Legato Capital Management LLC Buys New Position in Phillips 66 $PSX

Posted by Geri Gentry on May 24th, 2026

Legato Capital Management LLC bought a new stake in Phillips 66 (NYSE:PSX – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,940 shares of the oil and gas company’s stock, valued at approximately $1,670,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Phillips 66 by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company’s stock valued at $6,701,052,000 after buying an additional 205,480 shares during the period. M&T Bank Corp grew its holdings in Phillips 66 by 462.9% in the 4th quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock valued at $352,007,000 after buying an additional 2,243,268 shares during the period. Amundi grew its holdings in Phillips 66 by 2.8% in the 3rd quarter. Amundi now owns 2,400,180 shares of the oil and gas company’s stock valued at $319,123,000 after buying an additional 65,568 shares during the period. Legal & General Group Plc grew its holdings in Phillips 66 by 1.5% in the 3rd quarter. Legal & General Group Plc now owns 2,276,036 shares of the oil and gas company’s stock valued at $309,586,000 after buying an additional 33,397 shares during the period. Finally, AQR Capital Management LLC grew its holdings 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 period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of research reports. Zacks Research upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Raymond James Financial boosted their target price on Phillips 66 from $205.00 to $215.00 in a report on Thursday, April 30th. UBS Group boosted their target price on Phillips 66 from $172.00 to $212.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. JPMorgan Chase & Co. boosted their target price on Phillips 66 from $188.00 to $202.00 in a report on Thursday, April 30th. Finally, Scotiabank upped their price target on Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.11.

Check Out Our Latest Report on Phillips 66

Phillips 66 Stock Up 2.3%

NYSE PSX opened at $178.03 on Friday. The stock has a market cap of $71.38 billion, a PE ratio of 17.54, a P/E/G ratio of 0.26 and a beta of 0.70. Phillips 66 has a fifty-two week low of $111.19 and a fifty-two week high of $190.61. The business has a 50 day moving average price of $172.12 and a two-hundred day moving average price of $153.30. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. The firm had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.Phillips 66’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.90) EPS. As a group, sell-side analysts predict that Phillips 66 will post 17.64 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, May 18th. Phillips 66’s dividend payout ratio is 50.05%.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 29,400 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $16,553,920. This represents a 23.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kevin Omar Meyers bought 175 shares of Phillips 66 stock in a transaction dated Wednesday, May 6th. The shares were acquired at an average price of $173.12 per share, with a total value of $30,296.00. Following the completion of the purchase, the director owned 16,799 shares in the company, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have sold 114,029 shares of company stock valued at $19,641,455. Corporate insiders own 0.40% of the company’s stock.

About Phillips 66

(Free Report)

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.