International Assets Investment Management LLC Decreases Position in Phillips 66 $PSX

International Assets Investment Management LLC reduced its position in shares of Phillips 66 (NYSE:PSX) by 15.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,374 shares of the oil and gas company’s stock after selling 3,619 shares during the period. International Assets Investment Management LLC’s holdings in Phillips 66 were worth $3,403,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Phillips 66 during the fourth quarter worth approximately $640,206,000. M&T Bank Corp lifted its position in shares of Phillips 66 by 462.9% during the 4th quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock valued at $352,007,000 after acquiring an additional 2,243,268 shares during the period. AQR Capital Management LLC grew its holdings in shares of Phillips 66 by 424.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock worth $257,512,000 after acquiring an additional 1,532,389 shares during the period. Worldquant Millennium Advisors LLC purchased a new position in shares of Phillips 66 during the 2nd quarter worth approximately $107,967,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Phillips 66 by 732.0% during the fourth quarter. NewEdge Advisors LLC now owns 996,955 shares of the oil and gas company’s stock valued at $128,647,000 after acquiring an additional 877,131 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 600 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $171.56, for a total value of $102,936.00. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at $16,705,826.56. This represents a 0.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kevin Omar Meyers purchased 175 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was acquired at an average cost of $173.12 per share, with a total value of $30,296.00. Following the purchase, the director owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. This represents a 1.05% increase in their position. The SEC filing for this purchase provides additional information. 0.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Weiss Ratings downgraded Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 1st. The Goldman Sachs Group boosted their target price on Phillips 66 from $192.00 to $207.00 and gave the stock a “neutral” rating in a report on Tuesday, May 19th. TD Cowen boosted their price objective on shares of Phillips 66 from $213.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. BMO Capital Markets increased their price target on Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Finally, Jefferies Financial Group boosted their price objective on Phillips 66 from $191.00 to $207.00 and gave the stock a “hold” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $193.94.

Phillips 66 Stock Performance

Shares of PSX stock traded down $1.23 on Friday, hitting $188.59. 2,663,901 shares of the stock traded hands, compared to its average volume of 2,770,676. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. Phillips 66 has a 1-year low of $118.07 and a 1-year high of $193.04. The company’s fifty day moving average is $176.38 and its 200 day moving average is $162.96. The company has a market capitalization of $75.61 billion, a PE ratio of 18.58, a PEG ratio of 0.25 and a beta of 0.69.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The business had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. During the same quarter in the prior year, the firm earned ($0.90) EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities research analysts predict that Phillips 66 will post 19.3 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed 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 is Tuesday, August 18th. This represents a $5.08 annualized dividend and a yield of 2.7%. Phillips 66’s dividend payout ratio (DPR) is currently 50.05%.

Key Stories Impacting Phillips 66

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

• Positive Sentiment: Phillips 66 announced a quarterly dividend of $1.27 per share, reinforcing its income appeal for investors and signaling continued shareholder returns. Phillips 66 Announces Quarterly Dividend
• Positive Sentiment: Recent commentary noted that higher crude prices and renewed Middle East tensions could support refining margins and help Phillips 66, since the company can benefit when fuel spreads remain favorable. What Do Renewed Middle East Tensions Mean for Phillips 66’s Business?
• Positive Sentiment: Analysts highlighted Phillips 66 as a momentum name, and the stock has been outperforming broader market moves, which can attract additional buying interest. Why Phillips 66 (PSX) is a top momentum stock for the long term
• Neutral Sentiment: Barclays raised its price target on Phillips 66 to $183 from $177 but kept an equal-weight rating, suggesting a modestly cautious stance rather than a strong bullish call. Phillips 66 (NYSE:PSX) Given New $183.00 Price Target at Barclays
• Neutral Sentiment: Coverage also focused on analysts’ views and dividend-related news, which supports investor attention but does not materially change the company’s operating outlook by itself. Analysts Offer Insights on Energy Companies: Exxon Mobil (XOM) and Phillips 66 (PSX)
• Negative Sentiment: One market update said Phillips 66 was set to snap a six-session winning streak, indicating some near-term cooling after the recent rally. Phillips 66 set to snap six straight sessions of gains

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.