Kevin Omar Meyers Acquires 175 Shares of Phillips 66 (NYSE:PSX) Stock

Phillips 66 (NYSE:PSX) Director Kevin Omar Meyers purchased 175 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was acquired at an average price of $173.20 per share, with a total value of $30,310.00. Following the purchase, the director directly owned 16,624 shares in the company, valued at $2,879,276.80. This represents a 1.06% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Phillips 66 Price Performance

Shares of NYSE:PSX traded down $0.65 during midday trading on Tuesday, reaching $172.83. 3,685,150 shares of the company were exchanged, compared to its average volume of 2,884,387. The stock has a market cap of $69.26 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 0.60 and a beta of 0.86. The business’s fifty day moving average is $152.11 and its two-hundred day moving average is $140.46. Phillips 66 has a one year low of $91.01 and a one year high of $178.38. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.15 by $0.32. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. The business had revenue of $32.16 billion during the quarter, compared to the consensus estimate of $33.81 billion. During the same quarter in the prior year, the firm earned ($0.15) EPS. As a group, analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were issued a dividend of $1.27 per share. The ex-dividend date was Monday, February 23rd. This represents a $5.08 annualized dividend and a yield of 2.9%. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s dividend payout ratio (DPR) is 46.95%.

Hedge Funds Weigh In On Phillips 66

Several institutional investors have recently bought and sold shares of PSX. Vanguard Group Inc. grew its stake in Phillips 66 by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company’s stock valued at $6,701,052,000 after purchasing an additional 205,480 shares during the last quarter. State Street Corp boosted its stake in Phillips 66 by 0.8% in the fourth quarter. State Street Corp now owns 23,589,550 shares of the oil and gas company’s stock valued at $3,043,996,000 after acquiring an additional 175,616 shares in the last quarter. Elliott Investment Management L.P. grew its holdings in Phillips 66 by 22.4% in the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock worth $2,296,644,000 after purchasing an additional 3,526,000 shares during the last quarter. Geode Capital Management LLC grew its holdings in Phillips 66 by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company’s stock worth $1,338,596,000 after purchasing an additional 45,340 shares during the last quarter. Finally, Norges Bank purchased a new position in Phillips 66 during the 4th quarter worth $640,206,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Phillips 66

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

• Positive Sentiment: Jefferies upgraded PSX from “hold” to “strong-buy,” a bullish analyst move that can support upside momentum and attract buyer interest. Read More.
• Positive Sentiment: Goldman Sachs raised its price target to $186 (from $168) while keeping a Neutral rating — the higher target signals improved analyst expectations for fundamentals or refining/midstream margins. Read More.
• Positive Sentiment: Phillips 66 recently raised its quarterly dividend to $1.27 (from $1.20), supporting income-focused demand and underpinning part of the stock’s valuation. Read More.
• Neutral Sentiment: The company presented at the Piper Sandler 26th Annual Energy Conference; the Seeking Alpha transcript is available for investors to review management commentary and Q&A but contained no immediate market-moving surprises. Read More.
• Neutral Sentiment: Mizuho raised its price target to $170 but kept a “neutral” rating, implying limited near-term upside from that firm’s view. Read More.
• Negative Sentiment: Insider selling: Director Lisa Ann Davis sold 3,800 shares (~$662.6k), trimming her stake by ~30%, which can raise short-term investor concern about insider conviction. Read More.
• Negative Sentiment: Large executive sale: EVP Brian Mandell sold 42,800 shares (~$7.26M), a ~41% reduction in his holdings — a sizable disposal that may weigh on sentiment despite possible non-fundamental reasons for the trade (taxes, diversification, etc.). Read More.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of analyst reports. Citigroup lifted their price target on Phillips 66 from $146.00 to $159.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. TD Cowen reissued a “buy” rating on shares of Phillips 66 in a research note on Friday, February 6th. Zacks Research lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Morgan Stanley increased their price target on Phillips 66 from $140.00 to $147.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. Finally, Jefferies Financial Group upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $162.33.

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.