Kingsview Wealth Management LLC Makes New Investment in Phillips 66 $PSX

Posted by Brian Himes on Aug 29th, 2026

Kingsview Wealth Management LLC purchased a new stake in shares of Phillips 66 (NYSE:PSX – Free Report) during the 2nd quarter, HoldingsChannel reports. The firm purchased 43,343 shares of the oil and gas company’s stock, valued at approximately $7,327,000.

Several other institutional investors have also recently modified their holdings of the company. Beacon Pointe Advisors LLC acquired a new stake in shares of Phillips 66 during the second quarter worth about $7,947,000. Kimelman & Baird LLC acquired a new position in Phillips 66 in the 2nd quarter worth approximately $106,000. Pin Oak Investment Advisors Inc. purchased a new position in Phillips 66 during the 2nd quarter worth approximately $76,000. Strait & Sound Wealth Management LLC acquired a new stake in Phillips 66 during the 2nd quarter valued at approximately $288,000. Finally, Rakuten Investment Management Inc. purchased a new stake in shares of Phillips 66 in the 2nd quarter valued at $11,414,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Up 2.0%

PSX opened at $244.50 on Friday. The company has a fifty day moving average of $206.11 and a two-hundred day moving average of $182.58. The stock has a market capitalization of $97.56 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 0.18 and a beta of 0.68. Phillips 66 has a fifty-two week low of $126.74 and a fifty-two week high of $246.95. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.32.

Phillips 66 (NYSE:PSX – Get Free Report) last posted its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.50 by $1.91. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. The business had revenue of $52.04 billion for the quarter, compared to analyst estimates of $43.60 billion. During the same period in the prior year, the company posted $2.38 EPS. On average, research analysts expect that Phillips 66 will post 23.86 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm 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 $1.27 dividend. 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 2.1%. Phillips 66’s dividend payout ratio is presently 28.95%.

Phillips 66 declared that its board has authorized a share buyback program on Friday, July 31st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the oil and gas company to purchase up to 11.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PSX shares. The Goldman Sachs Group increased their price objective on shares of Phillips 66 from $207.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Zacks Research downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Morgan Stanley increased their price target on Phillips 66 from $180.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Wells Fargo & Company boosted their price objective on Phillips 66 from $201.00 to $239.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Finally, Jefferies Financial Group upped their target price on Phillips 66 from $191.00 to $207.00 and gave the stock a “hold” rating in a research note on Thursday, July 9th. One investment 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.56.

Get Our Latest Report on Phillips 66

Insiders Place Their Bets

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 3,523 shares of the firm’s 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 sale, the executive vice president directly owned 27,537 shares of the company’s stock, valued at approximately $5,811,683.85. This trade represents a 11.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin J. Mitchell sold 11,021 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The shares were 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 of the company’s stock, valued at $18,504,361.28. This trade represents a 10.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 100,507 shares of company stock worth $21,770,810. Company insiders own 0.40% of the company’s stock.

Phillips 66 Company 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.