Cambria Investment Management L.P. Decreases Position in Phillips 66 $PSX

Cambria Investment Management L.P. decreased its position in shares of Phillips 66 (NYSE:PSX) by 6.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,520 shares of the oil and gas company’s stock after selling 4,434 shares during the quarter. Cambria Investment Management L.P.’s holdings in Phillips 66 were worth $8,776,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Elliott Investment Management L.P. lifted its stake in Phillips 66 by 22.4% during the 2nd quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock valued at $2,296,644,000 after acquiring an additional 3,526,000 shares during the period. Oppenheimer & Co. Inc. grew its stake in shares of Phillips 66 by 57.4% in the third quarter. Oppenheimer & Co. Inc. now owns 56,858 shares of the oil and gas company’s stock worth $7,734,000 after acquiring an additional 20,742 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in shares of Phillips 66 by 5.0% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 209,700 shares of the oil and gas company’s stock worth $28,523,000 after acquiring an additional 10,000 shares during the period. First National Bank of Omaha purchased a new position in shares of Phillips 66 during the third quarter valued at approximately $2,357,000. Finally, Vanguard Group Inc. raised its holdings in shares of Phillips 66 by 14.8% during the second quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock valued at $5,531,702,000 after purchasing an additional 5,978,841 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Up 0.2%

PSX stock opened at $173.14 on Thursday. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $178.38. The company has a quick ratio of 0.91, a current ratio of 1.30 and a debt-to-equity ratio of 0.62. The stock has a market cap of $69.38 billion, a P/E ratio of 16.00, a PEG ratio of 0.60 and a beta of 0.86. The business’s 50-day moving average price is $153.53 and its 200-day moving average price is $140.96.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.32. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. The company had revenue of $32.16 billion during the quarter, compared to analyst estimates of $33.81 billion. During the same period in the prior year, the firm posted ($0.15) EPS. On average, equities research analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were given a $1.27 dividend. The ex-dividend date was Monday, February 23rd. This is an increase from Phillips 66’s previous quarterly dividend of $1.20. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.9%. Phillips 66’s dividend payout ratio (DPR) is currently 46.95%.

Insider Transactions at Phillips 66

In other news, EVP Brian Mandell sold 42,800 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $169.53, for a total transaction of $7,255,884.00. Following the sale, the executive vice president directly owned 61,595 shares in the company, valued at $10,442,200.35. This trade represents a 41.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin J. Mitchell sold 16,856 shares of Phillips 66 stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $168.22, for a total transaction of $2,835,516.32. Following the transaction, the chief financial officer owned 97,376 shares in the company, valued at approximately $16,380,590.72. This trade represents a 14.76% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 84,688 shares of company stock valued at $14,066,145. Company insiders own 0.22% of the company’s stock.

Phillips 66 News Roundup

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

• Positive Sentiment: Jefferies upgraded PSX to “strong‑buy,” which can attract buyers and support near‑term momentum. Read More.
• Positive Sentiment: Phillips 66 recently raised its quarterly dividend to $1.27 (paid Mar 4), increasing yield and reinforcing the company’s cash‑return policy for income investors. Read More.
• Positive Sentiment: Director Kevin Omar Meyers purchased 175 shares (~$30k), a small insider buy that provides modest validation from management-level ownership. Read More.
• Neutral Sentiment: Mizuho raised its price target to $170 but kept a “neutral” rating—an adjustment that tracks higher prices but is not a clear catalyst. Read More.
• Neutral Sentiment: Management presented at the Piper Sandler energy conference; the transcript provides operational color for investors but contained no market‑moving surprises. Read More.
• Neutral Sentiment: Phillips 66 entered a 364‑day $2.25 billion term loan — a sizable short‑term funding action that supports liquidity but raises questions about near‑term debt rollover and cost. Read More.
• Negative Sentiment: Significant insider selling: EVP Brian Mandell disposed of ~42,800 shares (~$7.26M), a large sale that can weigh on sentiment and prompt investor caution. Read More.
• Negative Sentiment: Director Lisa Ann Davis sold 3,800 shares (~$662k), trimming her stake by ~30%, adding to visible insider exits this month. Read More.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of Phillips 66 from $140.00 to $147.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. Barclays set a $158.00 target price on shares of Phillips 66 in a research note on Friday, February 20th. TD Cowen restated a “buy” rating on shares of Phillips 66 in a research note on Friday, February 6th. Wolfe Research lifted their price objective on Phillips 66 from $159.00 to $164.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Finally, The Goldman Sachs Group upped their price objective on Phillips 66 from $168.00 to $186.00 and gave the company a “neutral” rating in a research report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.33.

About Phillips 66

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.