Phillips 66 $PSX Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. lowered its stake in shares of Phillips 66 (NYSE:PSX) by 17.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 79,109 shares of the oil and gas company’s stock after selling 17,142 shares during the period. D.A. Davidson & CO.’s holdings in Phillips 66 were worth $20,198,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. BOKF NA increased its holdings in shares of Phillips 66 by 23.2% in the third quarter. BOKF NA now owns 119,678 shares of the oil and gas company’s stock valued at $30,555,000 after purchasing an additional 22,519 shares during the period. North Dakota State Investment Board raised its stake in shares of Phillips 66 by 2.5% during the third quarter. North Dakota State Investment Board now owns 12,279 shares of the oil and gas company’s stock worth $3,135,000 after purchasing an additional 296 shares during the last quarter. VestGen Advisors LLC lifted its holdings in shares of Phillips 66 by 459.7% during the third quarter. VestGen Advisors LLC now owns 44,987 shares of the oil and gas company’s stock worth $11,486,000 after purchasing an additional 36,950 shares during the period. AMI Investment Management Inc. lifted its holdings in shares of Phillips 66 by 3.1% during the third quarter. AMI Investment Management Inc. now owns 1,752 shares of the oil and gas company’s stock worth $447,000 after purchasing an additional 53 shares during the period. Finally, Generali Asset Management SPA SGR lifted its holdings in shares of Phillips 66 by 2.6% during the third quarter. Generali Asset Management SPA SGR now owns 49,692 shares of the oil and gas company’s stock worth $12,687,000 after purchasing an additional 1,274 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Down 0.1%

Shares of PSX opened at $273.48 on Friday. Phillips 66 has a twelve month low of $127.16 and a twelve month high of $299.39. The firm has a market capitalization of $109.12 billion, a P/E ratio of 8.73, a PEG ratio of 0.16 and a beta of 0.71. The firm’s 50-day moving average is $265.31 and its two-hundred day moving average is $197.79. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, October 28th. The oil and gas company reported $14.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.73 by $2.35. Phillips 66 had a return on equity of 34.36% and a net margin of 7.27%. The firm had revenue of $50.54 billion during the quarter, compared to analysts’ expectations of $44.91 billion. During the same period in the previous year, the firm posted $2.52 earnings per share. On average, research analysts predict that Phillips 66 will post 31.39 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 17th will be given a dividend of $1.33 per share. The ex-dividend date is Tuesday, November 17th. This represents a $5.32 annualized dividend and a dividend yield of 1.9%. This is an increase from Phillips 66’s previous quarterly dividend of $1.27. Phillips 66’s payout ratio is presently 28.95%.

Phillips 66 declared that its Board of Directors has initiated a stock repurchase plan on Friday, July 31st that permits the company to buy back $10 billion in outstanding shares. This buyback authorization permits the oil and gas company to purchase up to 11.8% of its shares through open market purchases. Share buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms recently weighed in on PSX. Weiss Ratings upgraded shares of Phillips 66 from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Piper Sandler upped their price objective on shares of Phillips 66 from $264.00 to $268.00 and gave the stock a “neutral” rating in a research report on Thursday. The Goldman Sachs Group upped their price objective on shares of Phillips 66 from $245.00 to $274.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 30th. UBS Group raised their target price on shares of Phillips 66 from $235.00 to $300.00 and gave the stock a “buy” rating in a research note on Tuesday, September 8th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $276.00 target price on shares of Phillips 66 in a report on Sunday, October 11th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $270.19.

More Phillips 66 News

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

• Positive Sentiment: Record earnings and a major estimate beat: Adjusted EPS surged 458% year over year to $14.08, well above consensus estimates near $11.73–$11.97. Revenue reached approximately $51.5 billion, while net income totaled $5.6 billion. Results benefited from 98% refinery utilization, record distillate yields and sharply higher refining margins. Phillips 66 beats quarterly profit estimates as refining margins soar
• Positive Sentiment: Capital returns and balance-sheet improvement support the investment case: Phillips 66 raised its quarterly dividend to $1.33 per share, returned $2.8 billion through dividends and repurchases, and reduced total debt by roughly $2 billion to $18.5 billion. Management also highlighted strong midstream volumes and long-term pipeline investments, including the Western Gateway system. Learn Why The Bull Case For Phillips 66 Stock Could Change Following Earnings Beat
• Neutral Sentiment: Valuation remains a key debate: After a roughly 316% five-year advance and substantial recent gains, some investors view PSX as potentially undervalued relative to its earnings power, while others question whether the current share price already reflects peak profitability. Piper Sandler raised its price target to $268 but maintained a neutral rating, implying limited upside based on its model.
• Negative Sentiment: Cyclical and sentiment risks are limiting enthusiasm: The quarter’s exceptional performance was driven heavily by refining margins linked to supply disruptions and geopolitical tensions, which may not persist. Refining stocks have recently sold off despite strong earnings, and rising short interest suggests traders are positioning for weaker margins ahead. Continued insider selling and recent volatility add further caution. Phillips 66 Posts Strong Earnings But the Stock Doesn’t Care

Insiders Place Their Bets

In related news, EVP Brian Mandell sold 30,000 shares of the stock in a transaction on 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 sale, the executive vice president owned 61,595 shares of the company’s stock, valued at $13,242,925. This trade represents a 32.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the executive vice president owned 39,094 shares of the company’s stock, valued at approximately $8,747,673.44. This represents a 57.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 108,800 shares of company stock valued at $25,016,566. Insiders own 0.40% of the company’s stock.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an energy manufacturing and logistics company headquartered in Houston, Texas. The company was established in 2012 following the separation of ConocoPhillips’ downstream and midstream businesses.

Phillips 66 operates across midstream, chemicals, refining and marketing. Its midstream activities include gathering, processing, transporting and storing crude oil, natural gas and natural gas liquids. Through its refining operations, the company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, lubricants and other refined petroleum products.

The company markets fuel and related products under the Phillips 66, 76 and Conoco brands, serving retail, commercial, aviation and industrial customers.