NewEdge Advisors LLC Sells 172,591 Shares of Phillips 66 $PSX

NewEdge Advisors LLC reduced its stake in shares of Phillips 66 (NYSE:PSX) by 17.3% during the first quarter, Holdings Channel reports. The institutional investor owned 824,364 shares of the oil and gas company’s stock after selling 172,591 shares during the period. NewEdge Advisors LLC’s holdings in Phillips 66 were worth $150,183,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PSX. Brighton Jones LLC increased its stake in shares of Phillips 66 by 238.5% in the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after purchasing an additional 7,214 shares in the last quarter. Woodline Partners LP lifted its stake in shares of Phillips 66 by 40.7% during 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 buying an additional 10,089 shares in the last quarter. Sei Investments Co. lifted its stake in shares of 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 buying an additional 34,698 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings 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 worth $41,359,000 after buying an additional 28,988 shares during the period. Finally, Glenview Trust co increased its stake in Phillips 66 by 2.6% in the 2nd quarter. Glenview Trust co now owns 8,949 shares of the oil and gas company’s stock worth $1,068,000 after buying an additional 229 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Down 1.8%

PSX opened at $202.20 on Thursday. The company has a market capitalization of $81.07 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 0.16 and a beta of 0.68. The firm has a 50-day simple moving average of $187.27 and a two-hundred day simple moving average of $172.26. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. Phillips 66 has a 52 week low of $118.07 and a 52 week high of $216.08.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.50 by $1.91. The firm had revenue of $52.04 billion for the quarter, compared to analysts’ expectations of $43.60 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.During the same period in the previous year, the firm posted $2.38 earnings per share. Analysts forecast that Phillips 66 will post 22.43 earnings per share for the current fiscal year.

Phillips 66 announced that its Board of Directors has initiated a stock repurchase plan on Friday, July 31st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 11.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a yield of 2.5%. Phillips 66’s payout ratio is presently 50.05%.

Insider Activity at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 3,523 shares of the stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $211.05, for a total transaction of $743,529.15. Following the completion of the transaction, the executive vice president directly owned 27,537 shares in the company, valued at approximately $5,811,683.85. This represents a 11.34% decrease in their position. The transaction was disclosed in a legal filing 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, CFO Kevin J. Mitchell sold 11,021 shares of the firm’s stock in a transaction on Thursday, July 9th. The shares were 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 directly owned 97,376 shares of the company’s stock, valued at approximately $18,504,361.28. This trade represents a 10.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 45,107 shares of company stock worth $8,057,584 over the last ninety days. Insiders own 0.40% of the company’s stock.

Phillips 66 News Summary

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

• Positive Sentiment: Phillips 66 earned $9.41 per share, well above analyst estimates of approximately $7.50–$7.68 and up sharply from $2.38 a year earlier. Revenue also exceeded expectations, supported by wider refining margins, stronger chemicals results and record midstream volumes. Phillips 66 Beats Q2 Earnings and Revenue Estimates
• Positive Sentiment: The company reduced debt by $6.6 billion and approved a $10 billion expansion of its share-repurchase authorization. The buyback signals confidence in cash generation and could support per-share earnings and shareholder returns. Phillips 66 Cashes In on Refining Boom
• Positive Sentiment: Management plans to operate its refineries at roughly the mid-90% capacity range in the third quarter, indicating confidence in demand and operating conditions. Midstream growth and improved chemicals performance provide additional earnings support beyond refining. Phillips 66 Plans Refineries to Run at Mid-90% Capacity
• Neutral Sentiment: Refining profitability benefited from supply disruptions connected to the Middle East, which widened fuel spreads. While favorable for near-term results, investors may view these gains as cyclical and difficult to sustain if global supply conditions normalize.
• Negative Sentiment: PSX is trading near its 12-month high after a significant rally, increasing the risk of profit-taking following the earnings release. Recent insider activity has also been weighted toward sales, although such transactions may reflect routine diversification rather than a change in business outlook.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Phillips 66 in a report on Wednesday, July 29th. JPMorgan Chase & Co. increased their target price on Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. Citigroup lifted their target price on Phillips 66 from $183.00 to $204.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Morgan Stanley lifted their target price on Phillips 66 from $180.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Finally, Guggenheim upgraded Phillips 66 to an “outperform” rating in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $201.72.

Phillips 66 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.