Convergence Investment Partners LLC Has $7.35 Million Stock Position in Phillips 66 $PSX

Convergence Investment Partners LLC lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 27.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,453 shares of the oil and gas company’s stock after buying an additional 9,415 shares during the period. Convergence Investment Partners LLC’s holdings in Phillips 66 were worth $7,346,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. NFSG Corp grew its position in Phillips 66 by 105.6% in the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 75 shares during the last quarter. Axiom Investment Management LLC acquired a new position in Phillips 66 during the first quarter worth about $27,000. SWAN Capital LLC lifted its holdings in shares of Phillips 66 by 1,055.6% in the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 190 shares during the last quarter. Agman Capital LLC lifted its holdings in shares of Phillips 66 by 832.1% in the second quarter. Agman Capital LLC now owns 183,634 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 163,932 shares during the last quarter. Finally, Sfam LLC acquired a new stake in shares of Phillips 66 in the 4th quarter valued at approximately $34,000. 76.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Phillips 66

In related news, EVP Richard G. Harbison sold 52,100 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $223.76, for a total value of $11,657,896.00. Following the sale, the executive vice president owned 39,094 shares of the company’s stock, valued at $8,747,673.44. The trade was a 57.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Brian Mandell sold 30,000 shares of the stock in a transaction on 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 completion of 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. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 100,507 shares of company stock valued at $21,770,810. Insiders own 0.40% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX opened at $233.29 on Friday. The stock’s 50-day moving average is $192.72 and its 200-day moving average is $175.95. Phillips 66 has a 1-year low of $121.24 and a 1-year high of $236.14. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57. The stock has a market cap of $93.09 billion, a P/E ratio of 13.29, a price-to-earnings-growth ratio of 0.17 and a beta of 0.68.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data 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 net margin of 4.54% and a return on equity of 19.93%. The business had revenue of $52.04 billion during the quarter, compared to analyst estimates of $43.60 billion. During the same quarter last year, the business earned $2.38 EPS. Equities research analysts anticipate that Phillips 66 will post 24.44 earnings per share for the current year.

Phillips 66 announced that its board has approved a share repurchase plan on Friday, July 31st that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to buy up to 11.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Phillips 66 Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Piper Sandler lifted their price target on shares of Phillips 66 from $208.00 to $209.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Guggenheim raised shares of Phillips 66 to an “outperform” rating in a research note on Wednesday, May 27th. Mizuho upgraded shares of Phillips 66 from a “neutral” rating to an “outperform” rating and raised their target price for the company from $170.00 to $212.00 in a research report on Wednesday, May 27th. The Goldman Sachs Group boosted their target price on shares of Phillips 66 from $207.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Finally, Zacks Research downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average price target of $206.56.

Key Phillips 66 News

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

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.