Gables Capital Management Inc. Acquires Shares of 2,602 Phillips 66 $PSX

Gables Capital Management Inc. bought a new position in Phillips 66 (NYSE:PSX) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 2,602 shares of the oil and gas company’s stock, valued at approximately $440,000.

Other large investors have also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in Phillips 66 by 238.5% during the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after buying an additional 7,214 shares during the period. Woodline Partners LP raised its stake in shares of Phillips 66 by 40.7% in the first quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock valued at $4,308,000 after acquiring an additional 10,089 shares during the period. Sei Investments Co. lifted its holdings in shares of Phillips 66 by 28.3% in the 2nd quarter. Sei Investments Co. now owns 157,455 shares of the oil and gas company’s stock worth $18,788,000 after acquiring an additional 34,698 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings 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 last quarter. Finally, Glenview Trust co boosted its stake in shares of Phillips 66 by 2.6% during the 2nd quarter. Glenview Trust co now owns 8,949 shares of the oil and gas company’s stock worth $1,068,000 after purchasing an additional 229 shares during the period. Institutional investors own 76.93% of the company’s stock.

Trending Headlines about Phillips 66

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

• Positive Sentiment: Western Gateway pipeline deal supports the rally. The reported transaction is expected to expand Phillips 66’s midstream footprint, potentially improving cash flow and giving its refining and marketing operations greater supply and distribution flexibility. Phillips 66 stock hits 52-week high as pipeline deal adds to rally Will Western Gateway Enhance PSX’s Midstream & Refining Cash Flow?
• Positive Sentiment: Record diesel prices could lift refining margins. Diesel strength is diverging from crude-oil trends, creating favorable economics for refiners such as Phillips 66 and potentially supporting near-term profits and cash generation. Diesel Prices Are Breaking Records
• Positive Sentiment: Options activity signals aggressive bullish positioning. Traders purchased 52,191 PSX call options, versus an average of 2,983, indicating elevated expectations for additional upside. Options flow can amplify momentum, although it is not a guarantee of future performance. Stock Traders Purchase Large Volume of Phillips 66 Call Options
• Neutral Sentiment: A fire at a major fuel depot on a key pipeline system could disrupt refined-product supplies. The resulting supply tightness may support diesel prices and refining margins, but potential logistics or operational disruptions create uncertainty for Phillips 66. Lightning Sparks Fire at Massive US Fuel Depot
• Negative Sentiment: An executive sold more than 52,000 Phillips 66 shares after exercising options, locking in substantial gains following the stock’s strong run. The sale may weigh modestly on sentiment, though it appears related to profit-taking rather than a disclosed change in business prospects. Executive Dumps Over 52,000 Shares of Iconic Energy Stock
• Negative Sentiment: A feedstock-agreement dispute with XCF Global could expose Phillips 66 to legal or commercial uncertainty, although the available report does not indicate a material financial impact on PSX. XCF Global dispute with Phillips 66

Insider Buying and Selling

In other Phillips 66 news, EVP Richard G. Harbison sold 52,100 shares of Phillips 66 stock in a transaction dated 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 transaction, the executive vice president owned 39,094 shares in the company, valued at $8,747,673.44. The trade was a 57.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the executive vice president owned 27,537 shares in the company, valued at $5,811,683.85. This represents a 11.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 100,507 shares of company stock worth $21,770,810 in the last three months. 0.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Raymond James Financial upped their price target on shares of Phillips 66 from $218.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, July 13th. JPMorgan Chase & Co. boosted their target price on Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. Mizuho raised Phillips 66 from a “neutral” rating to an “outperform” rating and upped their target price for the company from $170.00 to $212.00 in a research note on Wednesday, May 27th. Barclays boosted their price objective on Phillips 66 from $183.00 to $216.00 and gave the company an “equal weight” rating in a report on Thursday, August 6th. Finally, Jefferies Financial Group upped their price objective on Phillips 66 from $191.00 to $207.00 and gave the company a “hold” rating in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $206.56.

Phillips 66 Stock Performance

Shares of PSX stock opened at $243.26 on Wednesday. The firm has a market cap of $97.07 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 0.17 and a beta of 0.68. Phillips 66 has a 52-week low of $121.24 and a 52-week high of $243.60. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average is $195.15 and its 200 day moving average is $177.62.

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, topping analysts’ consensus estimates of $7.50 by $1.91. The company had revenue of $52.04 billion during the quarter, compared to analyst estimates of $43.60 billion. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.During the same quarter in the prior year, the business earned $2.38 earnings per share. On average, sell-side analysts anticipate that Phillips 66 will post 24.44 EPS for the current fiscal year.

Phillips 66 declared that its Board of Directors has authorized a stock buyback program 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 purchase up to 11.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Phillips 66 Dividend Announcement

The business 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 dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s dividend payout ratio is 28.95%.

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.