Calamos Advisors LLC Buys 3,024 Shares of Phillips 66 $PSX

Calamos Advisors LLC grew its position in shares of Phillips 66 (NYSE:PSX) by 4.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,161 shares of the oil and gas company’s stock after acquiring an additional 3,024 shares during the quarter. Calamos Advisors LLC’s holdings in Phillips 66 were worth $13,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PSX. Norges Bank purchased a new stake in shares of Phillips 66 in the fourth quarter valued at about $640,206,000. M&T Bank Corp boosted its holdings in Phillips 66 by 462.9% during the fourth quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock worth $352,007,000 after purchasing an additional 2,243,268 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Phillips 66 by 424.7% during the third quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock worth $257,512,000 after purchasing an additional 1,532,389 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new stake in Phillips 66 in the 2nd quarter worth about $107,967,000. Finally, NewEdge Advisors LLC grew its position in Phillips 66 by 732.0% in the 4th quarter. NewEdge Advisors LLC now owns 996,955 shares of the oil and gas company’s stock worth $128,647,000 after purchasing an additional 877,131 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 News Roundup

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

• Positive Sentiment: Phillips 66’s refining network and access to low-cost crude are being highlighted as key advantages that could support long-term growth and stronger margins if fuel demand stays firm. Here’s Why Phillips 66’s Refining Strength Supports Long-Term Growth
• Positive Sentiment: Renewed Middle East tensions are tightening refined-product markets, which could lift crack spreads and improve profitability for refiners like Phillips 66. Renewed Middle East Tensions Threaten Supply: 3 Energy Stocks to Watch
• Positive Sentiment: Bloomberg reported that the recent surge in U.S. crude exports may last longer than expected, a favorable backdrop for the broader energy logistics and refining sector. Texas Port CEO Sees US Oil Exports Holding Above Prewar Levels
• Neutral Sentiment: Phillips 66 CFO Kevin Mitchell sold 11,021 shares under a pre-arranged Rule 10b5-1 trading plan, but he still retains a sizable personal stake, so the transaction appears more routine than alarming. Phillips 66’s CFO Cashed In Options but Kept an $18.3 Million Stake — Here’s What Investors Should Focus On Instead
• Neutral Sentiment: Analysts currently maintain a “Moderate Buy” consensus on PSX, with price targets that suggest expectations remain constructive but not euphoric. Phillips 66 (NYSE:PSX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Insider Activity at Phillips 66

In other news, Director Kevin Omar Meyers bought 175 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was acquired at an average cost of $173.12 per share, with a total value of $30,296.00. Following the completion of the transaction, the director directly owned 16,799 shares of the company’s stock, valued at $2,908,242.88. This represents a 1.05% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevin J. Mitchell sold 29,400 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $170.00, for a total value of $4,998,000.00. Following the completion of the sale, the chief financial officer owned 97,376 shares in the company, valued at approximately $16,553,920. The trade was a 23.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 41,021 shares of company stock worth $7,195,257. 0.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PSX has been the subject of several analyst reports. Weiss Ratings lowered shares of Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Wells Fargo & Company boosted their target price on Phillips 66 from $163.00 to $201.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. The Goldman Sachs Group upped their target price on Phillips 66 from $192.00 to $207.00 and gave the company a “neutral” rating in a report on Tuesday, May 19th. Citigroup increased their price target on Phillips 66 from $183.00 to $204.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, TD Cowen boosted their price objective on Phillips 66 from $213.00 to $220.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. One equities research 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. According to data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average price target of $196.06.

Phillips 66 Stock Performance

Shares of PSX stock opened at $201.41 on Wednesday. The firm has a market cap of $80.75 billion, a price-to-earnings ratio of 19.84, a P/E/G ratio of 0.27 and a beta of 0.69. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. Phillips 66 has a 52 week low of $118.07 and a 52 week high of $201.66. The firm’s 50-day simple moving average is $177.18 and its two-hundred day simple moving average is $164.20.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $35.86 billion. During the same period in the previous year, the company earned ($0.90) earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities analysts forecast that Phillips 66 will post 19.08 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a $1.27 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 annualized dividend and a yield of 2.5%. Phillips 66’s dividend payout ratio is presently 50.05%.

Phillips 66 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.