Wealthfront Advisers LLC purchased a new stake in shares of Phillips 66 (NYSE:PSX – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 75,124 shares of the oil and gas company’s stock, valued at approximately $12,700,000.
A number of other large investors have also recently bought and sold shares of the business. NFSG Corp lifted its stake in shares of Phillips 66 by 105.6% in the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 75 shares during the period. Axiom Investment Management LLC acquired a new stake in Phillips 66 during the first quarter worth approximately $27,000. Kelleher Financial Advisors acquired a new stake in Phillips 66 during the second quarter worth approximately $29,000. J.Safra Asset Management Corp bought a new stake in Phillips 66 in the second quarter worth approximately $30,000. Finally, SWAN Capital LLC increased its holdings 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 purchasing an additional 190 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages have issued reports on PSX. BMO Capital Markets boosted their price target on Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Wells Fargo & Company lifted their price objective on shares of Phillips 66 from $201.00 to $239.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Raymond James Financial boosted their target price on shares of Phillips 66 from $218.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Mizuho raised shares of Phillips 66 from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $170.00 to $212.00 in a research note on Wednesday, May 27th. Finally, Zacks Research cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $206.56.
Insider Buying and Selling at Phillips 66
In other news, EVP Vanessa Allen Sutherland sold 3,523 shares of the business’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $211.05, for a total transaction of $743,529.15. Following the completion of the sale, the executive vice president directly owned 27,537 shares of the company’s stock, valued at $5,811,683.85. The trade was a 11.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Brian Mandell sold 30,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $215.00, for a total transaction of $6,450,000.00. Following the completion of the sale, the executive vice president owned 61,595 shares in the company, valued at $13,242,925. This represents a 32.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 100,507 shares of company stock worth $21,770,810. Corporate insiders own 0.40% of the company’s stock.
Phillips 66 News Roundup
Here are the key news stories impacting Phillips 66 this week:
- Positive Sentiment: Western Gateway pipeline deal supports the rally. The reported transaction is expected to expand Phillips 66’s midstream footprint, potentially improving cash flow and giving its refining and marketing operations greater supply and distribution flexibility. Phillips 66 stock hits 52-week high as pipeline deal adds to rally Will Western Gateway Enhance PSX’s Midstream & Refining Cash Flow?
- Positive Sentiment: Record diesel prices could lift refining margins. Diesel strength is diverging from crude-oil trends, creating favorable economics for refiners such as Phillips 66 and potentially supporting near-term profits and cash generation. Diesel Prices Are Breaking Records
- Positive Sentiment: Options activity signals aggressive bullish positioning. Traders purchased 52,191 PSX call options, versus an average of 2,983, indicating elevated expectations for additional upside. Options flow can amplify momentum, although it is not a guarantee of future performance. Stock Traders Purchase Large Volume of Phillips 66 Call Options
- Neutral Sentiment: A fire at a major fuel depot on a key pipeline system could disrupt refined-product supplies. The resulting supply tightness may support diesel prices and refining margins, but potential logistics or operational disruptions create uncertainty for Phillips 66. Lightning Sparks Fire at Massive US Fuel Depot
- Negative Sentiment: An executive sold more than 52,000 Phillips 66 shares after exercising options, locking in substantial gains following the stock’s strong run. The sale may weigh modestly on sentiment, though it appears related to profit-taking rather than a disclosed change in business prospects. Executive Dumps Over 52,000 Shares of Iconic Energy Stock
- Negative Sentiment: A feedstock-agreement dispute with XCF Global could expose Phillips 66 to legal or commercial uncertainty, although the available report does not indicate a material financial impact on PSX. XCF Global dispute with Phillips 66
Phillips 66 Trading Up 1.1%
NYSE PSX opened at $243.26 on Wednesday. The company has a market cap of $97.07 billion, a price-to-earnings ratio of 13.86, a P/E/G ratio of 0.17 and a beta of 0.68. Phillips 66 has a 52 week low of $121.24 and a 52 week high of $243.60. The business has a 50 day moving average price of $195.15 and a 200-day moving average price of $177.62. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.57.
Phillips 66 (NYSE:PSX – Get Free Report) last issued its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.50 by $1.91. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.The company had revenue of $52.04 billion for the quarter, compared to analysts’ expectations of $43.60 billion. During the same period last year, the business earned $2.38 EPS. As a group, equities analysts expect that Phillips 66 will post 24.44 earnings per share for the current fiscal year.
Phillips 66 Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a dividend of $1.27 per share. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 annualized dividend and a yield of 2.1%. Phillips 66’s dividend payout ratio is presently 28.95%.
Phillips 66 announced that its Board of Directors has approved a stock repurchase program on Friday, July 31st that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the oil and gas company to purchase up to 11.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
About Phillips 66
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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