Traders Sell Phillips 66 (PSX) on Strength (PSX)
Investors sold shares of Phillips 66 (NYSE:PSX) on strength during trading on Tuesday. $23.61 million flowed into the stock on the tick-up and $34.98 million flowed out of the stock on the tick-down, for a money net flow of $11.37 million out of the stock. Of all companies tracked, Phillips 66 had the 0th highest net out-flow for the day. Phillips 66 traded up $0.02 for the day and closed at $77.98
Several research analysts recently weighed in on PSX shares. Citigroup Inc. downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $88.00 target price for the company. in a report on Wednesday, April 20th. Zacks Investment Research downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Tuesday, April 26th. Goldman Sachs Group Inc. reaffirmed a “sell” rating on shares of Phillips 66 in a report on Wednesday, April 27th. Vetr raised shares of 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. Finally, Barclays PLC dropped their target price on shares of Phillips 66 from $97.00 to $93.00 and set an “overweight” rating for the company in a report on Monday, May 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have given 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 price target of $86.94.
The stock has a market cap of $40.77 billion and a P/E ratio of 13.50. The firm has a 50 day moving average price of $76.78 and a 200-day moving average price of $80.83.
Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, July 29th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.01. During the same quarter in the previous year, the firm posted $1.83 earnings per share. On average, equities research analysts predict that Phillips 66 will post $3.29 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, August 16th. This represents a $2.52 dividend on an annualized basis and a yield of 3.23%.
In other news, President Timothy Garth Taylor sold 50,000 shares of the business’s stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $78.00, for a total transaction of $3,900,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Paula Ann Johnson sold 40,141 shares of the business’s stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $79.57, for a total transaction of $3,194,019.37. The disclosure for this sale can be found here.
Several hedge funds recently added to or reduced their stakes in the company. Affinity Investment Advisors LLC boosted its stake in Phillips 66 by 3.6% in the fourth quarter. Affinity Investment Advisors LLC now owns 210,053 shares of the company’s stock worth $17,182,000 after buying an additional 7,255 shares in the last quarter. Foresters Investment Management Company Inc. boosted its stake in Phillips 66 by 1.8% in the fourth quarter. Foresters Investment Management Company Inc. now owns 180,100 shares of the company’s stock worth $14,732,000 after buying an additional 3,200 shares in the last quarter. Buckingham Capital Management Inc. boosted its stake in Phillips 66 by 2.1% in the third quarter. Buckingham Capital Management Inc. now owns 23,319 shares of the company’s stock worth $1,792,000 after buying an additional 490 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake 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 worth $399,627,000 after buying an additional 104,174 shares in the last quarter. Finally, Matarin Capital Management LLC bought a new stake in Phillips 66 during the fourth quarter worth approximately $2,105,000.
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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