Pacer Advisors Inc. Has $3.67 Million Stock Holdings in Phillips 66 $PSX

Pacer Advisors Inc. trimmed its holdings in Phillips 66 (NYSE:PSX) by 50.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 20,173 shares of the oil and gas company’s stock after selling 20,685 shares during the quarter. Pacer Advisors Inc.’s holdings in Phillips 66 were worth $3,675,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. DV Trading LLC bought a new stake in Phillips 66 during the 1st quarter worth about $237,000. Parallel Advisors LLC raised its stake in shares of Phillips 66 by 4.5% in the first quarter. Parallel Advisors LLC now owns 11,037 shares of the oil and gas company’s stock worth $2,011,000 after acquiring an additional 480 shares during the last quarter. First Nebraska Trust Co bought a new position in shares of Phillips 66 in the first quarter worth about $3,606,000. Cozad Asset Management Inc. lifted its position in shares of Phillips 66 by 92.9% during the first quarter. Cozad Asset Management Inc. now owns 7,143 shares of the oil and gas company’s stock worth $1,301,000 after purchasing an additional 3,440 shares in the last quarter. Finally, Carlson Capital L.P. grew its stake in shares of Phillips 66 by 256.3% during the first quarter. Carlson Capital L.P. now owns 11,757 shares of the oil and gas company’s stock valued at $2,142,000 after purchasing an additional 8,457 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Key Headlines Impacting Phillips 66

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

• Positive Sentiment: Strong refining performance: More than doubled refining margins, improved execution and tight product supplies drove the earnings surge. Phillips 66 expects refining utilization in the mid-90% range during the third quarter and believes favorable market conditions could persist through 2027. Phillips 66 Profit Jumps as Refining Margins More Than Double
• Positive Sentiment: Broader operational gains: Record midstream volumes, stronger chemicals results and improved marketing performance supplemented the refining gains, reducing reliance on a single business line. PSX Q2 Earnings and Revenues Beat Estimates
• Positive Sentiment: Capital returns and balance-sheet improvement: Phillips 66 reduced debt by $6.6 billion and expanded its stock-repurchase authorization by $10 billion, potentially supporting per-share value and investor confidence. Phillips 66 Cashes in on Refining Boom
• Positive Sentiment: Higher analyst valuation: TD Cowen maintained a Buy rating and lifted its price target from $240 to $255, citing stronger fundamentals, balance-sheet progress and enhanced capital returns. Aggregate fair value estimates also rose to about $207.53 from $194.11. TD Cowen Raises Phillips 66 Price Target
• Neutral Sentiment: U.S. oil imports from Saudi Arabia fell to zero in July, an event that underscores shifting supply flows and may contribute to regional product tightness, but its direct effect on PSX remains uncertain. U.S. Oil Imports from Saudi Arabia at Zero in July
• Negative Sentiment: Valuation is becoming a concern after the rally: Bank of America reiterated a Hold rating with a $213 target, arguing that strong execution is largely reflected in the shares. Refining margins are also cyclical and could weaken if supply conditions normalize. Phillips 66 Neutral Rating Reiterated

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PSX shares. Guggenheim raised shares of Phillips 66 to an “outperform” rating in a report on Wednesday, May 27th. Argus upped their price objective on Phillips 66 from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Zacks Research lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Scotiabank lifted their target price on Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Finally, Wall Street Zen raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 26th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $206.50.

Insider Activity

In other Phillips 66 news, CFO Kevin J. Mitchell sold 11,021 shares of the firm’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the transaction, the chief financial officer owned 97,376 shares in the company, valued at approximately $18,504,361.28. This trade represents a 10.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Vanessa Allen Sutherland sold 3,523 shares of the business’s stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $211.05, for a total value of $743,529.15. Following the transaction, the executive vice president owned 27,537 shares of the company’s stock, valued at $5,811,683.85. The trade was a 11.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 15,707 shares of company stock worth $3,059,584 in the last three months. Insiders own 0.40% of the company’s stock.

Phillips 66 Trading Up 1.2%

Shares of NYSE PSX opened at $205.02 on Friday. Phillips 66 has a fifty-two week low of $118.07 and a fifty-two week high of $216.08. The firm has a market capitalization of $82.20 billion, a P/E ratio of 11.68, a P/E/G ratio of 0.16 and a beta of 0.68. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The company’s 50 day simple moving average is $187.83 and its 200 day simple moving average is $172.73.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, topping analysts’ consensus estimates of $7.50 by $1.91. The firm had revenue of $52.04 billion during the quarter, compared to analyst estimates of $43.60 billion. Phillips 66 had a net margin of 4.54% and a return on equity of 20.51%. During the same quarter in the previous year, the business earned $2.38 EPS. On average, analysts predict that Phillips 66 will post 22.43 EPS for the current year.

Phillips 66 Announces Dividend

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

Phillips 66 declared 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 repurchase up to 11.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

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.