Phillips 66 $PSX Stock Sold by Profund Advisors LLC

Profund Advisors LLC reduced its position in Phillips 66 (NYSE:PSX) by 27.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 14,401 shares of the oil and gas company’s stock after selling 5,474 shares during the period. Profund Advisors LLC’s holdings in Phillips 66 were worth $3,677,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Grandfield & Dodd LLC acquired a new position in Phillips 66 in the third quarter valued at about $293,000. Investment Partners LTD. grew its stake in Phillips 66 by 76.6% during the third quarter. Investment Partners LTD. now owns 2,744 shares of the oil and gas company’s stock worth $701,000 after buying an additional 1,190 shares in the last quarter. Unison Advisors LLC grew its stake in Phillips 66 by 0.7% during the third quarter. Unison Advisors LLC now owns 23,159 shares of the oil and gas company’s stock worth $5,913,000 after buying an additional 154 shares in the last quarter. Moss Adams Wealth Advisors LLC increased its holdings in Phillips 66 by 6.6% in the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 2,049 shares of the oil and gas company’s stock valued at $523,000 after buying an additional 126 shares during the period. Finally, Americana Partners LLC increased its holdings in Phillips 66 by 8.0% in the 3rd quarter. Americana Partners LLC now owns 26,946 shares of the oil and gas company’s stock valued at $6,880,000 after buying an additional 1,985 shares during the period. Institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Mizuho downgraded shares of Phillips 66 from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $220.00 to $300.00 in a report on Thursday, October 8th. TD Cowen upped their target price on Phillips 66 from $295.00 to $308.00 and gave the stock a “buy” rating in a research note on Thursday, October 22nd. Morgan Stanley lifted their price target on Phillips 66 from $196.00 to $284.00 and gave the company an “overweight” rating in a research note on Monday, September 14th. Jefferies Financial Group restated a “hold” rating and set a $276.00 price objective on shares of Phillips 66 in a research report on Sunday, October 11th. Finally, Citigroup lifted their target price on Phillips 66 from $217.00 to $297.00 and gave the company a “neutral” rating in a research report on Tuesday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $270.19.

Insider Transactions at Phillips 66

In other news, EVP Brian Mandell sold 23,400 shares of the business’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $265.06, for a total transaction of $6,202,404.00. Following the sale, the executive vice president directly owned 61,595 shares in the company, valued at approximately $16,326,370.70. The trade was a 27.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Richard Harbison sold 52,100 shares of the company’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 value of $11,657,896.00. Following the completion of the transaction, the executive vice president directly owned 39,094 shares of the company’s stock, valued at $8,747,673.44. This represents a 57.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 108,800 shares of company stock worth $25,016,566 over the last three months. Insiders own 0.40% of the company’s stock.

Phillips 66 News Summary

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

• Positive Sentiment: Phillips 66 reported adjusted earnings per share of $14.08, well above the $11.73 analyst consensus and up sharply year over year. Revenue also exceeded expectations, while record refining margins, 98% refinery utilization and a 41% distillate yield drove the profit surge. Phillips 66 Posts Strong Earnings But the Stock Doesn’t Care
• Positive Sentiment: Management highlighted continued strength in refining and midstream, progress on debt reduction and shareholder returns, and investment in long-term projects such as the Western Gateway Pipeline system. These initiatives could improve cash flow durability and reduce leverage. PSX Q3 Earnings Call Highlights Refining Strength and Growth Plans
• Positive Sentiment: The company raised its quarterly dividend to $1.33 per share and continued substantial share repurchases, reinforcing the income and capital-return case for investors. Learn Why The Bull Case For Phillips 66 Stock Could Change Following Earnings Beat
• Positive Sentiment: Some coverage argues that PSX may still be undervalued despite its significant multiyear advance, citing record profitability, robust midstream volumes, deleveraging and a relatively low reported valuation multiple. Phillips 66 Stock Could Be Undervalued

Phillips 66 Stock Performance

NYSE PSX opened at $283.18 on Friday. Phillips 66 has a fifty-two week low of $127.16 and a fifty-two week high of $299.39. The stock has a market cap of $110.46 billion, a PE ratio of 9.04, a PEG ratio of 0.16 and a beta of 0.71. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.00 and a current ratio of 1.34. The firm’s fifty day moving average price is $266.19 and its two-hundred day moving average price is $198.51.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, October 28th. The oil and gas company reported $14.08 earnings per share for the quarter, topping analysts’ consensus estimates of $11.73 by $2.35. Phillips 66 had a return on equity of 33.12% and a net margin of 7.27%. The business had revenue of $50.54 billion for the quarter, compared to analyst estimates of $44.91 billion. During the same quarter in the previous year, the company posted $2.52 EPS. On average, equities analysts expect that Phillips 66 will post 33.11 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 17th will be paid a dividend of $1.33 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.27. This represents a $5.32 dividend on an annualized basis and a dividend yield of 1.9%. Phillips 66’s payout ratio is 16.22%.

Phillips 66 announced that its Board of Directors has authorized a stock repurchase program on Friday, July 31st that allows the company to buy back $10 billion in outstanding shares. This repurchase authorization allows the oil and gas company to buy up to 11.8% of its shares through open market purchases. Share repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

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.