Phillips 66 $PSX Stock: Pinkerton Wealth LLC Decreases Holdings

Pinkerton Wealth LLC reduced its position in shares of Phillips 66 (NYSE:PSX) by 16.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,830 shares of the oil and gas company’s stock after selling 6,851 shares during the quarter. Phillips 66 accounts for approximately 1.4% of Pinkerton Wealth LLC’s investment portfolio, making the stock its 14th biggest holding. Pinkerton Wealth LLC’s holdings in Phillips 66 were worth $8,893,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PSX. Proficio Capital Partners LLC acquired a new stake in Phillips 66 in the 2nd quarter valued at $384,000. BlackRock Inc. purchased a new stake in Phillips 66 in the 2nd quarter worth $5,766,779,000. Fifth Third Bancorp increased its holdings in Phillips 66 by 543.7% in the 1st quarter. Fifth Third Bancorp now owns 128,156 shares of the oil and gas company’s stock worth $23,348,000 after acquiring an additional 108,248 shares in the last quarter. Stack Financial Management Inc acquired a new position in Phillips 66 during the second quarter worth $36,317,000. Finally, West Family Investments Inc. acquired a new position in Phillips 66 during the second quarter worth $724,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Trending Headlines about Phillips 66

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

• Positive Sentiment: Phillips 66 reported adjusted earnings per share of $14.08, well above the $11.73 analyst consensus and up sharply year over year. Revenue also exceeded expectations, while record refining margins, 98% refinery utilization and a 41% distillate yield drove the profit surge. Phillips 66 Posts Strong Earnings But the Stock Doesn’t Care
• Positive Sentiment: Management highlighted continued strength in refining and midstream, progress on debt reduction and shareholder returns, and investment in long-term projects such as the Western Gateway Pipeline system. These initiatives could improve cash flow durability and reduce leverage. PSX Q3 Earnings Call Highlights Refining Strength and Growth Plans
• Positive Sentiment: The company raised its quarterly dividend to $1.33 per share and continued substantial share repurchases, reinforcing the income and capital-return case for investors. Learn Why The Bull Case For Phillips 66 Stock Could Change Following Earnings Beat
• Positive Sentiment: Some coverage argues that PSX may still be undervalued despite its significant multiyear advance, citing record profitability, robust midstream volumes, deleveraging and a relatively low reported valuation multiple. Phillips 66 Stock Could Be Undervalued

Insiders Place Their Bets

In other news, EVP Richard G. Harbison sold 52,100 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $223.76, for a total transaction of $11,657,896.00. Following the transaction, the executive vice president owned 39,094 shares of the company’s stock, valued at approximately $8,747,673.44. The trade was a 57.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Brian Mandell sold 23,400 shares of the company’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $265.06, for a total transaction of $6,202,404.00. Following the completion of the sale, the executive vice president directly owned 61,595 shares of the company’s stock, valued at $16,326,370.70. This represents a 27.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 108,800 shares of company stock valued at $25,016,566 over the last ninety days. Corporate insiders own 0.40% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX opened at $283.18 on Monday. The company’s 50-day moving average price is $266.19 and its 200-day moving average price is $198.51. The company has a current ratio of 1.34, a quick ratio of 1.04 and a debt-to-equity ratio of 0.49. The company has a market cap of $110.46 billion, a P/E ratio of 9.04, a P/E/G ratio of 0.15 and a beta of 0.69. Phillips 66 has a twelve month low of $127.16 and a twelve month high of $299.39.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Wednesday, October 28th. The oil and gas company reported $14.08 EPS for the quarter, beating analysts’ consensus estimates of $11.73 by $2.35. Phillips 66 had a net margin of 7.27% and a return on equity of 33.12%. The company had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $44.91 billion. During the same quarter in the prior year, the firm earned $2.52 EPS. On average, sell-side analysts forecast that Phillips 66 will post 33.11 earnings per share for the current fiscal year.

Phillips 66 declared that its board has authorized a stock repurchase plan on Friday, July 31st that permits the company to buy back $10 billion in shares. This repurchase authorization permits the oil and gas company to purchase up to 11.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors 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 1.9%. Phillips 66’s dividend payout ratio (DPR) is 16.22%.

Wall Street Analysts Forecast Growth

PSX has been the topic of several recent analyst reports. Citigroup increased their price objective on shares of Phillips 66 from $217.00 to $297.00 and gave the company a “neutral” rating in a report on Tuesday, October 13th. Jefferies Financial Group reissued a “hold” rating and set a $276.00 target price on shares of Phillips 66 in a research note on Sunday, October 11th. Mizuho downgraded shares of Phillips 66 from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $220.00 to $300.00 in a research report on Thursday, October 8th. Weiss Ratings raised shares of Phillips 66 from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Finally, Zacks Research upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Monday, September 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $270.19.

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.