Phillips 66 $PSX Stake Lessened by MH & Associates Securities Management Corp ADV

MH & Associates Securities Management Corp ADV cut its stake in shares of Phillips 66 (NYSE:PSX) by 42.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,827 shares of the oil and gas company’s stock after selling 10,381 shares during the quarter. Phillips 66 makes up approximately 3.1% of MH & Associates Securities Management Corp ADV’s portfolio, making the stock its 11th biggest position. MH & Associates Securities Management Corp ADV’s holdings in Phillips 66 were worth $3,530,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Phillips 66 in the second quarter worth approximately $5,766,779,000. State Street Corp increased its position in shares of Phillips 66 by 1.1% in the 2nd quarter. State Street Corp now owns 26,044,694 shares of the oil and gas company’s stock valued at $4,402,856,000 after purchasing an additional 271,841 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Phillips 66 in the 2nd quarter valued at approximately $1,093,206,000. Amundi raised its holdings in shares of Phillips 66 by 62.0% in the 1st quarter. Amundi now owns 3,667,451 shares of the oil and gas company’s stock valued at $668,137,000 after purchasing an additional 1,403,493 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Phillips 66 by 1.2% in the 1st quarter. Bank of America Corp DE now owns 2,971,036 shares of the oil and gas company’s stock valued at $541,263,000 after purchasing an additional 35,167 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Down 4.6%

Shares of NYSE:PSX opened at $259.38 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.04 and a current ratio of 1.34. Phillips 66 has a 1 year low of $127.16 and a 1 year high of $299.39. The stock has a market capitalization of $101.18 billion, a P/E ratio of 8.28, a PEG ratio of 0.15 and a beta of 0.69. The stock has a 50-day simple moving average of $267.86 and a 200-day simple moving average of $200.44.

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 the consensus estimate of $11.73 by $2.35. Phillips 66 had a return on equity of 33.12% and a net margin of 7.27%. The company had revenue of $50.54 billion for the quarter, compared to analyst estimates of $44.91 billion. During the same period last year, the company posted $2.52 earnings per share. Equities analysts forecast that Phillips 66 will post 33.63 earnings per share for the current year.

Phillips 66 announced that its Board of Directors has authorized a share repurchase plan on Friday, July 31st that allows the company to repurchase $10 billion in outstanding shares. This buyback authorization allows the oil and gas company to buy up to 11.8% of its stock through open market purchases. Share buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 17th will be paid a dividend of $1.33 per share. This is a positive change from Phillips 66’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $5.32 annualized dividend and a yield of 2.1%. Phillips 66’s payout ratio is presently 16.22%.

Insiders Place Their Bets

In other Phillips 66 news, EVP Richard Harbison sold 52,100 shares of the business’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 transaction, the executive vice president owned 39,094 shares in the company, valued at $8,747,673.44. The trade was a 57.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Brian Mandell sold 30,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $215.00, for a total transaction of $6,450,000.00. Following the completion of the transaction, the executive vice president directly owned 61,595 shares of the company’s stock, valued at approximately $13,242,925. The trade was a 32.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 108,800 shares of company stock worth $25,016,566 in the last quarter. 0.40% of the stock is currently owned by company insiders.

Phillips 66 News Summary

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

• Positive Sentiment: Phillips 66 agreed to a long-term deal with Restaurant Technologies to supply used cooking oil for renewable diesel and sustainable aviation fuel production at its Rodeo facility. The agreement supports feedstock access and the company’s lower-carbon fuels business. Article: Phillips 66 secures long-term used cooking oil supply
• Positive Sentiment: Morgan Stanley issued a buy rating on PSX, signaling confidence in the shares’ prospects. Article: Morgan Stanley issues a buy rating
• Neutral Sentiment: Citigroup raised its price target to $302 from $297 but kept a neutral rating. The higher target is supportive, though the unchanged rating suggests the bank sees limited reason to upgrade its stance. Article: Citigroup adjusts price target
• Negative Sentiment: A report highlighted a steep single-session drop in PSX shares, signaling notable near-term selling pressure. The article did not identify a specific company catalyst for the decline. Article: Phillips 66 drops in one session

Wall Street Analyst Weigh In

PSX has been the subject of a number of analyst reports. Weiss Ratings upgraded shares of Phillips 66 from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. BMO Capital Markets raised their price objective on shares of Phillips 66 from $260.00 to $310.00 and gave the company an “outperform” rating in a research report on Thursday, September 17th. Wall Street Zen raised shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 26th. The Goldman Sachs Group lifted their target price on shares of Phillips 66 from $245.00 to $274.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 30th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $276.00 price objective on shares of Phillips 66 in a research note on Sunday, October 11th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $270.12.

About Phillips 66

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.