Montchanin Asset Management LLC Takes Position in Phillips 66 $PSX

Montchanin Asset Management LLC acquired a new position in Phillips 66 (NYSE:PSX) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,830 shares of the oil and gas company’s stock, valued at approximately $698,000. Phillips 66 makes up 0.7% of Montchanin Asset Management LLC’s investment portfolio, making the stock its 28th largest position.

A number of other institutional investors also recently bought and sold shares of PSX. Clifford Group LLC raised its stake in Phillips 66 by 2.0% during the 4th quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock valued at $428,000 after purchasing an additional 64 shares during the period. Annis Gardner Whiting Capital Advisors LLC boosted its stake in Phillips 66 by 0.8% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 8,255 shares of the oil and gas company’s stock worth $1,504,000 after purchasing an additional 65 shares during the period. CYBER HORNET ETFs LLC grew its holdings in Phillips 66 by 5.7% during the 4th quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company’s stock valued at $158,000 after buying an additional 66 shares in the last quarter. GHP Investment Advisors Inc. grew its holdings in Phillips 66 by 2.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock valued at $414,000 after buying an additional 72 shares in the last quarter. Finally, Johnson Financial Group Inc. raised its position in shares of Phillips 66 by 11.9% during the fourth quarter. Johnson Financial Group Inc. now owns 679 shares of the oil and gas company’s stock valued at $88,000 after buying an additional 72 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PSX has been the topic of several research analyst reports. The Goldman Sachs Group boosted their target price on shares of Phillips 66 from $207.00 to $235.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Jefferies Financial Group raised their target price 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. Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Zacks Research cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Barclays increased their price objective on shares of Phillips 66 from $177.00 to $183.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $201.72.

Phillips 66 Stock Up 0.5%

NYSE PSX opened at $211.56 on Friday. The stock has a 50 day moving average price of $185.51 and a 200-day moving average price of $170.67. Phillips 66 has a one year low of $118.07 and a one year high of $216.08. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. The company has a market capitalization of $84.82 billion, a P/E ratio of 20.84, a P/E/G ratio of 0.17 and a beta of 0.69.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping the consensus estimate of ($0.54) by $1.03. The company had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. Phillips 66’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.90) earnings per share. As a group, equities analysts predict that Phillips 66 will post 22.43 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66’s dividend payout ratio (DPR) is presently 50.05%.

Phillips 66 declared that its Board of Directors has approved a share buyback program on Friday, July 31st that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 11.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Key Headlines Impacting Phillips 66

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

• Positive Sentiment: Phillips 66’s board authorized an additional $10 billion for share repurchases. The expanded authorization gives the refiner substantial flexibility to return capital, potentially reducing the share count, supporting future earnings per share and signaling management’s confidence in the company’s long-term cash generation. Phillips 66 approves $10 billion increase to share repurchase program
• Positive Sentiment: Recent strength across energy stocks and better-than-expected results from refining peer Valero Energy suggest a supportive sector backdrop for Phillips 66 ahead of its own quarterly report. Valero Energy Beats Q2 Earnings and Revenue Estimates
• Neutral Sentiment: Analysts are focusing on Phillips 66’s upcoming earnings, with expectations supported by softer crude costs and potentially stronger refinery margins. The report could provide the next major catalyst for PSX.
• Negative Sentiment: The stock’s premium valuation raises the stakes for the upcoming results. Any disappointment in refining margins, guidance or cash flow could limit the benefit of the buyback announcement. Phillips 66’s Q2 Earnings on Deck: Should You Bet on the Stock?

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 29,400 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $170.00, for a total value of $4,998,000.00. Following the sale, the chief financial officer directly owned 97,376 shares in the company, valued at $16,553,920. The trade was a 23.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kevin Omar Meyers bought 175 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were acquired at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the transaction, the director directly owned 16,799 shares in the company, valued at approximately $2,908,242.88. This represents a 1.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 45,107 shares of company stock valued at $8,057,584 in the last three months. Corporate insiders own 0.40% of the company’s stock.

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.