Thrivent Financial Reduces Stake in Phillips 66 by Selling Shares

On March 25, 2025, Thrivent Financial for Lutherans announced a reduction in its holdings of Phillips 66 (NYSE:PSX) by 27.2% in the fourth quarter of 2024. According to their recent Form 13F filing with the Securities and Exchange Commission (SEC), the company sold 17,537 shares during that quarter. After the sale, Thrivent Financial now owns 46,899 shares of the energy company, which were valued at approximately $5,425,000 by the end of the latest quarter.

In addition to Thrivent, several other institutional investors have also adjusted their positions in Phillips 66. NewEdge Wealth LLC increased its stake by 0.5% during the fourth quarter and now holds 15,199 shares worth about $1,732,000 after acquiring an additional 81 shares. JBR Co Financial Management Inc raised its position by 0.9%, owning 9,520 shares valued at $1,085,000 following a purchase of 85 shares. Furthermore, Nwam LLC and PFG Private Wealth Management LLC made similar adjustments, increasing their holdings by 2.2% and 7.7%, respectively. Institutional investors collectively own 76.93% of Phillips 66 stock.

Phillips 66 Stock Overview

As of the latest trading session, Phillips 66 shares opened at $126.56. The stock has recorded a low of $108.91 and a high of $174.08 over the past year. The company has a market capitalization of $51.60 billion, a P/E ratio of 25.62, and a price-to-earnings-growth ratio of 4.84. The business also shows a quick ratio of 0.83, a current ratio of 1.21, and a debt-to-equity ratio of 0.62.

Recent Earnings and Dividend Information

Phillips 66 recently released its quarterly earnings on January 31st, reporting a loss of $0.15 per share, which fell short of analysts’ expectations of $1.23 by $1.38. The company had a net margin of 1.46% and a return on equity of 8.58%. Last year, the company reported earnings of $3.09 per share for the same quarter. Analysts forecast that Phillips 66 will post an earnings per share (EPS) of 6.8 for the current year.

In addition, the company declared a quarterly dividend, which was paid on March 5th. Shareholders who were on record as of February 24th received a dividend of $1.15 per share, leading to an annualized dividend of $4.60 and a yield of 3.63%. The dividend payout ratio for Phillips 66 stands at 93.12%.

Analyst Ratings for Phillips 66

Many analysts have provided their insights on Phillips 66 stock. Wolfe Research upgraded the stock from a "peer perform" rating to an "outperform" rating with a price target of $143.00. Conversely, Piper Sandler downgraded the stock from a "strong buy" to a "hold" rating. Barclays increased their price target from $115.00 to $135.00, while Mizuho adjusted their target from $150.00 to $147.00, both maintaining a neutral outlook. Wells Fargo also raised their target to $162.00, labeling it as an "overweight" investment. Currently, the stock holds a consensus rating of "Moderate Buy" with an average target price of $147.54.

About Phillips 66

Phillips 66 is an energy manufacturing and logistics company with operations in the United States, the United Kingdom, Germany, and other countries. The company has four main segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). Its Midstream segment is responsible for transporting crude oil, delivering refined products, and providing storage services, among other activities.

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