Phillips 66 $PSX Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of Phillips 66 (NYSE:PSX) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 853,719 shares of the oil and gas company’s stock after selling 8,422 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Phillips 66 were worth $144,321,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. NFSG Corp lifted its holdings in shares of Phillips 66 by 105.6% in the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Axiom Investment Management LLC purchased a new position in Phillips 66 during the 1st quarter worth approximately $27,000. SWAN Capital LLC increased its position in Phillips 66 by 1,055.6% during the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after buying an additional 190 shares during the period. Agman Capital LLC increased its position in Phillips 66 by 832.1% during the second quarter. Agman Capital LLC now owns 183,634 shares of the oil and gas company’s stock worth $31,000 after buying an additional 163,932 shares during the period. Finally, Sfam LLC purchased a new stake in Phillips 66 in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Up 0.3%

Phillips 66 stock opened at $233.29 on Friday. The stock has a 50 day moving average of $192.72 and a two-hundred day moving average of $175.95. Phillips 66 has a twelve month low of $121.24 and a twelve month high of $236.14. The stock has a market capitalization of $93.09 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 0.17 and a beta of 0.68. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57.

Phillips 66 (NYSE:PSX) last released 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. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.The business had revenue of $52.04 billion for the quarter, compared to analyst estimates of $43.60 billion. During the same quarter in the previous year, the company posted $2.38 earnings per share. As a group, research analysts expect that Phillips 66 will post 24.44 earnings per share for the current year.

Phillips 66 Announces Dividend

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. This represents a $5.08 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66’s payout ratio is currently 28.95%.

Phillips 66 declared that its Board of Directors has initiated a share repurchase program on Friday, July 31st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the oil and gas company to repurchase up to 11.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

Phillips 66 News Roundup

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

• Positive Sentiment: Takeover talks highlight strategic value. Phillips 66 and Marathon Petroleum reportedly discussed a potential combination valued at roughly $180 billion. Although the talks did not result in a deal, the discussions underscore PSX’s scale and could renew speculation about consolidation among U.S. refiners. Phillips 66 and Marathon Petroleum held takeover talks
• Positive Sentiment: Refining margins and shareholder returns remain supportive. Supply disruptions linked to the Iran conflict have lifted fuel margins, helping major refiners generate strong profits and increase buybacks and dividends. Phillips 66 has authorized a $10 billion repurchase program and pays a quarterly dividend of $1.27 per share. U.S. refiners ramp up buybacks as Iran war boosts fuel margins
• Positive Sentiment: Infrastructure expansion adds a longer-term growth angle. PSX, Kinder Morgan and HF Sinclair are advancing the approximately $5 billion Western Gateway refined-products pipeline, which is expected to improve market access and logistics flexibility. Phillips 66 and partners advance Western Gateway pipeline project
• Neutral Sentiment: Merger failure limits the immediate upside from consolidation. Antitrust concerns and operational complexity reportedly derailed the proposed Marathon Petroleum transaction. The outcome removes a near-term transformational catalyst, while the broader energy-sector rally and PSX’s premium valuation leave the stock more exposed to a reversal in refining margins. Reported Phillips 66 and Marathon Petroleum merger analysis
• Negative Sentiment: Heavy insider selling may weigh on sentiment. EVP Richard Harbison sold 52,100 shares for approximately $11.7 million, while EVP Brian Mandell sold 33,300 shares for about $7.2 million. The trades may be profit-taking after PSX’s strong rally, but they reduce insiders’ holdings and could raise short-term concerns about valuation. Richard Harbison sells Phillips 66 shares

Analysts Set New Price Targets

Several research firms have recently weighed in on PSX. JPMorgan Chase & Co. increased their price objective on Phillips 66 from $188.00 to $202.00 in a report on Thursday, April 30th. Citigroup reiterated a “neutral” rating on shares of Phillips 66 in a research report on Thursday, August 6th. Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. BMO Capital Markets raised their price objective on shares of Phillips 66 from $195.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Finally, Piper Sandler lifted their price objective on shares of Phillips 66 from $208.00 to $209.00 and gave the company a “neutral” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $206.56.

Insider Activity

In other news, EVP Brian Mandell sold 30,000 shares of Phillips 66 stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $215.00, for a total value of $6,450,000.00. Following the sale, the executive vice president owned 61,595 shares of the company’s stock, valued at $13,242,925. The trade was a 32.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 3,523 shares of the business’s stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $211.05, for a total transaction of $743,529.15. Following the transaction, the executive vice president owned 27,537 shares in the company, valued at approximately $5,811,683.85. This trade represents a 11.34% 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. Over the last quarter, insiders sold 100,507 shares of company stock valued at $21,770,810. 0.40% of the stock is owned by corporate 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.