Calamos Advisors LLC Sells 4,286 Shares of Phillips 66 $PSX

Calamos Advisors LLC lessened its stake in Phillips 66 (NYSE:PSX) by 5.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 67,875 shares of the oil and gas company’s stock after selling 4,286 shares during the quarter. Calamos Advisors LLC’s holdings in Phillips 66 were worth $11,474,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Aviance Capital Partners LLC increased its position in shares of Phillips 66 by 11.7% during the second quarter. Aviance Capital Partners LLC now owns 7,374 shares of the oil and gas company’s stock worth $1,247,000 after acquiring an additional 770 shares in the last quarter. Worth Financial Advisory Group LLC bought a new stake in Phillips 66 in the 2nd quarter valued at $860,000. Zhang Financial LLC lifted its position in Phillips 66 by 11.2% in the 2nd quarter. Zhang Financial LLC now owns 1,467 shares of the oil and gas company’s stock valued at $248,000 after acquiring an additional 148 shares in the last quarter. Almanack Investment Partners LLC. acquired a new position in Phillips 66 in the 2nd quarter worth $269,000. Finally, Lebenthal Global Advisors LLC boosted its stake in Phillips 66 by 4.6% in the 2nd quarter. Lebenthal Global Advisors LLC now owns 9,367 shares of the oil and gas company’s stock worth $1,583,000 after purchasing an additional 408 shares during the period. Institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on PSX. Zacks Research cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Wells Fargo & Company upped their price objective on Phillips 66 from $201.00 to $239.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. BMO Capital Markets upped their price objective on Phillips 66 from $195.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Guggenheim upgraded Phillips 66 to an “outperform” rating in a report on Wednesday, May 27th. Finally, Barclays lifted their target price on Phillips 66 from $183.00 to $216.00 and gave the company an “equal weight” rating in a research 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 given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $206.56.

Key Phillips 66 News

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

• Positive Sentiment: Takeover talks highlight strategic value. Phillips 66 and Marathon Petroleum reportedly discussed a potential combination valued at roughly $180 billion. Although the talks did not result in a deal, the discussions underscore PSX’s scale and could renew speculation about consolidation among U.S. refiners. Phillips 66 and Marathon Petroleum held takeover talks
• Positive Sentiment: Refining margins and shareholder returns remain supportive. Supply disruptions linked to the Iran conflict have lifted fuel margins, helping major refiners generate strong profits and increase buybacks and dividends. Phillips 66 has authorized a $10 billion repurchase program and pays a quarterly dividend of $1.27 per share. U.S. refiners ramp up buybacks as Iran war boosts fuel margins
• Positive Sentiment: Infrastructure expansion adds a longer-term growth angle. PSX, Kinder Morgan and HF Sinclair are advancing the approximately $5 billion Western Gateway refined-products pipeline, which is expected to improve market access and logistics flexibility. Phillips 66 and partners advance Western Gateway pipeline project
• Neutral Sentiment: Merger failure limits the immediate upside from consolidation. Antitrust concerns and operational complexity reportedly derailed the proposed Marathon Petroleum transaction. The outcome removes a near-term transformational catalyst, while the broader energy-sector rally and PSX’s premium valuation leave the stock more exposed to a reversal in refining margins. Reported Phillips 66 and Marathon Petroleum merger analysis
• Negative Sentiment: Heavy insider selling may weigh on sentiment. EVP Richard Harbison sold 52,100 shares for approximately $11.7 million, while EVP Brian Mandell sold 33,300 shares for about $7.2 million. The trades may be profit-taking after PSX’s strong rally, but they reduce insiders’ holdings and could raise short-term concerns about valuation. Richard Harbison sells Phillips 66 shares

Insider Buying and Selling

In other news, EVP Richard G. Harbison sold 52,100 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $223.76, for a total transaction of $11,657,896.00. Following the sale, the executive vice president owned 39,094 shares in the company, valued at $8,747,673.44. This represents a 57.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kevin J. Mitchell sold 11,021 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $190.03, for a total value of $2,094,320.63. Following the completion of the sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $18,504,361.28. The trade was a 10.17% 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. Insiders sold 100,507 shares of company stock worth $21,770,810 over the last 90 days. Company insiders own 0.40% of the company’s stock.

Phillips 66 Stock Up 0.3%

Phillips 66 stock opened at $233.29 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57. Phillips 66 has a 1-year low of $121.24 and a 1-year high of $236.14. The company has a fifty day simple moving average of $192.72 and a 200 day simple moving average of $175.95. The company has a market cap of $93.09 billion, a P/E ratio of 13.29, a price-to-earnings-growth ratio of 0.17 and a beta of 0.68.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.50 by $1.91. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.The business had revenue of $52.04 billion for the quarter, compared to the consensus estimate of $43.60 billion. During the same quarter in the previous year, the business earned $2.38 earnings per share. Research analysts anticipate that Phillips 66 will post 24.44 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a dividend of $1.27 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.2%. Phillips 66’s payout ratio is 28.95%.

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