Independent Financial Group LLC Buys New Shares in Phillips 66 $PSX

Posted by Francis Steltz on Jul 20th, 2026

Independent Financial Group LLC purchased a new stake in shares of Phillips 66 (NYSE:PSX – Free Report) during the first quarter, Holdings Channel reports. The firm purchased 9,328 shares of the oil and gas company’s stock, valued at approximately $1,699,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Accordant Advisory Group Inc increased its position in shares of Phillips 66 by 900.0% during the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 180 shares during the last quarter. Eagle Bay Advisors LLC bought a new stake in Phillips 66 in the 4th quarter worth approximately $27,000. NFSG Corp boosted its stake in Phillips 66 by 105.6% in the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after buying an additional 75 shares in the last quarter. SWAN Capital LLC boosted its stake in Phillips 66 by 1,055.6% in the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after buying an additional 190 shares in the last quarter. Finally, Stephens Consulting LLC grew its position in Phillips 66 by 67.7% during the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 90 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kevin Omar Meyers acquired 175 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were purchased at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the transaction, the director owned 16,799 shares of the company’s stock, valued at $2,908,242.88. The trade was a 1.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin J. Mitchell sold 11,021 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the transaction, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $18,504,361.28. This trade represents a 10.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 41,021 shares of company stock valued at $7,195,257 over the last quarter. 0.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PSX has been the topic of several research reports. Mizuho raised shares of Phillips 66 from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $170.00 to $212.00 in a research note on Wednesday, May 27th. TD Cowen upped their price objective on shares of Phillips 66 from $213.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Citigroup increased their target price on shares of Phillips 66 from $183.00 to $204.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. BMO Capital Markets lifted their target price on shares of Phillips 66 from $195.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Finally, Barclays boosted their price target on shares of Phillips 66 from $177.00 to $183.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $196.06.

Check Out Our Latest Analysis on Phillips 66

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $206.96 on Monday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. Phillips 66 has a one year low of $118.07 and a one year high of $207.14. The business’s 50 day simple moving average is $179.03 and its two-hundred day simple moving average is $165.75. The stock has a market capitalization of $82.97 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 0.27 and a beta of 0.69.

Phillips 66 (NYSE:PSX – Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm 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 firm posted ($0.90) earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Analysts forecast that Phillips 66 will post 19.84 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s dividend payout ratio is currently 50.05%.

Phillips 66 Profile

(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.