Phillips 66 $PSX Shares Purchased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 9.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,744 shares of the oil and gas company’s stock after acquiring an additional 6,164 shares during the period. Rakuten Investment Management Inc.’s holdings in Phillips 66 were worth $18,097,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Next Level Wealth Planning LLC purchased a new position in shares of Phillips 66 during the third quarter valued at approximately $36,000. NFSG Corp raised its position in Phillips 66 by 105.6% in the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 75 shares during the last quarter. Axiom Investment Management LLC purchased a new stake in Phillips 66 in the 1st quarter valued at $27,000. Compass Financial Management LLC bought a new position in Phillips 66 during the 2nd quarter valued at $28,000. Finally, Putney Financial Group LLC bought a new position in Phillips 66 during the 3rd quarter valued at $43,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Buying and Selling

In other news, EVP Richard Harbison sold 52,100 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was 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 trade represents a 57.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brian Mandell sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $215.00, for a total transaction of $6,450,000.00. Following the sale, the executive vice president directly owned 61,595 shares in the company, valued at $13,242,925. This trade represents a 32.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 108,800 shares of company stock valued at $25,016,566 over the last quarter. 0.40% of the stock is owned by company insiders.

Analyst Ratings Changes

PSX has been the subject of several recent analyst reports. Zacks Research upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 7th. Mizuho lowered shares of Phillips 66 from an “outperform” rating to a “neutral” rating and raised their price target for the company from $220.00 to $300.00 in a research report on Thursday, October 8th. Raymond James Financial restated an “outperform” rating and set a $335.00 price target on shares of Phillips 66 in a report on Monday, October 19th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $276.00 price objective on shares of Phillips 66 in a research report on Sunday, October 11th. Finally, Freedom Broker upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating and increased their price objective for the company from $173.00 to $258.00 in a research note on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus price target of $270.12.

Phillips 66 Stock Performance

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

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, October 28th. The oil and gas company reported $14.08 earnings per share for the quarter, topping the consensus estimate of $11.73 by $2.35. The company had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $44.91 billion. Phillips 66 had a return on equity of 33.12% and a net margin of 7.27%. During the same quarter in the prior year, the company earned $2.52 EPS. On average, analysts expect 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 authorizes the company to buy back $10 billion in shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 11.8% of its shares through open market purchases. Share repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 17th will be issued a $1.33 dividend. This is a boost 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 16.22%.

Key Phillips 66 News

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

Phillips 66 Profile

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.