Short Interest in Phillips 66 (NYSE:PSX) Decreases By 13.4%

Phillips 66 (NYSE:PSX) saw a large decrease in short interest in the month of March. As of March 31st, there was short interest totaling 7,123,173 shares, a decrease of 13.4% from the March 15th total of 8,223,644 shares. Based on an average daily volume of 3,900,452 shares, the short-interest ratio is presently 1.8 days. Currently, 1.8% of the shares of the stock are sold short.

Insider Buying and Selling

In related news, EVP Brian Mandell sold 42,800 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $169.53, for a total transaction of $7,255,884.00. Following the completion of the sale, the executive vice president directly owned 61,595 shares of the company’s stock, valued at $10,442,200.35. This trade represents a 41.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevin J. Mitchell sold 15,629 shares of the firm’s stock in a transaction on Monday, March 30th. The shares were sold at an average price of $190.07, for a total value of $2,970,604.03. Following the sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at $18,508,256.32. This represents a 13.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 95,923 shares of company stock worth $16,399,619. Insiders own 0.40% of the company’s stock.

Institutional Trading of Phillips 66

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. boosted its position in shares of Phillips 66 by 57.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 56,858 shares of the oil and gas company’s stock worth $7,734,000 after purchasing an additional 20,742 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in shares of Phillips 66 by 5.0% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 209,700 shares of the oil and gas company’s stock worth $28,523,000 after purchasing an additional 10,000 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Phillips 66 by 15.5% during the 3rd quarter. TD Asset Management Inc now owns 174,413 shares of the oil and gas company’s stock worth $23,724,000 after purchasing an additional 23,364 shares in the last quarter. First National Bank of Omaha bought a new position in shares of Phillips 66 during the 3rd quarter worth about $2,357,000. Finally, Caprock Group LLC bought a new position in shares of Phillips 66 during the 3rd quarter worth about $2,412,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Phillips 66

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

• 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 Stock Performance

Shares of NYSE:PSX traded down $6.89 during trading on Friday, reaching $156.44. 3,691,434 shares of the stock were exchanged, compared to its average volume of 3,272,870. Phillips 66 has a 12 month low of $95.70 and a 12 month high of $190.61. The firm has a market cap of $62.69 billion, a PE ratio of 14.46, a PEG ratio of 0.29 and a beta of 0.76. The stock has a 50-day moving average price of $166.55 and a 200-day moving average price of $147.01. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.32. The business had revenue of $32.16 billion during the quarter, compared to analysts’ expectations of $33.81 billion. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.During the same period in the previous year, the company posted ($0.15) earnings per share. Research analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 3.2%. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. The ex-dividend date was Monday, February 23rd. Phillips 66’s dividend payout ratio (DPR) is currently 46.95%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PSX shares. Scotiabank upgraded Phillips 66 to a “hold” rating in a report on Friday, March 27th. BMO Capital Markets lifted their target price on Phillips 66 from $175.00 to $195.00 and gave the stock an “outperform” rating in a report on Tuesday, April 7th. Argus lifted their target price on Phillips 66 from $152.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. TD Cowen lifted their target price on Phillips 66 from $155.00 to $213.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. Finally, Weiss Ratings upgraded Phillips 66 from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Eleven research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.