Czech National Bank Has $19.29 Million Holdings in Phillips 66 $PSX

Czech National Bank grew its position in Phillips 66 (NYSE:PSX) by 4.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,121 shares of the oil and gas company’s stock after buying an additional 4,387 shares during the quarter. Czech National Bank’s holdings in Phillips 66 were worth $19,292,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. PensionDanmark Pensionsforsikringsaktieselskab boosted its stake in Phillips 66 by 12.8% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 86,229 shares of the oil and gas company’s stock worth $14,577,000 after purchasing an additional 9,777 shares during the period. Apella Capital LLC raised its stake in Phillips 66 by 3.6% during the 2nd quarter. Apella Capital LLC now owns 3,656 shares of the oil and gas company’s stock valued at $654,000 after purchasing an additional 127 shares during the period. Fermata Advisors LLC purchased a new stake in shares of Phillips 66 in the second quarter valued at $222,000. Mirador Capital Partners LP lifted its holdings in shares of Phillips 66 by 0.5% in the second quarter. Mirador Capital Partners LP now owns 47,295 shares of the oil and gas company’s stock valued at $7,995,000 after purchasing an additional 250 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Phillips 66 by 7.0% in the second quarter. GAMMA Investing LLC now owns 17,206 shares of the oil and gas company’s stock worth $2,909,000 after buying an additional 1,130 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PSX. The Goldman Sachs Group lifted their price target on Phillips 66 from $207.00 to $235.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Morgan Stanley raised their price objective on Phillips 66 from $180.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Raymond James Financial lifted their target price on Phillips 66 from $218.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. BMO Capital Markets increased their price target on shares of Phillips 66 from $195.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Finally, Jefferies Financial Group raised their price target on shares of Phillips 66 from $191.00 to $207.00 and gave the stock a “hold” rating in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $206.50.

Phillips 66 News Summary

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

• Positive Sentiment: Record earnings and broad-based operating improvement: Second-quarter adjusted earnings reached approximately $3.8 billion, with net profit rising sharply as refining margins more than doubled. Refining, midstream, chemicals and marketing all contributed, while stronger execution helped the company exceed earnings expectations. Phillips 66 Profit Jumps as Refining Margins More Than Double
• Positive Sentiment: Favorable refining outlook: Management said tight product supply and limited refining capacity could keep margins strong through 2027, extending the period of elevated profitability. Phillips 66 sees strong refining margins continuing through 2027
• Positive Sentiment: Balance-sheet and shareholder-return catalysts: Debt reduction, midstream growth and potential for enhanced capital returns are improving the investment case. TD Cowen maintained a Buy rating and raised its price target to $255 from $240, citing stronger fundamentals and a healthier balance sheet. TD Cowen raises Phillips 66 price target
• Neutral Sentiment: Analyst sentiment is positive but not unanimous: Brokerages collectively rate PSX a “Moderate Buy,” while a fair-value estimate increased to $207.53. However, Bank of America reiterated a Hold rating with a $213 target, indicating some analysts view much of the upside as already reflected. Phillips 66 receives Moderate Buy recommendation
• Negative Sentiment: Cyclical and valuation risks remain: The stock is near its 12-month high after a substantial rally, leaving investors concerned that refining margins may normalize and that current earnings could represent a peak. That caution may be limiting further gains despite the upbeat results.

Insiders Place Their Bets

In other news, EVP Vanessa Allen Sutherland sold 3,523 shares of Phillips 66 stock in a transaction that occurred 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 sale, the executive vice president owned 27,537 shares of the company’s stock, valued at approximately $5,811,683.85. This trade represents a 11.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin J. Mitchell sold 11,021 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the completion of the sale, the chief financial officer directly owned 97,376 shares in the company, valued at $18,504,361.28. This trade represents a 10.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 15,707 shares of company stock valued at $3,059,584. Insiders own 0.40% of the company’s stock.

Phillips 66 Price Performance

NYSE PSX opened at $204.05 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.32 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $81.42 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 0.16 and a beta of 0.68. Phillips 66 has a 12-month low of $118.07 and a 12-month high of $216.08. The company has a 50 day moving average price of $188.40 and a two-hundred day moving average price of $172.95.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share for the quarter, topping analysts’ consensus estimates of $7.50 by $1.91. The company had revenue of $52.04 billion during the quarter, compared to analysts’ expectations of $43.60 billion. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.During the same quarter in the previous year, the firm earned $2.38 earnings per share. As a group, equities analysts predict that Phillips 66 will post 22.43 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.5%. Phillips 66’s payout ratio is 28.95%.

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

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.