Investors Sell Phillips 66 (PSX) on Strength (PSX)
Traders sold shares of Phillips 66 (NYSE:PSX) on strength during trading on Tuesday. $72.84 million flowed into the stock on the tick-up and $88.00 million flowed out of the stock on the tick-down, for a money net flow of $15.16 million out of the stock. Of all equities tracked, Phillips 66 had the 0th highest net out-flow for the day. Phillips 66 traded up $1.89 for the day and closed at $76.15
A number of research firms have weighed in on PSX. Vetr raised Phillips 66 from a “buy” rating to a “strong-buy” rating and set a $93.62 target price for the company in a report on Monday, May 2nd. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Phillips 66 in a report on Sunday, June 12th. Barclays PLC reduced their target price on Phillips 66 from $97.00 to $93.00 and set an “overweight” rating for the company in a report on Monday, May 2nd. Goldman Sachs Group Inc. reaffirmed a “sell” rating on shares of Phillips 66 in a report on Wednesday, June 29th. Finally, Scotiabank lowered Phillips 66 from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $90.00 to $89.00 in a report on Monday, July 11th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $86.90.
The firm’s 50 day moving average is $77.07 and its 200 day moving average is $80.85. The company has a market capitalization of $39.81 billion and a PE ratio of 13.18.
Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, July 29th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.01. During the same period in the prior year, the company posted $1.83 EPS. Analysts forecast that Phillips 66 will post $3.70 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Thursday, August 18th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.31%. The ex-dividend date is Tuesday, August 16th.
In other news, major shareholder Berkshire Hathaway Inc purchased 824,630 shares of the business’s stock in a transaction on Monday, May 23rd. The stock was acquired at an average price of $77.79 per share, for a total transaction of $64,147,967.70. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Greg C. Garland sold 62,500 shares of the firm’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $79.95, for a total value of $4,996,875.00. Following the transaction, the chief executive officer now owns 146,660 shares of the company’s stock, valued at approximately $11,725,467. The disclosure for this sale can be found here.
Other institutional investors have recently added to or reduced their stakes in the company. I.G. Investment Management LTD. boosted its position in Phillips 66 by 322.8% in the fourth quarter. I.G. Investment Management LTD. now owns 855,098 shares of the company’s stock valued at $69,947,000 after buying an additional 652,866 shares in the last quarter. Morgan Stanley boosted its position in Phillips 66 by 14.4% in the fourth quarter. Morgan Stanley now owns 5,166,371 shares of the company’s stock valued at $422,609,000 after buying an additional 649,505 shares in the last quarter. Airain ltd purchased a new position in Phillips 66 during the fourth quarter valued at $12,755,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Phillips 66 by 7.3% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,692,839 shares of the company’s stock valued at $138,830,000 after buying an additional 115,622 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Phillips 66 by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,885,368 shares of the company’s stock valued at $399,627,000 after buying an additional 104,174 shares in the last quarter.
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing, and specialties businesses. The Company operates its business through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment includes its equity investment in DCP Midstream , LLC (DCP Midstream) and its investment in Phillips 66 Partners LP.
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