Oppenheimer Asset Management Inc. Invests $16.32 Million in Phillips 66 $PSX

Oppenheimer Asset Management Inc. purchased a new stake in shares of Phillips 66 (NYSE:PSX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 96,515 shares of the oil and gas company’s stock, valued at approximately $16,316,000.

Other large investors have also recently modified their holdings of the company. NFSG Corp increased its holdings in Phillips 66 by 105.6% during the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 75 shares during the period. Axiom Investment Management LLC purchased a new stake in shares of Phillips 66 in the 1st quarter worth $27,000. SWAN Capital LLC lifted its holdings in shares of Phillips 66 by 1,055.6% in the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after buying an additional 190 shares during the period. Agman Capital LLC grew its position in shares of Phillips 66 by 832.1% during the 2nd quarter. Agman Capital LLC now owns 183,634 shares of the oil and gas company’s stock worth $31,000 after buying an additional 163,932 shares in the last quarter. Finally, Sfam LLC bought a new position in shares of Phillips 66 during the 4th quarter worth $34,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Activity

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 3,523 shares of Phillips 66 stock in a transaction 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 transaction, the executive vice president directly owned 27,537 shares of the company’s stock, valued at approximately $5,811,683.85. The trade was a 11.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Brian Mandell sold 30,000 shares of Phillips 66 stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $215.00, for a total transaction of $6,450,000.00. Following the completion of the transaction, the executive vice president directly owned 61,595 shares in the company, valued at $13,242,925. This represents a 32.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 100,507 shares of company stock worth $21,770,810. Insiders own 0.40% of the company’s stock.

More 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 Price Performance

PSX opened at $233.29 on Monday. The business’s 50-day moving average is $192.72 and its two-hundred day moving average is $176.20. Phillips 66 has a 1 year low of $121.24 and a 1 year high of $236.14. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.32 and a quick ratio of 1.00. 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.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, topping analysts’ consensus estimates of $7.50 by $1.91. The business had revenue of $52.04 billion during the quarter, compared to the consensus estimate of $43.60 billion. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. During the same period in the previous year, the company posted $2.38 earnings per share. Research analysts anticipate that Phillips 66 will post 24.44 earnings per share for the current fiscal year.

Phillips 66 announced that its board has authorized a share buyback program on Friday, July 31st that allows the company to repurchase $10.00 billion in 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 programs are often a sign that the company’s board of directors believes its shares are undervalued.

Phillips 66 Dividend Announcement

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 paid a dividend of $1.27 per share. 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 payout ratio is 28.95%.

Analyst Upgrades and Downgrades

PSX has been the subject of several recent research reports. BMO Capital Markets lifted their price objective on Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Mizuho upgraded shares of Phillips 66 from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $170.00 to $212.00 in a report on Wednesday, May 27th. TD Cowen boosted their price target on shares of Phillips 66 from $240.00 to $255.00 and gave the company a “buy” rating in a report on Thursday, August 6th. 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 research note on Thursday, July 9th. Finally, UBS Group lifted their price objective on shares of Phillips 66 from $212.00 to $235.00 and gave the company a “buy” rating in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average target price of $206.56.

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.