Investors Sell Phillips 66 (PSX) on Strength (PSX)
Traders sold shares of Phillips 66 (NYSE:PSX) on strength during trading on Monday. $32.70 million flowed into the stock on the tick-up and $62.72 million flowed out of the stock on the tick-down, for a money net flow of $30.02 million out of the stock. Of all stocks tracked, Phillips 66 had the 0th highest net out-flow for the day. Phillips 66 traded up $0.30 for the day and closed at $78.58
Several equities analysts have commented on PSX shares. Barclays PLC dropped their target price on shares of Phillips 66 from $97.00 to $93.00 and set an “overweight” rating on the stock in a research report on Monday, May 2nd. Simmons dropped their target price on shares of Phillips 66 from $74.00 to $68.00 in a research report on Tuesday, April 12th. Vetr cut shares of Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $95.50 target price on the stock. in a research report on Monday, April 11th. Morgan Stanley cut shares of Phillips 66 from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $105.00 to $90.00 in a research report on Friday, June 17th. Finally, Goldman Sachs Group Inc. reissued a “sell” rating on shares of Phillips 66 in a research report on Wednesday, June 29th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. Phillips 66 has a consensus rating of “Hold” and an average target price of $86.94.
The company’s 50-day moving average price is $76.99 and its 200-day moving average price is $80.85. The stock has a market capitalization of $41.09 billion and a PE ratio of 13.60.
Phillips 66 (NYSE:PSX) last released its earnings results on Friday, July 29th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. During the same quarter in the prior year, the business posted $1.83 earnings per share. Equities research analysts anticipate that Phillips 66 will post $3.18 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th will be issued a $0.63 dividend. The ex-dividend date is Tuesday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 3.21%.
In other news, President Timothy Garth Taylor sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $78.00, for a total value of $3,900,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Berkshire Hathaway Inc bought 642,273 shares of the stock in a transaction dated Thursday, May 26th. The stock was purchased at an average price of $79.76 per share, with a total value of $51,227,694.48. The disclosure for this purchase can be found here.
Several large investors have recently added to or reduced their stakes in the company. Morgan Stanley raised its stake 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 during the period. Victory Capital Management Inc. raised its stake in shares of Phillips 66 by 3.5% in the fourth quarter. Victory Capital Management Inc. now owns 73,319 shares of the company’s stock worth $5,997,000 after buying an additional 2,505 shares during the last quarter. Advantus Capital Management Inc raised its stake in shares of Phillips 66 by 1.1% in the fourth quarter. Advantus Capital Management Inc now owns 45,396 shares of the company’s stock worth $3,713,000 after buying an additional 478 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Phillips 66 by 11.0% in the fourth quarter. Bank of Montreal Can now owns 344,386 shares of the company’s stock worth $28,171,000 after buying an additional 34,156 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Phillips 66 by 0.9% in the fourth quarter. Principal Financial Group Inc. now owns 639,944 shares of the company’s stock worth $52,345,000 after buying an additional 5,629 shares during 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.