Torray Investment Partners LLC Has $25.69 Million Stock Position in Phillips 66 $PSX

Torray Investment Partners LLC trimmed its stake in Phillips 66 (NYSE:PSX) by 31.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,031 shares of the oil and gas company’s stock after selling 65,564 shares during the period. Phillips 66 comprises about 3.8% of Torray Investment Partners LLC’s investment portfolio, making the stock its 6th biggest position. Torray Investment Partners LLC’s holdings in Phillips 66 were worth $25,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in Phillips 66 during the fourth quarter worth about $640,206,000. M&T Bank Corp raised its holdings in Phillips 66 by 462.9% in the 4th quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock valued at $352,007,000 after acquiring an additional 2,243,268 shares in the last quarter. AQR Capital Management LLC raised its holdings in Phillips 66 by 424.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock valued at $257,512,000 after acquiring an additional 1,532,389 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new stake in shares of Phillips 66 in the 2nd quarter worth approximately $107,967,000. Finally, NewEdge Advisors LLC lifted its position in shares of Phillips 66 by 732.0% in the 4th quarter. NewEdge Advisors LLC now owns 996,955 shares of the oil and gas company’s stock worth $128,647,000 after acquiring an additional 877,131 shares during the period. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PSX shares. Wolfe Research boosted their price objective on Phillips 66 from $187.00 to $193.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. Weiss Ratings cut Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Barclays lifted their price target on shares of Phillips 66 from $177.00 to $183.00 and gave the stock an “equal weight” rating in a research note on Thursday. Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Finally, Mizuho raised shares of Phillips 66 from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $170.00 to $212.00 in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $193.94.

Phillips 66 Price Performance

Shares of PSX stock traded down $1.23 during trading hours on Friday, hitting $188.59. The company had a trading volume of 2,663,901 shares, compared to its average volume of 2,770,676. Phillips 66 has a 12 month low of $118.07 and a 12 month high of $193.04. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. The firm’s fifty day moving average is $176.38 and its 200 day moving average is $162.96. The firm has a market capitalization of $75.61 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 0.26 and a beta of 0.69.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping the consensus estimate of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. During the same quarter last year, the company earned ($0.90) EPS. Phillips 66’s revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts predict that Phillips 66 will post 19.3 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s payout ratio is currently 50.05%.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 600 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $171.56, for a total value of $102,936.00. Following the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at approximately $16,705,826.56. This represents a 0.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kevin Omar Meyers bought 175 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were purchased at an average price of $173.12 per share, with a total value of $30,296.00. Following the transaction, the director directly owned 16,799 shares in the company, valued at $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.40% of the stock is currently owned by insiders.

Phillips 66 News Summary

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

• Positive Sentiment: Phillips 66 announced a quarterly dividend of $1.27 per share, reinforcing its income appeal for investors and signaling continued shareholder returns. Phillips 66 Announces Quarterly Dividend
• Positive Sentiment: Recent commentary noted that higher crude prices and renewed Middle East tensions could support refining margins and help Phillips 66, since the company can benefit when fuel spreads remain favorable. What Do Renewed Middle East Tensions Mean for Phillips 66’s Business?
• Positive Sentiment: Analysts highlighted Phillips 66 as a momentum name, and the stock has been outperforming broader market moves, which can attract additional buying interest. Why Phillips 66 (PSX) is a top momentum stock for the long term
• Neutral Sentiment: Barclays raised its price target on Phillips 66 to $183 from $177 but kept an equal-weight rating, suggesting a modestly cautious stance rather than a strong bullish call. Phillips 66 (NYSE:PSX) Given New $183.00 Price Target at Barclays
• Neutral Sentiment: Coverage also focused on analysts’ views and dividend-related news, which supports investor attention but does not materially change the company’s operating outlook by itself. Analysts Offer Insights on Energy Companies: Exxon Mobil (XOM) and Phillips 66 (PSX)
• Negative Sentiment: One market update said Phillips 66 was set to snap a six-session winning streak, indicating some near-term cooling after the recent rally. Phillips 66 set to snap six straight sessions of gains

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.