Friedenthal Financial raised its holdings in Phillips 66 (NYSE:PSX – Free Report) by 4,796.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,589 shares of the oil and gas company’s stock after acquiring an additional 7,434 shares during the quarter. Friedenthal Financial’s holdings in Phillips 66 were worth $979,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSX. Brighton Jones LLC boosted its holdings in Phillips 66 by 238.5% during the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after buying an additional 7,214 shares during the last quarter. Woodline Partners LP boosted its holdings 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 worth $4,308,000 after buying an additional 10,089 shares during the last quarter. Sei Investments Co. boosted its holdings in Phillips 66 by 28.3% during the second quarter. Sei Investments Co. now owns 157,455 shares of the oil and gas company’s stock worth $18,788,000 after buying an additional 34,698 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Phillips 66 by 9.1% during 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 buying an additional 28,988 shares during the last quarter. Finally, Glenview Trust co boosted its position in shares of Phillips 66 by 2.6% during the second 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 in the last quarter. Institutional investors own 76.93% of the company’s stock.
Insider Buying and Selling
In other news, EVP Don Baldridge sold 7,500 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total value of $1,200,000.00. Following the sale, the executive vice president directly owned 38,488 shares of the company’s stock, valued at approximately $6,158,080. This represents a 16.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kevin Omar Meyers bought 175 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was purchased at an average cost of $173.20 per share, for a total transaction of $30,310.00. Following the completion of the acquisition, the director owned 16,624 shares in the company, valued at $2,879,276.80. This trade represents a 1.06% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 95,923 shares of company stock worth $16,399,619 in the last 90 days. 0.40% of the stock is owned by corporate insiders.
Phillips 66 News Roundup
- Positive Sentiment: Board declared a quarterly cash dividend of $1.27 per share, supporting the stock’s income profile and signaling continued capital return to shareholders. Phillips 66 Announces Quarterly Dividend
- Positive Sentiment: Wells Fargo reaffirmed its Buy rating, providing some analyst support amid volatility. Wells Fargo Reaffirms Their Buy Rating on Phillips 66 (PSX)
- Positive Sentiment: CEO comments that global oil supply “will not snap back quickly” after the Iran conflict imply sustained tightness in product markets, which can support refining and marketing margins over time. Global oil supply will not snap back quickly after Iran war, Phillips 66 CEO Lashier says
- Neutral Sentiment: Recent pullback has attracted valuation checks: PSX is down over the past month but shows strong 3‑month and 1‑year returns — a reminder that near-term volatility may be a buying opportunity for longer-term holders. Phillips 66 (PSX) Valuation Check After Recent Share Price Pullback And Strong Longer Term Returns
- Negative Sentiment: Phillips 66 disclosed roughly $900M of pre-tax mark-to-market losses on commodity hedges for Q1, plus related collateral outflows and quarter-specific operational headwinds — a major driver of today’s selloff as investors reprice near-term cash flow risk. Phillips 66 slides as investors weigh $900M hedge mark-to-market hit and Q1 volatility ahead of earnings
- Negative Sentiment: Broader energy group weakness after reports the Strait of Hormuz was open reduced wartime risk premia in oil markets, pressuring refiners and integrated oil names including PSX. Energy Stocks Lose Wartime Gains
- Negative Sentiment: Jefferies cut PSX to Hold — another headwind for sentiment amid the recent volatility and earnings uncertainty. Phillips 66 (NYSE:PSX) Cut to “Hold” at Jefferies Financial Group
Phillips 66 Trading Down 4.2%
Shares of Phillips 66 stock opened at $156.44 on Friday. Phillips 66 has a 12-month low of $95.70 and a 12-month high of $190.61. The stock has a market cap of $62.69 billion, a P/E ratio of 14.46, a P/E/G ratio of 0.29 and a beta of 0.76. The company has a quick ratio of 0.91, a current ratio of 1.30 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $166.55 and its 200-day moving average is $147.09.
Phillips 66 (NYSE:PSX – Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.32. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.The company had revenue of $32.16 billion for the quarter, compared to analysts’ expectations of $33.81 billion. During the same quarter in the prior year, the business posted ($0.15) EPS. Equities research analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.
Phillips 66 Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, February 23rd. This is a positive change from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s payout ratio is currently 46.95%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on PSX shares. Citigroup lifted their price target on shares of Phillips 66 from $159.00 to $183.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. UBS Group lifted their price target on shares of Phillips 66 from $172.00 to $212.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Barclays lifted their price objective on Phillips 66 from $158.00 to $177.00 and gave the company an “equal weight” rating in a report on Wednesday, April 8th. Wall Street Zen cut Phillips 66 from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 11th. Finally, Scotiabank upgraded Phillips 66 to a “hold” rating in a report on Friday, March 27th. Eleven analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, Phillips 66 has a consensus rating of “Hold” and an average target price of $180.72.
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.
See Also
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