Worth Financial Advisory Group LLC Buys Shares of 5,085 Phillips 66 $PSX

Worth Financial Advisory Group LLC purchased a new position in Phillips 66 (NYSE:PSX) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,085 shares of the oil and gas company’s stock, valued at approximately $860,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PSX. Brighton Jones LLC raised its stake in shares of Phillips 66 by 238.5% during the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after purchasing an additional 7,214 shares in the last quarter. Woodline Partners LP raised its position in Phillips 66 by 40.7% during the first quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock valued at $4,308,000 after acquiring an additional 10,089 shares in the last quarter. Sei Investments Co. lifted its stake in Phillips 66 by 28.3% in the second quarter. Sei Investments Co. now owns 157,455 shares of the oil and gas company’s stock valued at $18,788,000 after acquiring an additional 34,698 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Phillips 66 by 9.1% in the second quarter. The Manufacturers Life Insurance Company now owns 346,679 shares of the oil and gas company’s stock worth $41,359,000 after acquiring an additional 28,988 shares in the last quarter. Finally, Glenview Trust co increased its stake in shares of Phillips 66 by 2.6% during the 2nd quarter. Glenview Trust co now owns 8,949 shares of the oil and gas company’s stock worth $1,068,000 after purchasing an additional 229 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Richard G. Harbison sold 52,100 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $223.76, for a total value of $11,657,896.00. Following the completion of the transaction, the executive vice president owned 39,094 shares of the company’s stock, valued at $8,747,673.44. This represents a 57.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Brian Mandell sold 30,000 shares of the firm’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 completion of the sale, the executive vice president owned 61,595 shares of the company’s stock, valued at $13,242,925. This represents a 32.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 100,507 shares of company stock valued at $21,770,810. 0.40% of the stock is currently owned by insiders.

Phillips 66 Stock Up 0.3%

PSX opened at $233.29 on Friday. The business has a 50 day moving average of $192.72 and a 200-day moving average of $175.95. The stock has a market capitalization of $93.09 billion, a price-to-earnings ratio of 13.29, a P/E/G ratio of 0.17 and a beta of 0.68. 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 1-year low of $121.24 and a 1-year high of $236.14.

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, beating the consensus estimate of $7.50 by $1.91. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. The firm had revenue of $52.04 billion during the quarter, compared to analysts’ expectations of $43.60 billion. During the same period in the prior year, the company earned $2.38 EPS. As a group, sell-side analysts anticipate that Phillips 66 will post 24.44 earnings per share for the current year.

Phillips 66 announced that its board has authorized a share buyback plan on Friday, July 31st that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to buy up to 11.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors 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 dividend on an annualized basis and a yield of 2.2%. Phillips 66’s dividend payout ratio (DPR) is 28.95%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PSX. Barclays upped their price objective on shares of Phillips 66 from $183.00 to $216.00 and gave the stock an “equal weight” rating in a report on Thursday, August 6th. TD Cowen increased their price objective on Phillips 66 from $240.00 to $255.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Argus raised their price objective on Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Tudor Pickering raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Finally, Scotiabank lifted their price target on shares of Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $206.56.

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

Phillips 66 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.