Thurston Springer Miller Herd & Titak Inc. Sells 4,255 Shares of Phillips 66 $PSX

Thurston Springer Miller Herd & Titak Inc. cut its stake in Phillips 66 (NYSE:PSX) by 55.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 3,369 shares of the oil and gas company’s stock after selling 4,255 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Phillips 66 were worth $570,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Eldred Rock Partners LLC grew its holdings in shares of Phillips 66 by 6.5% during the 2nd quarter. Eldred Rock Partners LLC now owns 97,837 shares of the oil and gas company’s stock worth $16,539,000 after purchasing an additional 6,003 shares in the last quarter. LifeGoal Investments LLC increased its position in shares of Phillips 66 by 34.9% in the second quarter. LifeGoal Investments LLC now owns 1,586 shares of the oil and gas company’s stock worth $268,000 after purchasing an additional 410 shares during the period. Cooper Financial Group raised its stake in Phillips 66 by 21.6% in the second quarter. Cooper Financial Group now owns 2,551 shares of the oil and gas company’s stock valued at $431,000 after purchasing an additional 453 shares in the last quarter. Threadgill Financial LLC raised its stake in Phillips 66 by 3.5% in the second quarter. Threadgill Financial LLC now owns 1,693 shares of the oil and gas company’s stock valued at $286,000 after purchasing an additional 58 shares in the last quarter. Finally, Czech National Bank lifted its position in Phillips 66 by 4.0% during the second quarter. Czech National Bank now owns 114,121 shares of the oil and gas company’s stock worth $19,292,000 after purchasing an additional 4,387 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PSX shares. TD Cowen increased their price objective on shares of Phillips 66 from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays boosted their target price on shares of Phillips 66 from $183.00 to $216.00 and gave the company an “equal weight” rating in a research report on Thursday. Piper Sandler reaffirmed a “neutral” rating and set a $208.00 price target on shares of Phillips 66 in a report on Thursday, July 23rd. Morgan Stanley increased their price target on shares of Phillips 66 from $180.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Finally, Zacks Research cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. One research 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 stock. According to data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average target price of $206.50.

Insider Buying and Selling

In related news, CFO Kevin J. Mitchell sold 11,021 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $190.03, for a total value of $2,094,320.63. Following the completion of the transaction, the chief financial officer owned 97,376 shares of the company’s stock, valued at $18,504,361.28. This represents a 10.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Vanessa Allen Sutherland sold 3,523 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $5,811,683.85. The trade was a 11.34% decrease in their position. 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 have sold 15,707 shares of company stock valued at $3,059,584. 0.40% of the stock is owned by corporate insiders.

Phillips 66 Stock Performance

NYSE:PSX opened at $204.05 on Friday. Phillips 66 has a twelve month low of $118.07 and a twelve month high of $216.08. The company has a quick ratio of 0.85, a current ratio of 1.32 and a debt-to-equity ratio of 0.57. The stock’s 50-day simple moving average is $188.40 and its 200 day simple moving average is $172.95. The firm has a market capitalization of $81.42 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 0.16 and a beta of 0.68.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, topping the consensus estimate of $7.50 by $1.91. The firm had revenue of $52.04 billion during the quarter, compared to the consensus estimate 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 previous year, the firm earned $2.38 earnings per share. On average, analysts anticipate that Phillips 66 will post 23.01 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be issued a dividend of $1.27 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.5%. Phillips 66’s payout ratio is 28.95%.

Phillips 66 announced that its Board of Directors has authorized a share repurchase program on Friday, July 31st that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to reacquire up to 11.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Phillips 66 News Summary

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

• Positive Sentiment: Record earnings and broad-based operating improvement: Second-quarter adjusted earnings reached approximately $3.8 billion, with net profit rising sharply as refining margins more than doubled. Refining, midstream, chemicals and marketing all contributed, while stronger execution helped the company exceed earnings expectations. Phillips 66 Profit Jumps as Refining Margins More Than Double
• Positive Sentiment: Favorable refining outlook: Management said tight product supply and limited refining capacity could keep margins strong through 2027, extending the period of elevated profitability. Phillips 66 sees strong refining margins continuing through 2027
• Positive Sentiment: Balance-sheet and shareholder-return catalysts: Debt reduction, midstream growth and potential for enhanced capital returns are improving the investment case. TD Cowen maintained a Buy rating and raised its price target to $255 from $240, citing stronger fundamentals and a healthier balance sheet. TD Cowen raises Phillips 66 price target
• Neutral Sentiment: Analyst sentiment is positive but not unanimous: Brokerages collectively rate PSX a “Moderate Buy,” while a fair-value estimate increased to $207.53. However, Bank of America reiterated a Hold rating with a $213 target, indicating some analysts view much of the upside as already reflected. Phillips 66 receives Moderate Buy recommendation
• Negative Sentiment: Cyclical and valuation risks remain: The stock is near its 12-month high after a substantial rally, leaving investors concerned that refining margins may normalize and that current earnings could represent a peak. That caution may be limiting further gains despite the upbeat results.

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.