Key Points
- Phillips 66 EVP Brian Mandell sold 23,400 shares for approximately $6.2 million, reducing his direct ownership by 27.5% to 61,595 shares.
- Phillips 66 reported strong quarterly results, with EPS of $9.41 beating estimates of $7.50 and revenue of $52.04 billion exceeding the $43.60 billion consensus.
- The company maintains shareholder-support initiatives, including a $10 billion share-buyback authorization and a quarterly dividend of $1.27 per share, while analysts hold a “Moderate Buy” consensus rating.
Phillips 66 (NYSE:PSX - Get Free Report) EVP Brian Mandell sold 23,400 shares of the stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $265.06, for a total value of $6,202,404.00. Following the sale, the executive vice president owned 61,595 shares of the company's stock, valued at approximately $16,326,370.70. The trade was a 27.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Brian Mandell also recently made the following trade(s):
- On Monday, August 10th, Brian Mandell sold 3,300 shares of Phillips 66 stock. The shares were sold at an average price of $214.02, for a total value of $706,266.00.
- On Tuesday, August 11th, Brian Mandell sold 30,000 shares of Phillips 66 stock. The shares were sold at an average price of $215.00, for a total value of $6,450,000.00.
Phillips 66 Trading Up 3.4%
NYSE PSX opened at $273.66 on Friday. The stock has a market capitalization of $109.20 billion, a P/E ratio of 15.59 and a beta of 0.71. The business has a 50 day simple moving average of $229.38 and a 200 day simple moving average of $192.83. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.32 and a quick ratio of 1.00. Phillips 66 has a one year low of $126.74 and a one year high of $274.21.
Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.50 by $1.91. The firm had revenue of $52.04 billion for the quarter, compared to analyst estimates of $43.60 billion. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.During the same period in the previous year, the firm earned $2.38 earnings per share. Research analysts expect that Phillips 66 will post 28.28 earnings per share for the current year.
Phillips 66 Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Tuesday, August 18th. Phillips 66's payout ratio is presently 28.95%.
Phillips 66 declared that its board has initiated a share buyback plan on Friday, July 31st that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 11.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its shares are undervalued.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on PSX. Weiss Ratings upgraded shares of Phillips 66 from a "hold (c)" rating to a "buy (b)" rating in a report on Wednesday, August 12th. Piper Sandler upped their price target on Phillips 66 from $209.00 to $264.00 and gave the stock a "neutral" rating in a research note on Thursday, September 3rd. Citigroup reissued a "neutral" rating on shares of Phillips 66 in a research note on Thursday, August 6th. BMO Capital Markets boosted their price objective on Phillips 66 from $260.00 to $310.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Barclays upped their target price on Phillips 66 from $183.00 to $216.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $237.35.
View Our Latest Report on PSX
Key Phillips 66 News
Here are the key news stories impacting Phillips 66 this week:
- Positive Sentiment: Phillips 66’s refining operations are benefiting from resilient margins, while its midstream business provides comparatively stable cash flow. This combination may help cushion the company from commodity-price volatility and support investor confidence. Phillips 66: Resilient Refining Meets Midstream Stability
- Positive Sentiment: PSX was identified as one of several stocks showing strong relative price performance amid rising interest rates and volatile markets, suggesting continued technical support and investor selectivity. 5 Relative Price Strength Stocks to Buy Amid Rising Rates
- Neutral Sentiment: Phillips 66 will release its third-quarter 2026 financial results and hold an investor webcast on October 28. The announcement itself does not change current earnings, but the event could become an important catalyst for the stock. Phillips 66 to announce third-quarter financial results
- Negative Sentiment: Executive Vice President Brian Mandell sold 23,400 shares for approximately $6.2 million, reducing his direct holdings by 27.5%. Although insider sales do not necessarily signal deteriorating fundamentals, the transaction may weigh modestly on sentiment. SEC insider ownership filing
- Negative Sentiment: Oil futures are reportedly in backwardation, indicating expectations for lower future prices. Demand destruction and increasing non-OPEC supply could weaken economic growth and reduce support for energy-sector valuations, while questions about labor issues at the Bayway refinery and whether PSX is becoming expensive add uncertainty. The Fed’s Rate Hike Could Backfire If Oil Prices Collapse
Institutional Investors Weigh In On Phillips 66
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Phillips 66 during the second quarter valued at about $5,766,779,000. Geode Capital Management LLC raised its stake in shares of Phillips 66 by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company's stock worth $1,338,596,000 after buying an additional 45,340 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Phillips 66 in the second quarter worth about $1,093,206,000. Norges Bank purchased a new position in shares of Phillips 66 during the 4th quarter valued at about $640,206,000. Finally, Amundi grew its stake in shares of Phillips 66 by 62.0% during the 1st quarter. Amundi now owns 3,667,451 shares of the oil and gas company's stock valued at $668,137,000 after acquiring an additional 1,403,493 shares during the period. Institutional investors and hedge funds own 76.93% of the company's stock.
Phillips 66 Company Profile
(
Get Free Report)
Phillips 66 (NYSE: PSX) is an energy company that operates across the midstream, chemicals, refining and marketing sectors. Headquartered in Houston, Texas, the company was established in 2012 when ConocoPhillips separated its downstream businesses into an independent company.
The company's midstream operations include transportation, processing, storage and other infrastructure for crude oil, natural gas and natural gas liquids. Phillips 66 also owns and operates refineries that process crude oil into transportation fuels, lubricants, specialty products and other refined petroleum products.
Phillips 66 markets gasoline, diesel and other fuels under the Phillips 66, Conoco and 76 brands, primarily in the United States.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
