Perigon Wealth Management LLC Takes Position in Phillips 66 $PSX

Perigon Wealth Management LLC purchased a new position in shares of Phillips 66 (NYSE:PSX) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 5,738 shares of the oil and gas company’s stock, valued at approximately $970,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MUFG Securities EMEA plc grew its position in shares of Phillips 66 by 113.5% in the 4th quarter. MUFG Securities EMEA plc now owns 16,518 shares of the oil and gas company’s stock valued at $2,131,000 after acquiring an additional 8,783 shares during the period. Horizon Investments LLC raised its holdings in shares of Phillips 66 by 478.4% in the 4th quarter. Horizon Investments LLC now owns 63,290 shares of the oil and gas company’s stock valued at $8,167,000 after purchasing an additional 52,348 shares during the period. Truist Financial Corp raised its holdings in shares of 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 purchasing an additional 10,585 shares during the period. Fifth Third Bancorp raised its holdings in shares of 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 purchasing an additional 108,248 shares during the period. Finally, National Pension Service lifted its stake in Phillips 66 by 2.0% in the 4th quarter. National Pension Service now owns 614,059 shares of the oil and gas company’s stock valued at $79,238,000 after purchasing an additional 11,960 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Richard G. Harbison sold 52,100 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president directly owned 39,094 shares of the company’s stock, valued at $8,747,673.44. The trade was a 57.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Vanessa Allen Sutherland sold 3,523 shares of the business’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 directly owned 27,537 shares in the company, valued at approximately $5,811,683.85. This represents 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. In the last ninety days, insiders sold 100,507 shares of company stock worth $21,770,810. Corporate insiders own 0.40% of the company’s stock.

Phillips 66 Trading Up 1.1%

Shares of PSX stock opened at $243.26 on Wednesday. The stock has a market cap of $97.07 billion, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 0.17 and a beta of 0.68. Phillips 66 has a 1 year low of $121.24 and a 1 year high of $243.60. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57. The stock has a 50 day simple moving average of $195.15 and a 200 day simple moving average of $177.62.

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

Phillips 66 declared that its Board of Directors has initiated a share repurchase plan on Friday, July 31st that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to purchase up to 11.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66’s payout ratio is presently 28.95%.

More Phillips 66 News

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

• Positive Sentiment: Western Gateway pipeline deal supports the rally. The reported transaction is expected to expand Phillips 66’s midstream footprint, potentially improving cash flow and giving its refining and marketing operations greater supply and distribution flexibility. Phillips 66 stock hits 52-week high as pipeline deal adds to rally Will Western Gateway Enhance PSX’s Midstream & Refining Cash Flow?
• Positive Sentiment: Record diesel prices could lift refining margins. Diesel strength is diverging from crude-oil trends, creating favorable economics for refiners such as Phillips 66 and potentially supporting near-term profits and cash generation. Diesel Prices Are Breaking Records
• Positive Sentiment: Options activity signals aggressive bullish positioning. Traders purchased 52,191 PSX call options, versus an average of 2,983, indicating elevated expectations for additional upside. Options flow can amplify momentum, although it is not a guarantee of future performance. Stock Traders Purchase Large Volume of Phillips 66 Call Options
• Neutral Sentiment: A fire at a major fuel depot on a key pipeline system could disrupt refined-product supplies. The resulting supply tightness may support diesel prices and refining margins, but potential logistics or operational disruptions create uncertainty for Phillips 66. Lightning Sparks Fire at Massive US Fuel Depot
• Negative Sentiment: An executive sold more than 52,000 Phillips 66 shares after exercising options, locking in substantial gains following the stock’s strong run. The sale may weigh modestly on sentiment, though it appears related to profit-taking rather than a disclosed change in business prospects. Executive Dumps Over 52,000 Shares of Iconic Energy Stock
• Negative Sentiment: A feedstock-agreement dispute with XCF Global could expose Phillips 66 to legal or commercial uncertainty, although the available report does not indicate a material financial impact on PSX. XCF Global dispute with Phillips 66

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PSX shares. Piper Sandler boosted their price target on Phillips 66 from $208.00 to $209.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Scotiabank raised their price objective on Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. UBS Group lifted their target price on Phillips 66 from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Mizuho raised Phillips 66 from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $170.00 to $212.00 in a report on Wednesday, May 27th. Finally, Wells Fargo & Company boosted their target price on Phillips 66 from $201.00 to $239.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $206.56.

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.