Phillips 66 $PSX Shares Sold by MH & Associates Securities Management Corp ADV

MH & Associates Securities Management Corp ADV lessened its stake in shares of Phillips 66 (NYSE:PSX) by 42.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,827 shares of the oil and gas company’s stock after selling 10,381 shares during the quarter. Phillips 66 comprises about 3.1% of MH & Associates Securities Management Corp ADV’s investment portfolio, making the stock its 11th biggest holding. MH & Associates Securities Management Corp ADV’s holdings in Phillips 66 were worth $3,530,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Phillips 66 in the second quarter valued at $5,766,779,000. Bank of New York Mellon Corp acquired a new position in Phillips 66 during the second quarter worth about $1,093,206,000. Bank of America Corp DE bought a new stake in Phillips 66 in the second quarter worth about $469,970,000. Legal & General Group Plc acquired a new stake in Phillips 66 in the 2nd quarter valued at about $303,648,000. Finally, Deutsche Bank AG acquired a new stake in Phillips 66 in the 2nd quarter valued at about $271,128,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $259.38 on Thursday. The firm has a market cap of $101.18 billion, a price-to-earnings ratio of 8.28, a P/E/G ratio of 0.15 and a beta of 0.69. The company has a current ratio of 1.34, a quick ratio of 1.04 and a debt-to-equity ratio of 0.49. Phillips 66 has a 1 year low of $127.16 and a 1 year high of $299.39. The business has a fifty day simple moving average of $267.86 and a 200 day simple moving average of $200.44.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, October 28th. The oil and gas company reported $14.08 EPS for the quarter, beating the consensus estimate of $11.73 by $2.35. Phillips 66 had a return on equity of 33.12% and a net margin of 7.27%. The business had revenue of $50.54 billion during the quarter, compared to analysts’ expectations of $44.91 billion. During the same quarter in the previous year, the business posted $2.52 EPS. As a group, sell-side analysts predict that Phillips 66 will post 33.63 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 17th will be given a dividend of $1.33 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.27. This represents a $5.32 annualized dividend and a yield of 2.1%. Phillips 66’s dividend payout ratio (DPR) is currently 16.22%.

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

Trending Headlines about Phillips 66

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

• Positive Sentiment: Phillips 66 agreed to a long-term deal with Restaurant Technologies to supply used cooking oil for renewable diesel and sustainable aviation fuel production at its Rodeo facility. The agreement supports feedstock access and the company’s lower-carbon fuels business. Article: Phillips 66 secures long-term used cooking oil supply
• Positive Sentiment: Morgan Stanley issued a buy rating on PSX, signaling confidence in the shares’ prospects. Article: Morgan Stanley issues a buy rating
• Neutral Sentiment: Citigroup raised its price target to $302 from $297 but kept a neutral rating. The higher target is supportive, though the unchanged rating suggests the bank sees limited reason to upgrade its stance. Article: Citigroup adjusts price target
• Negative Sentiment: A report highlighted a steep single-session drop in PSX shares, signaling notable near-term selling pressure. The article did not identify a specific company catalyst for the decline. Article: Phillips 66 drops in one session

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PSX shares. Weiss Ratings raised shares of Phillips 66 from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Freedom Broker raised shares of Phillips 66 from a “sell” rating to a “hold” rating and increased their target price for the company from $173.00 to $258.00 in a research note on Friday, October 30th. Barclays raised their target price on shares of Phillips 66 from $216.00 to $282.00 and gave the stock an “equal weight” rating in a report on Monday, October 12th. Morgan Stanley upped their price target on Phillips 66 from $284.00 to $290.00 and gave the company an “overweight” rating in a report on Monday. Finally, Mizuho downgraded Phillips 66 from an “outperform” rating to a “neutral” rating and increased their price objective for the company from $220.00 to $300.00 in a research report on Thursday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $270.12.

Insider Buying and Selling at Phillips 66

In related news, EVP Richard G. Harbison sold 52,100 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $223.76, for a total value of $11,657,896.00. Following the completion of the sale, the executive vice president directly owned 39,094 shares in the company, valued at approximately $8,747,673.44. The trade was a 57.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Brian Mandell sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $215.00, for a total value of $6,450,000.00. Following the sale, the executive vice president directly owned 61,595 shares of the company’s stock, valued at $13,242,925. The trade was a 32.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 108,800 shares of company stock worth $25,016,566 over the last three months. Company insiders own 0.40% of the company’s stock.

Phillips 66 Profile

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.