NewEdge Advisors LLC Trims Stock Holdings in Phillips 66 $PSX

NewEdge Advisors LLC trimmed its holdings in Phillips 66 (NYSE:PSX) by 17.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 824,364 shares of the oil and gas company’s stock after selling 172,591 shares during the quarter. NewEdge Advisors LLC owned about 0.21% of Phillips 66 worth $150,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in PSX. Clifford Group LLC boosted its holdings in Phillips 66 by 2.0% in the fourth quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock worth $428,000 after acquiring an additional 64 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Phillips 66 by 0.8% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 8,255 shares of the oil and gas company’s stock worth $1,504,000 after purchasing an additional 65 shares during the last quarter. CYBER HORNET ETFs LLC raised its position in shares of Phillips 66 by 5.7% in the 4th quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company’s stock worth $158,000 after purchasing an additional 66 shares during the last quarter. GHP Investment Advisors Inc. boosted its stake in Phillips 66 by 2.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock worth $414,000 after purchasing an additional 72 shares in the last quarter. Finally, Johnson Financial Group Inc. grew its position in Phillips 66 by 11.9% during the 4th quarter. Johnson Financial Group Inc. now owns 679 shares of the oil and gas company’s stock valued at $88,000 after purchasing an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 29,400 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $170.00, for a total value of $4,998,000.00. Following the transaction, the chief financial officer owned 97,376 shares of the company’s stock, valued at approximately $16,553,920. This trade represents a 23.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Vanessa Allen Sutherland sold 3,523 shares of the business’s 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 sale, the executive vice president owned 27,537 shares of the company’s stock, valued at $5,811,683.85. This trade represents a 11.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 45,107 shares of company stock worth $8,057,584 in the last quarter. Company insiders own 0.40% of the company’s stock.

Key Phillips 66 News

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

• Positive Sentiment: Phillips 66 earned $9.41 per share, well above analyst estimates of approximately $7.50–$7.68 and up sharply from $2.38 a year earlier. Revenue also exceeded expectations, supported by wider refining margins, stronger chemicals results and record midstream volumes. Phillips 66 Beats Q2 Earnings and Revenue Estimates
• Positive Sentiment: The company reduced debt by $6.6 billion and approved a $10 billion expansion of its share-repurchase authorization. The buyback signals confidence in cash generation and could support per-share earnings and shareholder returns. Phillips 66 Cashes In on Refining Boom
• Positive Sentiment: Management plans to operate its refineries at roughly the mid-90% capacity range in the third quarter, indicating confidence in demand and operating conditions. Midstream growth and improved chemicals performance provide additional earnings support beyond refining. Phillips 66 Plans Refineries to Run at Mid-90% Capacity
• Neutral Sentiment: Refining profitability benefited from supply disruptions connected to the Middle East, which widened fuel spreads. While favorable for near-term results, investors may view these gains as cyclical and difficult to sustain if global supply conditions normalize.
• Negative Sentiment: PSX is trading near its 12-month high after a significant rally, increasing the risk of profit-taking following the earnings release. Recent insider activity has also been weighted toward sales, although such transactions may reflect routine diversification rather than a change in business outlook.

Analyst Ratings Changes

A number of research firms have weighed in on PSX. The Goldman Sachs Group raised their price objective on shares of Phillips 66 from $207.00 to $235.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. BMO Capital Markets increased their price target on shares of Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Guggenheim raised shares of Phillips 66 to an “outperform” rating in a research report on Wednesday, May 27th. Morgan Stanley boosted their price objective on shares of Phillips 66 from $180.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Finally, Jefferies Financial Group upped their price objective on Phillips 66 from $191.00 to $207.00 and gave the company a “hold” rating in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $201.72.

Phillips 66 Stock Performance

Shares of PSX opened at $202.20 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. Phillips 66 has a one year low of $118.07 and a one year high of $216.08. The firm has a market capitalization of $81.07 billion, a P/E ratio of 19.92, a PEG ratio of 0.16 and a beta of 0.68. The business has a fifty day moving average of $187.27 and a 200 day moving average of $172.26.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share for the quarter, beating analysts’ consensus estimates of $7.50 by $1.91. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company had revenue of $52.04 billion for the quarter, compared to the consensus estimate of $43.60 billion. During the same quarter in the prior year, the company earned $2.38 earnings per share. As a group, sell-side analysts anticipate that Phillips 66 will post 22.43 EPS for the current year.

Phillips 66 declared that its Board of Directors has approved a share buyback program 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 repurchase up to 11.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given 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 dividend payout ratio is presently 50.05%.

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.