Hennion & Walsh Asset Management Inc. Has $1.07 Million Stock Position in Phillips 66 $PSX

Hennion & Walsh Asset Management Inc. cut its stake in Phillips 66 (NYSE:PSX) by 34.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,305 shares of the oil and gas company’s stock after selling 3,329 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Phillips 66 were worth $1,066,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MUFG Securities EMEA plc raised its holdings in shares of Phillips 66 by 113.5% during the fourth quarter. MUFG Securities EMEA plc now owns 16,518 shares of the oil and gas company’s stock valued at $2,131,000 after purchasing an additional 8,783 shares during the period. Horizon Investments LLC boosted its position in shares of Phillips 66 by 478.4% during the 4th quarter. Horizon Investments LLC now owns 63,290 shares of the oil and gas company’s stock worth $8,167,000 after purchasing an additional 52,348 shares in the last quarter. LBP AM SA grew its stake in shares of Phillips 66 by 237.8% in the 4th quarter. LBP AM SA now owns 56,380 shares of the oil and gas company’s stock valued at $7,275,000 after buying an additional 39,690 shares during the period. Truist Financial Corp increased its position in Phillips 66 by 1.6% in the 4th quarter. Truist Financial Corp now owns 675,084 shares of the oil and gas company’s stock valued at $87,113,000 after buying an additional 10,585 shares in the last quarter. Finally, Fifth Third Bancorp increased its position 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 valued at $23,348,000 after buying an additional 108,248 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

PSX stock opened at $232.55 on Friday. The company has a market capitalization of $92.79 billion, a P/E ratio of 13.25, a price-to-earnings-growth ratio of 0.16 and a beta of 0.68. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.32. Phillips 66 has a 52-week low of $119.80 and a 52-week high of $232.89. The business has a 50-day simple moving average of $191.72 and a two-hundred day simple moving average of $175.55.

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

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be issued a dividend of $1.27 per share. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 annualized dividend and a yield of 2.2%. Phillips 66’s dividend payout ratio is 28.95%.

Phillips 66 announced that its Board of Directors has initiated a share buyback program on Friday, July 31st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the oil and gas company to purchase up to 11.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wells Fargo & Company increased their price target on Phillips 66 from $201.00 to $239.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. boosted their price objective on Phillips 66 from $188.00 to $202.00 in a report on Thursday, April 30th. Jefferies Financial Group upped their target price on Phillips 66 from $191.00 to $207.00 and gave the stock a “hold” rating in a research report on Thursday, July 9th. UBS Group upped their target price on Phillips 66 from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Finally, Citigroup reissued a “neutral” rating on shares of Phillips 66 in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.56.

Insider Buying and Selling

In other news, EVP Richard G. Harbison sold 52,100 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $223.76, for a total value of $11,657,896.00. Following the completion of the sale, the executive vice president owned 39,094 shares in the company, valued at $8,747,673.44. This represents a 57.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 3,523 shares of the company’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $211.05, for a total transaction of $743,529.15. Following the completion of the sale, the executive vice president 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 100,507 shares of company stock valued at $21,770,810. 0.40% of the stock is owned by corporate insiders.

Phillips 66 News Roundup

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

• Positive Sentiment: Refining margins and cash flow remain strong. Phillips 66 reported second-quarter refining margins of $24.08 per barrel, while debt declined by $6.6 billion. Supply disruptions linked to the Iran conflict have also supported fuel margins across major U.S. refiners, potentially sustaining earnings and shareholder payouts. U.S. refiners ramp up buybacks as Iran war boosts fuel margins
• Positive Sentiment: Shareholder returns are a major catalyst. Phillips 66 authorized a $10 billion share-repurchase program, equal to approximately 11.8% of shares outstanding, and maintains a quarterly dividend of $1.27 per share. Stronger margins and reduced leverage improve the company’s capacity to return capital. Phillips 66 stock analysis
• Positive Sentiment: Analyst support and infrastructure expansion add confidence. J.P. Morgan maintained its Buy rating, while Phillips 66 and partners approved the approximately $5 billion Western Gateway refined-products pipeline. The 1,300-mile project could create longer-term transportation and logistics opportunities. J.P. Morgan maintains Buy rating
• Neutral Sentiment: Valuation and regulatory risks warrant caution. Strong refining margins, diversified cash flows and debt reduction support PSX’s premium valuation, but refining is cyclical and potential regulatory changes could pressure future profitability. Should You Buy Phillips 66 Stock at Its Current Premium Valuation?
• Negative Sentiment: Multiple executives have sold shares. EVP Richard Harbison sold 52,100 shares for about $11.7 million, while EVP Brian Mandell sold 33,300 shares for roughly $7.2 million. Additional option-related sales totaled about $1.7 million. The transactions may represent profit-taking after a strong run, but they could weigh on near-term sentiment. Phillips 66 insider selling activity

Phillips 66 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.