CCM Investment Advisers LLC Sells 42,397 Shares of Phillips 66 $PSX

CCM Investment Advisers LLC decreased its holdings in Phillips 66 (NYSE:PSX) by 44.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 52,177 shares of the oil and gas company’s stock after selling 42,397 shares during the period. CCM Investment Advisers LLC’s holdings in Phillips 66 were worth $9,506,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Norges Bank purchased a new position in Phillips 66 in the 4th quarter valued at approximately $640,206,000. M&T Bank Corp raised its holdings in Phillips 66 by 462.9% during the 4th quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock valued at $352,007,000 after acquiring an additional 2,243,268 shares during the period. AQR Capital Management LLC lifted its position in shares of Phillips 66 by 424.7% during the third quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock worth $257,512,000 after acquiring an additional 1,532,389 shares in the last quarter. Amundi boosted its holdings in shares of Phillips 66 by 62.0% in the first quarter. Amundi now owns 3,667,451 shares of the oil and gas company’s stock worth $668,137,000 after acquiring an additional 1,403,493 shares during the period. Finally, Worldquant Millennium Advisors LLC bought a new position in shares of Phillips 66 in the second quarter worth $107,967,000. Institutional investors own 76.93% of the company’s stock.

Key Stories Impacting Phillips 66

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

• Positive Sentiment: Refining economics are supporting the stock. Record or elevated crack spreads, softer crude costs and potential supply disruptions linked to Iran are improving the outlook for U.S. refiners, including Phillips 66. Phillips 66 Gains on Refining Strength
• Positive Sentiment: Analyst expectations for second-quarter results have strengthened, reflecting anticipated refinery resilience and lower feedstock costs. The company’s prior quarter also exceeded EPS expectations, providing additional support for sentiment. Phillips 66 Q2 Earnings Preview
• Positive Sentiment: Phillips 66 shares outperformed the broader market as energy stocks advanced, reinforcing the stock’s recent momentum. Several analysts remain constructive, including UBS, which raised its price target to $235, while Guggenheim upgraded the shares to outperform. Phillips 66 Outpaces Stock Market Gains
• Positive Sentiment: The company’s quarterly dividend remains attractive at $1.27 per share, or $5.08 annualized, offering investors an approximately 2.5% yield and supporting total-return appeal.

Phillips 66 Trading Up 1.8%

Phillips 66 stock opened at $210.47 on Friday. The stock has a market cap of $84.39 billion, a P/E ratio of 20.74, a PEG ratio of 0.16 and a beta of 0.69. Phillips 66 has a fifty-two week low of $118.07 and a fifty-two week high of $216.08. The firm’s fifty day moving average price is $184.84 and its 200-day moving average price is $170.38. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data 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. The company had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.90) earnings per share. Equities research analysts forecast that Phillips 66 will post 22.43 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders 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 annualized dividend and a dividend yield of 2.4%. Phillips 66’s dividend payout ratio (DPR) is presently 50.05%.

Analysts Set New Price Targets

A number of analysts recently issued reports on PSX shares. Guggenheim upgraded Phillips 66 to an “outperform” rating in a research note on Wednesday, May 27th. UBS Group raised their target price on Phillips 66 from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday. JPMorgan Chase & Co. lifted their target price on Phillips 66 from $188.00 to $202.00 in a report on Thursday, April 30th. Scotiabank upped their price target on Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Finally, Mizuho raised shares of Phillips 66 from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $170.00 to $212.00 in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $201.72.

Insider Activity

In other news, CFO Kevin J. Mitchell sold 11,021 shares of the business’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the completion of the transaction, the chief financial officer owned 97,376 shares of the company’s stock, valued at approximately $18,504,361.28. The trade was a 10.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Omar Meyers acquired 175 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was bought at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the transaction, the director owned 16,799 shares of the company’s stock, valued at $2,908,242.88. The trade was a 1.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders sold 45,107 shares of company stock worth $8,057,584. 0.40% of the stock is currently owned by insiders.

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.