Icon Advisers Inc. Co. Makes New $3.13 Million Investment in Phillips 66 $PSX

Icon Advisers Inc. Co. purchased a new stake in Phillips 66 (NYSE:PSX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 23,000 shares of the oil and gas company’s stock, valued at approximately $3,128,000.

A number of other hedge funds also recently made changes to their positions in PSX. Elliott Investment Management L.P. grew its position in Phillips 66 by 22.4% in the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock valued at $2,296,644,000 after acquiring an additional 3,526,000 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in shares of Phillips 66 by 57.4% during the third quarter. Oppenheimer & Co. Inc. now owns 56,858 shares of the oil and gas company’s stock valued at $7,734,000 after acquiring an additional 20,742 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in shares of Phillips 66 by 5.0% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 209,700 shares of the oil and gas company’s stock valued at $28,523,000 after acquiring an additional 10,000 shares during the period. Vanguard Group Inc. boosted its stake in shares of Phillips 66 by 14.8% in the 2nd quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock valued at $5,531,702,000 after purchasing an additional 5,978,841 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Phillips 66 by 3.9% in the 2nd quarter. California Public Employees Retirement System now owns 696,577 shares of the oil and gas company’s stock valued at $83,102,000 after purchasing an additional 26,238 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Scotiabank reiterated a “sector perform” rating and set a $140.00 target price on shares of Phillips 66 in a research report on Friday, January 16th. Wall Street Zen upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. JPMorgan Chase & Co. decreased their price objective on shares of Phillips 66 from $154.00 to $151.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. The Goldman Sachs Group lifted their target price on shares of Phillips 66 from $152.00 to $164.00 and gave the company a “neutral” rating in a research note on Thursday, January 22nd. Finally, UBS Group reissued a “buy” rating and issued a $172.00 target price on shares of Phillips 66 in a report on Friday, February 6th. Eleven analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $160.11.

Insider Activity

In other news, CFO Kevin J. Mitchell sold 16,856 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $168.22, for a total transaction of $2,835,516.32. Following the sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at $16,380,590.72. This represents a 14.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Don Baldridge sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the executive vice president directly owned 38,488 shares of the company’s stock, valued at approximately $6,158,080. This represents a 16.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 38,088 shares of company stock valued at $6,147,655 over the last three months. 0.22% of the stock is owned by insiders.

Phillips 66 Stock Performance

Phillips 66 stock opened at $165.94 on Friday. The stock has a 50-day simple moving average of $147.54 and a 200 day simple moving average of $138.57. The company has a quick ratio of 0.91, a current ratio of 1.30 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $169.62. The stock has a market capitalization of $66.50 billion, a price-to-earnings ratio of 15.34, a P/E/G ratio of 0.58 and a beta of 0.86.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.32. The firm had revenue of $32.16 billion for the quarter, compared to analyst estimates of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. During the same quarter in the prior year, the firm earned ($0.15) EPS. On average, research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were given a dividend of $1.27 per share. The ex-dividend date was Monday, February 23rd. This is a positive change from Phillips 66’s previous quarterly dividend of $1.20. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.1%. Phillips 66’s dividend payout ratio (DPR) is currently 46.95%.

Key Headlines Impacting Phillips 66

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Analysts have bumped up coverage and highlighted a higher quarterly dividend and improved valuation momentum, which helped lift investor interest in the stock. A Look At Phillips 66 (PSX) Valuation After Analyst Upgrades Dividend Hike And Venezuela Crude Moves
• Positive Sentiment: Rising global crude benchmarks and refinery-friendly price moves have benefited refiners broadly, supporting Phillips 66’s margin outlook and dividend coverage in the near term. Refining-focused coverage highlights the sector’s resilience to oil swings. Bad News for Drivers Is Good News for Oil Refiners
• Neutral Sentiment: The stock has gained since the last earnings report and recent commentary explains that momentum (earnings beat and trajectory) but notes ongoing volatility; this context helps explain recent investor rotation rather than a clear directional signal. Why Is Phillips 66 (PSX) Up 7.8% Since Last Earnings Report?
• Neutral Sentiment: Management is exploring higher use of heavy Venezuelan crude to secure feedstock; this could lower input costs but creates margin trade-offs (blending, logistics, and quality). The move is a strategic plus if executed, but it introduces execution and geopolitical risk. Phillips 66 Weighs Venezuelan Crude Sourcing Shift And Margin Trade Offs
• Negative Sentiment: Insider selling: CFO Kevin J. Mitchell disclosed two recent Form 4 sales (4,944 shares on Mar 4 at ~$165.03 and 16,856 shares on Mar 5 at ~$168.22, roughly $3.65M combined). Large insider sales can pressure sentiment short-term even if they reflect personal liquidity. SEC Form 4 — Kevin J. Mitchell

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.