Baird Financial Group Inc. Has $19.88 Million Stock Holdings in Phillips 66 $PSX

Posted by Brian Himes on Sep 12th, 2026

Baird Financial Group Inc. lowered its holdings in shares of Phillips 66 (NYSE:PSX – Free Report) by 4.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 117,597 shares of the oil and gas company’s stock after selling 5,197 shares during the period. Baird Financial Group Inc.’s holdings in Phillips 66 were worth $19,880,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC increased its position in shares of Phillips 66 by 238.5% during the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after acquiring an additional 7,214 shares during the last quarter. Woodline Partners LP boosted its position in Phillips 66 by 40.7% in the first quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock worth $4,308,000 after purchasing an additional 10,089 shares during the last quarter. Sei Investments Co. boosted its position in Phillips 66 by 28.3% in the second quarter. Sei Investments Co. now owns 157,455 shares of the oil and gas company’s stock worth $18,788,000 after purchasing an additional 34,698 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Phillips 66 by 9.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 346,679 shares of the oil and gas company’s stock valued at $41,359,000 after purchasing an additional 28,988 shares during the period. Finally, Glenview Trust co increased its position in shares of Phillips 66 by 2.6% during the 2nd quarter. Glenview Trust co now owns 8,949 shares of the oil and gas company’s stock valued at $1,068,000 after purchasing an additional 229 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PSX shares. Jefferies Financial Group lifted 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. Barclays raised their price objective on shares of Phillips 66 from $183.00 to $216.00 and gave the stock an “equal weight” rating in a report on Thursday, August 6th. UBS Group lifted their price objective on shares of Phillips 66 from $235.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday. 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 report on Wednesday, May 27th. Finally, Piper Sandler upped their price objective on Phillips 66 from $209.00 to $264.00 and gave the company a “neutral” rating in a research note on Thursday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average target price of $222.76.

Check Out Our Latest Report on Phillips 66

Phillips 66 Price Performance

PSX opened at $259.66 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.32 and a quick ratio of 1.00. The stock’s 50 day simple moving average is $222.85 and its 200 day simple moving average is $189.43. The firm has a market cap of $103.61 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 0.19 and a beta of 0.71. Phillips 66 has a 1 year low of $126.74 and a 1 year high of $265.43.

Phillips 66 (NYSE:PSX – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share for the quarter, beating the consensus estimate of $7.50 by $1.91. The firm had revenue of $52.04 billion during the quarter, compared to the consensus estimate of $43.60 billion. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.During the same quarter in the previous year, the company posted $2.38 earnings per share. As a group, analysts predict that Phillips 66 will post 24.47 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were paid a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, August 18th. Phillips 66’s payout ratio is presently 28.95%.

Phillips 66 declared that its board has approved a share repurchase plan on Friday, July 31st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the oil and gas company to reacquire up to 11.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other Phillips 66 news, EVP Vanessa Sutherland sold 3,523 shares of the stock in a transaction on 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 owned 27,537 shares of the company’s stock, valued at $5,811,683.85. This represents a 11.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Richard Harbison sold 52,100 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $223.76, for a total transaction of $11,657,896.00. Following the completion of the sale, the executive vice president directly owned 39,094 shares in the company, valued at approximately $8,747,673.44. This trade represents a 57.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 100,507 shares of company stock valued at $21,770,810. 0.40% of the stock is owned by corporate insiders.

About Phillips 66

(Free Report)

Phillips 66 (NYSE: PSX) is an energy company that operates across the midstream, chemicals, refining and marketing sectors. Headquartered in Houston, Texas, the company was established in 2012 when ConocoPhillips separated its downstream businesses into an independent company.

The company’s midstream operations include transportation, processing, storage and other infrastructure for crude oil, natural gas and natural gas liquids. Phillips 66 also owns and operates refineries that process crude oil into transportation fuels, lubricants, specialty products and other refined petroleum products.

Phillips 66 markets gasoline, diesel and other fuels under the Phillips 66, Conoco and 76 brands, primarily in the United States.