USA Financial Formulas Buys New Stake in Phillips 66 $PSX

USA Financial Formulas purchased a new stake in Phillips 66 (NYSE:PSX) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,103 shares of the oil and gas company’s stock, valued at approximately $565,000.

A number of other institutional investors also recently bought and sold shares of PSX. Norges Bank acquired a new position in shares of Phillips 66 during the 4th quarter worth about $640,206,000. M&T Bank Corp raised 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 worth $352,007,000 after acquiring an additional 2,243,268 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Phillips 66 by 424.7% during 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 in the last quarter. Amundi lifted its stake in Phillips 66 by 62.0% during the first quarter. Amundi now owns 3,667,451 shares of the oil and gas company’s stock worth $668,137,000 after purchasing an additional 1,403,493 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC purchased a new stake in Phillips 66 during the second quarter worth approximately $107,967,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Phillips 66

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

Insider Buying and Selling at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 3,523 shares of the company’s 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 completion of the sale, the executive vice president owned 27,537 shares in the company, valued at $5,811,683.85. This represents a 11.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin J. Mitchell sold 11,021 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at approximately $18,504,361.28. This represents a 10.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 100,507 shares of company stock worth $21,770,810 in the last 90 days. Company insiders own 0.40% of the company’s stock.

Phillips 66 Trading Down 0.1%

NYSE:PSX opened at $233.29 on Monday. The company has a market capitalization of $93.09 billion, a PE ratio of 13.29, a P/E/G ratio of 0.17 and a beta of 0.68. Phillips 66 has a 52-week low of $121.24 and a 52-week high of $236.14. The stock’s 50 day moving average price is $192.72 and its 200 day moving average price is $176.20. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.57.

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

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

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66’s payout ratio is presently 28.95%.

Wall Street Analyst Weigh In

Several equities analysts have commented on PSX shares. Piper Sandler increased their price target on shares of Phillips 66 from $208.00 to $209.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Morgan Stanley boosted their price objective on shares of Phillips 66 from $180.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. UBS Group upped their target price 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. Weiss Ratings raised shares of Phillips 66 from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday. Finally, Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $206.56.

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.