral" rating in a research report on Monday, January 12th. Scotiabank reissued a "sector perform" rating and issued a $140.00 target price on shares of Phillips 66 in a research note on Friday, January 16th. Finally, Piper Sandler upped their price target on Phillips 66 from $153.00 to $156.00 and gave the company a "neutral" rating in a research note on Thursday, February 5th. Eleven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $160.11.

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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