Investors Sell Phillips 66 (PSX) on Strength (PSX)
Traders sold shares of Phillips 66 (NYSE:PSX) on strength during trading on Wednesday. $28.01 million flowed into the stock on the tick-up and $49.44 million flowed out of the stock on the tick-down, for a money net flow of $21.43 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 $0.45 for the day and closed at $79.33
Several research analysts have commented on the stock. Scotiabank downgraded shares of Phillips 66 from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $90.00 to $89.00 in a research report on Monday, July 11th. Piper Jaffray Cos. boosted their price objective on shares of Phillips 66 from $68.00 to $74.00 and gave the company a “neutral” rating in a research report on Monday, August 22nd. Vetr restated a “strong-buy” rating on shares of Phillips 66 in a research report on Thursday, August 18th. TheStreet downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Thursday, July 21st. Finally, Morgan Stanley restated a “hold” rating on shares of Phillips 66 in a research report on Monday, August 1st. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company’s stock. Phillips 66 presently has a consensus rating of “Hold” and an average target price of $85.46.
The company has a market cap of $41.02 billion and a PE ratio of 13.58. The firm’s 50-day moving average is $77.09 and its 200 day moving average is $80.90.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.01. During the same quarter in the previous year, the firm posted $1.83 EPS. Equities research analysts forecast that Phillips 66 will post $3.35 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Tuesday, August 16th.
In related news, major shareholder Berkshire Hathaway Inc acquired 756,780 shares of the stock in a transaction dated Monday, June 13th. The shares were purchased at an average price of $79.59 per share, for a total transaction of $60,232,120.20. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William R. Loomis, Jr. acquired 12,680 shares of the stock in a transaction dated Monday, June 13th. The shares were bought at an average price of $78.87 per share, for a total transaction of $1,000,071.60. Following the transaction, the director now owns 12,680 shares in the company, valued at approximately $1,000,071.60. The disclosure for this purchase can be found here.
An institutional investor recently raised its position in Phillips 66 stock. Dimensional Fund Advisors LP raised its position in Phillips 66 (NYSE:PSX) by 2.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,885,368 shares of the company’s stock after buying an additional 104,174 shares during the period. Dimensional Fund Advisors LP owned 0.92% of Phillips 66 worth $399,627,000 as of its most recent filing with the SEC.
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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