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Phillips 66 Falls as Refining Trade Cools

Investivoq PriceTracker

Phillips 66 (PSX) is down 3.1% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears tied more to a cooling refiner trade than to any new company-specific setback. A recent analyst downgrade pointed to limited upside after a strong run in refining stocks, and Thursday’s fuel inventory data added pressure by showing a surprise gasoline build that weighed on gasoline futures and refining sentiment.

Details:

  • Mizuho downgraded Phillips 66 to Neutral from Outperform on October 8 while raising its price target, arguing that much of the earnings improvement for refiners had already been reflected in share prices.
  • U.S. government inventory data released Thursday showed gasoline stocks rising by about 3.5 million barrels, versus expectations for a draw, and gasoline futures extended losses after the report.
  • A widely followed crack spread index was down roughly 5.8% on October 15, suggesting some easing in the refining-margin backdrop that had fueled the sector’s recent rally.
  • Phillips 66 has not posted a fresh negative press release tied to operations or earnings this week, with its investor calendar instead showing third-quarter results scheduled for October 28.

    • Sources:

    Phillips 66 Investor Relations, BOE Report, Trading Economics, Yahoo Finance

    Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

    $PSX Insider Trading Activity

    PSX Insider Trades

    $PSX insiders have traded $PSX stock on the open market 15 times in the past 6 months. Of those trades, 1 have been purchases and 14 have been sales.

    Here’s a breakdown of recent trading of $PSX stock by insiders over the last 6 months:

    • VANESSA ALLEN SUTHERLAND (EVP, GC and Secretary) has made 0 purchases and 2 sales selling 4,086 shares for an estimated $7,435,346,883.
    • BRIAN MANDELL (Executive Vice President) has made 0 purchases and 3 sales selling 56,700 shares for an estimated $13,358,646.
    • RICHARD G HARBISON (EVP, Refining) sold 52,100 shares for an estimated $11,658,120
    • KEVIN J MITCHELL (Exec. VP and CFO) sold 11,021 shares for an estimated $2,094,285
    • ANN M KLUPPEL (SVP and Controller) has made 0 purchases and 4 sales selling 7,834 shares for an estimated $1,651,235.
    • LISA ANN DAVIS has made 0 purchases and 3 sales selling 1,515 shares for an estimated $314,712.
    • KEVIN OMAR MEYERS purchased 175 shares for an estimated $30,296

    To track insider transactions, check out Investivoq's insider trading dashboard. You can access data on insider stock transactions through the Investivoq API insider transaction endpoint.

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    $PSX Hedge Fund Activity

    We have seen 972 institutional investors add shares of $PSX stock to their portfolio, and 889 decrease their positions in their most recent quarter.

    Here are some of the largest recent moves:

    • HARRIS ASSOCIATES L P removed 7,376,537 shares (-80.8%) from their portfolio in Q2 2026, for an estimated $1,247,003,579
    • SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 4,088,240 shares (+inf%) to their portfolio in Q2 2026, for an estimated $691,116,972
    • BLACKROCK, INC. added 2,088,264 shares (+6.5%) to their portfolio in Q2 2026, for an estimated $353,021,029
    • JPMORGAN CHASE & CO added 1,934,094 shares (+inf%) to their portfolio in Q2 2026, for an estimated $326,958,590
    • WELLS FARGO & COMPANY/MN removed 1,308,614 shares (-9.5%) from their portfolio in Q2 2026, for an estimated $221,221,196
    • AQR CAPITAL MANAGEMENT LLC added 1,105,984 shares (+32.7%) to their portfolio in Q2 2026, for an estimated $186,966,595
    • VESTOR CAPITAL, LLC added 1,064,886 shares (+45860.7%) to their portfolio in Q2 2026, for an estimated $180,018,978

    To track hedge funds' stock portfolios, check out Investivoq's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Investivoq API 13F endpoint.

    $PSX Price Targets

    Multiple analysts have issued price targets for $PSX recently. We have seen 7 analysts offer price targets for $PSX in the last 6 months, with a median target of $207.0.

    Here are some recent targets:

    • Theresa Chen from Barclays set a target price of $183.0 on 07/09/2026
    • Lloyd Byrne from Jefferies set a target price of $207.0 on 07/09/2026
    • Jason Gabelman from TD Cowen set a target price of $220.0 on 06/29/2026
    • Erin Wright from Morgan Stanley set a target price of $196.0 on 06/12/2026
    • Nitin Kumar from Mizuho set a target price of $212.0 on 05/27/2026
    • Neil Mehta from Goldman Sachs set a target price of $207.0 on 05/20/2026
    • Betty Zhang from Scotiabank set a target price of $151.0 on 04/22/2026

    This article is not financial advice. See Investivoq's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.