Mill Capital Management LLC Takes Position in Phillips 66 $PSX

Mill Capital Management LLC purchased a new position in shares of Phillips 66 (NYSE:PSX) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,462 shares of the oil and gas company’s stock, valued at approximately $585,000.

Several other hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC grew its position in Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after buying an additional 7,214 shares during the last quarter. Woodline Partners LP raised its position in 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 worth $4,308,000 after buying an additional 10,089 shares during the last quarter. Sei Investments Co. raised its position 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 worth $18,788,000 after buying an additional 34,698 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of 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 acquiring an additional 28,988 shares during the period. Finally, Glenview Trust co lifted its stake in shares of 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 acquiring an additional 229 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

Shares of PSX stock opened at $233.29 on Monday. The stock has a fifty day moving average price of $192.72 and a 200 day moving average price of $176.20. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.32. The stock has a market cap of $93.09 billion, a PE ratio of 13.29, a P/E/G ratio of 0.17 and a beta of 0.68. Phillips 66 has a 1 year low of $121.24 and a 1 year high of $236.14.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share for the quarter, beating the consensus estimate of $7.50 by $1.91. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.The company had revenue of $52.04 billion for the quarter, compared to analyst estimates of $43.60 billion. During the same quarter in the prior year, the company earned $2.38 earnings per share. Sell-side analysts forecast that Phillips 66 will post 24.44 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66’s dividend payout ratio is presently 28.95%.

Phillips 66 declared that its board has authorized a stock repurchase program on Friday, July 31st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 11.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Trending Headlines about Phillips 66

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PSX. BMO Capital Markets boosted their price target on shares of Phillips 66 from $195.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Weiss Ratings upgraded shares of Phillips 66 from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday. Piper Sandler lifted their price objective on Phillips 66 from $208.00 to $209.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Raymond James Financial boosted their target price on Phillips 66 from $218.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Finally, The Goldman Sachs Group increased their target price on Phillips 66 from $207.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. One equities research 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’s stock. Based on data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and an average price target of $206.56.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 3,523 shares of the firm’s stock in a transaction dated Tuesday, July 21st. The shares were 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 trade represents a 11.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Brian Mandell sold 30,000 shares of Phillips 66 stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $215.00, for a total transaction of $6,450,000.00. Following the transaction, the executive vice president owned 61,595 shares of the company’s stock, valued at approximately $13,242,925. The trade was a 32.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 100,507 shares of company stock valued at $21,770,810. Insiders own 0.40% of the company’s stock.

About Phillips 66

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.