Insider Selling: Phillips 66 (NYSE:PSX) EVP Sells $6,450,000.00 in Stock

Phillips 66 (NYSE:PSX) EVP Brian Mandell sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $215.00, for a total value of $6,450,000.00. Following the sale, the executive vice president owned 61,595 shares of the company’s stock, valued at approximately $13,242,925. The trade was a 32.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Brian Mandell also recently made the following trade(s):

• On Monday, August 10th, Brian Mandell sold 3,300 shares of Phillips 66 stock. The shares were sold at an average price of $214.02, for a total transaction of $706,266.00.

Phillips 66 Stock Up 0.3%

PSX stock opened at $233.29 on Friday. 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 has a twelve month low of $121.24 and a twelve month high of $236.14. The company’s 50 day moving average is $192.72 and its two-hundred day moving average is $175.95. The stock has a market cap of $93.09 billion, a P/E ratio of 13.29, a PEG ratio of 0.17 and a beta of 0.68.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.50 by $1.91. The business had revenue of $52.04 billion during the quarter, compared to analysts’ expectations of $43.60 billion. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. During the same quarter in the prior year, the business posted $2.38 EPS. Research analysts expect that Phillips 66 will post 24.44 earnings per share for the current fiscal year.

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

Phillips 66 Announces Dividend

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

More 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

Analysts Set New Price Targets

PSX has been the subject of several research reports. Weiss Ratings raised Phillips 66 from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday. The Goldman Sachs Group lifted their price target on Phillips 66 from $207.00 to $235.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. increased their price objective on Phillips 66 from $188.00 to $202.00 in a report on Thursday, April 30th. Morgan Stanley raised their target price on shares of Phillips 66 from $180.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Finally, BMO Capital Markets lifted their target price 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. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $206.56.

Hedge Funds Weigh In On Phillips 66

Institutional investors have recently bought and sold shares of the company. Key Client Fiduciary Advisors LLC raised its position in Phillips 66 by 3.5% during the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 1,624 shares of the oil and gas company’s stock worth $275,000 after buying an additional 55 shares during the last quarter. Threadgill Financial LLC boosted its holdings in shares of Phillips 66 by 3.5% in the second quarter. Threadgill Financial LLC now owns 1,693 shares of the oil and gas company’s stock valued at $286,000 after acquiring an additional 58 shares in the last quarter. Calamos Wealth Management LLC increased its stake in shares of Phillips 66 by 2.0% during the second quarter. Calamos Wealth Management LLC now owns 3,084 shares of the oil and gas company’s stock worth $521,000 after acquiring an additional 60 shares during the period. Somerset Trust Co raised its holdings in Phillips 66 by 0.3% during the second quarter. Somerset Trust Co now owns 21,301 shares of the oil and gas company’s stock worth $3,601,000 after purchasing an additional 63 shares in the last quarter. Finally, Clifford Group LLC raised its holdings in Phillips 66 by 2.0% during the fourth quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock worth $428,000 after purchasing an additional 64 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

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.