Phillips 66 $PSX Shares Sold by Linscomb Wealth Inc.

Linscomb Wealth Inc. lowered its holdings in shares of Phillips 66 (NYSE:PSX) by 54.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,012 shares of the oil and gas company’s stock after selling 3,567 shares during the period. Linscomb Wealth Inc.’s holdings in Phillips 66 were worth $509,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PSX. Aberdeen Group plc increased its holdings in shares of Phillips 66 by 4.6% during the second quarter. Aberdeen Group plc now owns 141,926 shares of the oil and gas company’s stock valued at $23,993,000 after purchasing an additional 6,198 shares during the period. New Republic Capital LLC increased its stake in Phillips 66 by 13.4% during the 2nd quarter. New Republic Capital LLC now owns 1,349 shares of the oil and gas company’s stock valued at $228,000 after buying an additional 159 shares during the period. Napier Financial LLC increased its stake in Phillips 66 by 14.4% during the 2nd quarter. Napier Financial LLC now owns 972 shares of the oil and gas company’s stock valued at $164,000 after buying an additional 122 shares during the period. Avail Investment Partners LLC raised its position in shares of Phillips 66 by 41.9% during the 2nd quarter. Avail Investment Partners LLC now owns 3,009 shares of the oil and gas company’s stock worth $509,000 after buying an additional 889 shares in the last quarter. Finally, Calamos Wealth Management LLC lifted its stake in shares of Phillips 66 by 2.0% in the 2nd 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. Institutional investors own 76.93% of the company’s stock.

Key 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

Analyst Ratings Changes

PSX has been the subject of several recent analyst reports. Jefferies Financial Group increased their price objective on shares of Phillips 66 from $191.00 to $207.00 and gave the company a “hold” rating in a report on Thursday, July 9th. Morgan Stanley upped their target price on Phillips 66 from $180.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. JPMorgan Chase & Co. lifted their price target on Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. Argus lifted their target price on Phillips 66 from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, BMO Capital Markets boosted their price target on shares of Phillips 66 from $195.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $206.56.

Phillips 66 Stock Up 0.3%

Shares of Phillips 66 stock opened at $233.29 on Friday. Phillips 66 has a 12-month low of $121.24 and a 12-month high of $236.14. The firm has a market capitalization of $93.09 billion, a PE ratio of 13.29, a price-to-earnings-growth ratio of 0.17 and a beta of 0.68. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.57. The stock’s fifty day moving average is $192.72 and its 200-day moving average is $175.95.

Phillips 66 (NYSE:PSX) last released its quarterly 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. The business had revenue of $52.04 billion during the quarter, compared to analyst estimates of $43.60 billion. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.During the same quarter last year, the company posted $2.38 EPS. Equities analysts anticipate that Phillips 66 will post 24.44 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s dividend payout ratio (DPR) is presently 28.95%.

Phillips 66 declared that its board has authorized a stock repurchase plan on Friday, July 31st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 11.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, EVP Vanessa Allen Sutherland sold 3,523 shares of the firm’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 value of $743,529.15. Following the completion of the transaction, the executive vice president owned 27,537 shares of the company’s stock, valued at approximately $5,811,683.85. This trade represents a 11.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin J. Mitchell sold 11,021 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the sale, the chief financial officer directly 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 100,507 shares of company stock valued at $21,770,810. 0.40% of the stock is currently owned by insiders.

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.