Phillips 66 $PSX Stock Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lessened its position in Phillips 66 (NYSE:PSX) by 25.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,491 shares of the oil and gas company’s stock after selling 2,542 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Phillips 66 were worth $1,913,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Phillips 66 during the second quarter worth approximately $5,766,779,000. State Street Corp raised its stake in Phillips 66 by 1.1% in the 2nd quarter. State Street Corp now owns 26,044,694 shares of the oil and gas company’s stock valued at $4,402,856,000 after purchasing an additional 271,841 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Phillips 66 in the 2nd quarter valued at $1,093,206,000. Amundi raised its stake in Phillips 66 by 62.0% in the 1st quarter. Amundi now owns 3,667,451 shares of the oil and gas company’s stock valued at $668,137,000 after purchasing an additional 1,403,493 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in Phillips 66 by 1.2% in the 1st quarter. Bank of America Corp DE now owns 2,971,036 shares of the oil and gas company’s stock valued at $541,263,000 after purchasing an additional 35,167 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $267.57 on Wednesday. The stock has a market cap of $106.77 billion, a P/E ratio of 15.25 and a beta of 0.71. The stock’s 50 day simple moving average is $264.09 and its 200-day simple moving average is $196.48. Phillips 66 has a 1-year low of $127.16 and a 1-year high of $299.39.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.50 by $1.91. The company had revenue of $51 billion during the quarter, compared to analysts’ expectations of $43.60 billion. During the same quarter last year, the company earned $2.38 earnings per share. As a group, research analysts expect that Phillips 66 will post 31.39 EPS for the current fiscal year.

Phillips 66 declared that its Board of Directors has authorized a stock repurchase plan on Friday, July 31st that permits the company to buy back $10 billion in outstanding shares. This buyback authorization permits the oil and gas company to reacquire up to 11.8% of its stock through open market purchases. Share buyback plans are often an indication that the company’s management believes its shares are undervalued.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 17th will be given a dividend of $1.33 per share. The ex-dividend date is Tuesday, November 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.27. This represents a $5.32 dividend on an annualized basis and a yield of 2.0%. Phillips 66’s dividend payout ratio (DPR) is 30.31%.

Insiders Place Their Bets

In other Phillips 66 news, EVP Richard G. Harbison sold 52,100 shares of the firm’s stock in a transaction 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 sale, the executive vice president directly owned 39,094 shares of the company’s stock, valued at $8,747,673.44. This trade represents a 57.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brian Mandell sold 30,000 shares of the firm’s stock in a transaction 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 directly owned 61,595 shares of the company’s stock, valued at $13,242,925. This trade represents a 32.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 108,800 shares of company stock worth $25,016,566 in the last three months. 0.40% of the stock is currently owned by corporate insiders.

More Phillips 66 News

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

• Positive Sentiment: Analysts expect a significant year-over-year improvement in third-quarter results, with consensus estimates calling for approximately $11.79 in earnings per share and $43.23 billion in revenue, compared with $2.52 EPS in the prior-year quarter. How to Earn $500 a Month From Phillips 66 Stock Ahead of Q3 Earnings
• Positive Sentiment: Strong refining margins, supported by constrained global capacity and resilient fuel demand, remain the central bullish argument. Phillips 66’s ability to process a flexible crude slate and use discounted heavy crude could further support profitability; the company estimates that each $1 widening in the WTI-WCS spread can add about $140 million to annual EBITDA. How PSX’s Flexible Crude Slate Supports Its Refining Economics
• Positive Sentiment: Phillips 66 recently approved its second dividend increase of 2026, lifting the quarterly payout 4.7% to $1.33. The increase, combined with strong expected earnings and a relatively low payout ratio, reinforces the income and cash-flow case for the stock. Phillips 66 Dividend Information
• Neutral Sentiment: Zacks included PSX among its preferred refining and marketing stocks because of strong industry profit margins, while institutional trading was mixed, with more investors adding shares than reducing positions in the latest reported quarter. Top Refining and Marketing Picks
• Negative Sentiment: Gasoline futures fell to a seven-week low, raising concerns that fuel-market tightness and refining margins could moderate from unusually high levels. Traders may also be locking in gains after PSX’s powerful advance. Phillips 66 Slides as Traders Reassess Refining Upside Ahead of Earnings
• Negative Sentiment: A recent brokerage downgrade argued that much of the refining-sector earnings improvement is already reflected in share prices and that additional policy support may be limited. Reported insider activity has also been weighted heavily toward sales, adding to investor caution.
• Negative Sentiment: Several analyst price targets cited in recent coverage are below the current market valuation, suggesting expectations for a pullback if Wednesday’s results do not clearly exceed forecasts. Phillips 66 Price Swing

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Raymond James Financial restated an “outperform” rating and issued a $335.00 price objective on shares of Phillips 66 in a report on Monday, October 19th. Wall Street Zen raised shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 26th. Citigroup upped their target price on shares of Phillips 66 from $217.00 to $297.00 and gave the stock a “neutral” rating in a report on Tuesday, October 13th. Weiss Ratings upgraded shares of Phillips 66 from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Finally, Morgan Stanley raised their price target on shares of Phillips 66 from $196.00 to $284.00 and gave the stock an “overweight” rating in a research note on Monday, September 14th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $269.88.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an energy manufacturing and logistics company headquartered in Houston, Texas. The company was established in 2012 following the separation of ConocoPhillips’ downstream and midstream businesses.

Phillips 66 operates across midstream, chemicals, refining and marketing. Its midstream activities include gathering, processing, transporting and storing crude oil, natural gas and natural gas liquids. Through its refining operations, the company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, lubricants and other refined petroleum products.

The company markets fuel and related products under the Phillips 66, 76 and Conoco brands, serving retail, commercial, aviation and industrial customers.