Phillips 66 $PSX Stock Holdings Lowered by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position in Phillips 66 (NYSE:PSX) by 9.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 470,073 shares of the oil and gas company’s stock after selling 49,310 shares during the period. Principal Financial Group Inc. owned approximately 0.12% of Phillips 66 worth $85,638,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC boosted 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 worth $1,166,000 after buying an additional 7,214 shares during the period. Woodline Partners LP increased its position in Phillips 66 by 40.7% in the 1st quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock valued at $4,308,000 after acquiring an additional 10,089 shares during the period. Sei Investments Co. raised its stake in Phillips 66 by 28.3% during the 2nd quarter. Sei Investments Co. now owns 157,455 shares of the oil and gas company’s stock valued at $18,788,000 after acquiring an additional 34,698 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Phillips 66 by 9.1% during 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 acquiring an additional 28,988 shares in the last quarter. Finally, Glenview Trust co boosted its position in 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 worth $1,068,000 after acquiring an additional 229 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Key Stories Impacting Phillips 66

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

• Positive Sentiment: Tight fuel markets and elevated crack spreads are boosting refining margins, which could improve Phillips 66’s earnings power. Can Tight Fuel Markets Benefit Phillips 66’s Refining Business?
• Positive Sentiment: Limited Middle East crude exposure may help cushion Phillips 66 if geopolitical supply disruptions continue, reducing a key risk for refiners. Can Tight Fuel Markets Benefit Phillips 66’s Refining Business?
• Neutral Sentiment: Analyst comparisons with ExxonMobil highlight Phillips 66’s diversification, but also note ongoing pressure in the refining segment, making the setup more balanced than purely bullish. ExxonMobil vs. Phillips 66: Which Energy Stock Should You Pick?
• Negative Sentiment: The stock has also faced a recent pullback, with traders citing broader weakness in refining and energy shares rather than a Phillips 66-specific setback. Phillips 66 (PSX) Stock Drops Despite Market Gains: Important Facts to Note
• Negative Sentiment: Weaker crude prices and softer sentiment across refiners after inventory data may keep pressure on PSX in the near term. Why Phillips 66 (PSX) Stock Is Down Today

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. TD Cowen raised their price target on Phillips 66 from $213.00 to $220.00 and gave the company a “buy” rating in a report on Monday, June 29th. Jefferies Financial Group upped their price objective on shares of Phillips 66 from $191.00 to $207.00 and gave the stock a “hold” rating in a report on Thursday, July 9th. Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Wells Fargo & Company raised their target price on shares of Phillips 66 from $163.00 to $201.00 and gave the company an “overweight” rating in a research note on Tuesday, March 31st. Finally, Scotiabank boosted their price target on shares of Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus price target of $196.06.

Phillips 66 Trading Up 2.6%

Shares of Phillips 66 stock opened at $201.24 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The firm has a market cap of $80.68 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 0.26 and a beta of 0.69. The business has a fifty day simple moving average of $178.32 and a 200-day simple moving average of $165.20. Phillips 66 has a fifty-two week low of $118.07 and a fifty-two week high of $202.72.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. During the same period in the previous year, the company earned ($0.90) earnings per share. Phillips 66’s revenue was up 6.9% compared to the same quarter last year. On average, equities analysts forecast that Phillips 66 will post 19.84 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a dividend of $1.27 per share. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.5%. Phillips 66’s dividend payout ratio (DPR) is 50.05%.

Insider Activity at Phillips 66

In other Phillips 66 news, Director Kevin Omar Meyers bought 175 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were acquired at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the acquisition, the director directly owned 16,799 shares of the company’s stock, valued at $2,908,242.88. This trade represents a 1.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Kevin J. Mitchell sold 29,400 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $16,553,920. This represents a 23.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 41,021 shares of company stock worth $7,195,257 in the last ninety days. Corporate insiders own 0.40% of the company’s stock.

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.