SWS Partners acquired a new stake in Phillips 66 (NYSE:PSX – Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 19,349 shares of the oil and gas company’s stock, valued at approximately $3,271,000.
Several other institutional investors and hedge funds also recently made changes to their positions in PSX. NFSG Corp raised its position in Phillips 66 by 105.6% in the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 75 shares during the period. Axiom Investment Management LLC purchased a new stake in Phillips 66 during the first quarter valued at about $27,000. SWAN Capital LLC grew its stake in shares of Phillips 66 by 1,055.6% during the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 190 shares during the last quarter. Agman Capital LLC grew its stake in shares of Phillips 66 by 832.1% during the second quarter. Agman Capital LLC now owns 183,634 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 163,932 shares during the last quarter. Finally, Sfam LLC purchased a new position in shares of Phillips 66 in the fourth quarter worth about $34,000. Institutional investors own 76.93% of the company’s stock.
Phillips 66 Price Performance
PSX stock opened at $233.29 on Monday. The stock has a market capitalization of $93.09 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 0.17 and a beta of 0.68. The firm’s 50-day moving average price is $192.72 and its two-hundred day moving average price is $176.20. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57. Phillips 66 has a 12-month low of $121.24 and a 12-month high of $236.14.
Phillips 66 Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a dividend of $1.27 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a yield of 2.2%. Phillips 66’s dividend payout ratio is presently 28.95%.
Phillips 66 announced that its board has authorized a stock repurchase plan on Friday, July 31st that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to buy up to 11.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
Key Phillips 66 News
Here are the key news stories impacting Phillips 66 this week:
- Positive Sentiment: Takeover talks highlight strategic value. Phillips 66 and Marathon Petroleum reportedly discussed a potential combination valued at roughly $180 billion. Although the talks did not result in a deal, the discussions underscore PSX’s scale and could renew speculation about consolidation among U.S. refiners. Phillips 66 and Marathon Petroleum held takeover talks
- Positive Sentiment: Refining margins and shareholder returns remain supportive. Supply disruptions linked to the Iran conflict have lifted fuel margins, helping major refiners generate strong profits and increase buybacks and dividends. Phillips 66 has authorized a $10 billion repurchase program and pays a quarterly dividend of $1.27 per share. U.S. refiners ramp up buybacks as Iran war boosts fuel margins
- Positive Sentiment: Infrastructure expansion adds a longer-term growth angle. PSX, Kinder Morgan and HF Sinclair are advancing the approximately $5 billion Western Gateway refined-products pipeline, which is expected to improve market access and logistics flexibility. Phillips 66 and partners advance Western Gateway pipeline project
- Neutral Sentiment: Merger failure limits the immediate upside from consolidation. Antitrust concerns and operational complexity reportedly derailed the proposed Marathon Petroleum transaction. The outcome removes a near-term transformational catalyst, while the broader energy-sector rally and PSX’s premium valuation leave the stock more exposed to a reversal in refining margins. Reported Phillips 66 and Marathon Petroleum merger analysis
- Negative Sentiment: Heavy insider selling may weigh on sentiment. EVP Richard Harbison sold 52,100 shares for approximately $11.7 million, while EVP Brian Mandell sold 33,300 shares for about $7.2 million. The trades may be profit-taking after PSX’s strong rally, but they reduce insiders’ holdings and could raise short-term concerns about valuation. Richard Harbison sells Phillips 66 shares
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on PSX shares. Weiss Ratings raised Phillips 66 from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday. Piper Sandler raised their price target on Phillips 66 from $208.00 to $209.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Barclays lifted their price target on Phillips 66 from $183.00 to $216.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 6th. Scotiabank boosted their price objective on Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Finally, Guggenheim raised Phillips 66 to an “outperform” rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $206.56.
Check Out Our Latest Stock Analysis on PSX
Insiders Place Their Bets
In other Phillips 66 news, CFO Kevin J. Mitchell sold 11,021 shares of the stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total value of $2,094,320.63. Following the completion of the sale, the chief financial officer owned 97,376 shares in the company, valued at approximately $18,504,361.28. This trade represents a 10.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Vanessa Allen Sutherland sold 3,523 shares of Phillips 66 stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $211.05, for a total value of $743,529.15. Following the completion of the sale, the executive vice president owned 27,537 shares in the company, valued at approximately $5,811,683.85. This represents a 11.34% 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. Over the last 90 days, insiders sold 100,507 shares of company stock worth $21,770,810. 0.40% of the stock is currently owned by company insiders.
Phillips 66 Company 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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