Verdence Capital Advisors LLC Sells 2,542 Shares of Phillips 66 $PSX

Verdence Capital Advisors LLC trimmed its position in Phillips 66 (NYSE:PSX) by 25.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,491 shares of the oil and gas company’s stock after selling 2,542 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Phillips 66 were worth $1,913,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Proficio Capital Partners LLC purchased a new stake in Phillips 66 in the second quarter valued at $384,000. BlackRock Inc. acquired a new position in shares of Phillips 66 in the 2nd quarter valued at $5,766,779,000. Fifth Third Bancorp lifted its stake in shares of Phillips 66 by 543.7% in the 1st quarter. Fifth Third Bancorp now owns 128,156 shares of the oil and gas company’s stock valued at $23,348,000 after purchasing an additional 108,248 shares during the last quarter. Stack Financial Management Inc acquired a new position in shares of Phillips 66 in the 2nd quarter valued at $36,317,000. Finally, West Family Investments Inc. purchased a new position in shares of Phillips 66 during the 2nd quarter worth $724,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PSX. BMO Capital Markets raised their price objective on Phillips 66 from $260.00 to $310.00 and gave the stock an “outperform” rating in a research report on Thursday, September 17th. Zacks Research upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Monday, September 7th. TD Cowen upped their target price on shares of Phillips 66 from $295.00 to $308.00 and gave the company a “buy” rating in a research report on Thursday, October 22nd. Wall Street Zen raised shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 26th. Finally, UBS Group increased their target price on shares of Phillips 66 from $235.00 to $300.00 and gave the stock a “buy” rating in a research note on Tuesday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $269.88.

Insiders Place Their Bets

In related news, EVP Richard G. Harbison sold 52,100 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president directly owned 39,094 shares in the company, valued at $8,747,673.44. This trade represents a 57.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Brian Mandell sold 23,400 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $265.06, for a total value of $6,202,404.00. Following the transaction, the executive vice president owned 61,595 shares of the company’s stock, valued at $16,326,370.70. This trade represents a 27.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 108,800 shares of company stock valued at $25,016,566 over the last ninety days. Insiders own 0.40% of the company’s stock.

Phillips 66 Stock Performance

Phillips 66 stock opened at $267.57 on Wednesday. Phillips 66 has a fifty-two week low of $127.16 and a fifty-two week high of $299.39. The firm has a 50 day moving average price of $264.09 and a 200 day moving average price of $196.48. The company has a market capitalization of $106.77 billion, a PE ratio of 15.25 and a beta of 0.71.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.50 by $1.91. The firm had revenue of $51 billion during the quarter, compared to analysts’ expectations of $43.60 billion. During the same period in the previous year, the firm earned $2.38 EPS. As a group, equities research analysts forecast that Phillips 66 will post 31.39 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 17th will be given a dividend of $1.33 per share. This is an increase from Phillips 66’s previous quarterly dividend of $1.27. This represents a $5.32 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Tuesday, November 17th. Phillips 66’s dividend payout ratio (DPR) is 30.31%.

Phillips 66 announced that its Board of Directors has initiated a stock buyback program on Friday, July 31st that allows the company to buy back $10 billion in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 11.8% of its shares through open market purchases. Share buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Phillips 66 News Roundup

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

• Positive Sentiment: Analysts expect a significant year-over-year improvement in third-quarter results, with consensus estimates calling for approximately $11.79 in earnings per share and $43.23 billion in revenue, compared with $2.52 EPS in the prior-year quarter. How to Earn $500 a Month From Phillips 66 Stock Ahead of Q3 Earnings
• Positive Sentiment: Strong refining margins, supported by constrained global capacity and resilient fuel demand, remain the central bullish argument. Phillips 66’s ability to process a flexible crude slate and use discounted heavy crude could further support profitability; the company estimates that each $1 widening in the WTI-WCS spread can add about $140 million to annual EBITDA. How PSX’s Flexible Crude Slate Supports Its Refining Economics
• Positive Sentiment: Phillips 66 recently approved its second dividend increase of 2026, lifting the quarterly payout 4.7% to $1.33. The increase, combined with strong expected earnings and a relatively low payout ratio, reinforces the income and cash-flow case for the stock. Phillips 66 Dividend Information
• Neutral Sentiment: Zacks included PSX among its preferred refining and marketing stocks because of strong industry profit margins, while institutional trading was mixed, with more investors adding shares than reducing positions in the latest reported quarter. Top Refining and Marketing Picks
• Negative Sentiment: Gasoline futures fell to a seven-week low, raising concerns that fuel-market tightness and refining margins could moderate from unusually high levels. Traders may also be locking in gains after PSX’s powerful advance. Phillips 66 Slides as Traders Reassess Refining Upside Ahead of Earnings
• Negative Sentiment: A recent brokerage downgrade argued that much of the refining-sector earnings improvement is already reflected in share prices and that additional policy support may be limited. Reported insider activity has also been weighted heavily toward sales, adding to investor caution.
• Negative Sentiment: Several analyst price targets cited in recent coverage are below the current market valuation, suggesting expectations for a pullback if Wednesday’s results do not clearly exceed forecasts. Phillips 66 Price Swing

About Phillips 66

Phillips 66 (NYSE: PSX) is an energy manufacturing and logistics company headquartered in Houston, Texas. The company was established in 2012 following the separation of ConocoPhillips’ downstream and midstream businesses.

Phillips 66 operates across midstream, chemicals, refining and marketing. Its midstream activities include gathering, processing, transporting and storing crude oil, natural gas and natural gas liquids. Through its refining operations, the company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, lubricants and other refined petroleum products.

The company markets fuel and related products under the Phillips 66, 76 and Conoco brands, serving retail, commercial, aviation and industrial customers.