Investors Buy Shares of Phillips 66 (PSX) on Weakness
Traders bought shares of Phillips 66 (NYSE:PSX) on weakness during trading hours on Tuesday. $58.04 million flowed into the stock on the tick-up and $41.40 million flowed out of the stock on the tick-down, for a money net flow of $16.64 million into the stock. Of all stocks tracked, Phillips 66 had the 21st highest net in-flow for the day. Phillips 66 traded down ($1.86) for the day and closed at $76.72
A number of research analysts have commented on the company. Goldman Sachs Group Inc. restated a “sell” rating on shares of Phillips 66 in a research note on Wednesday, April 27th. Zacks Investment Research cut Phillips 66 from a “hold” rating to a “sell” rating in a research note on Tuesday, April 26th. Citigroup Inc. cut Phillips 66 from a “buy” rating to a “neutral” rating and set a $88.00 price target on the stock. in a research note on Wednesday, April 20th. Vetr upgraded Phillips 66 from a “buy” rating to a “strong-buy” rating and set a $95.50 price target on the stock in a research note on Monday, April 18th. Finally, Simmons decreased their price target on Phillips 66 from $74.00 to $68.00 in a research note on Tuesday, April 12th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $86.94.
The stock has a market cap of $40.11 billion and a P/E ratio of 13.28. The stock has a 50-day moving average of $76.92 and a 200 day moving average of $80.83.
Phillips 66 (NYSE:PSX) last posted its earnings results 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 last year, the business posted $1.83 EPS. On average, equities research analysts forecast that Phillips 66 will post $3.18 EPS for the current 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 issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 3.28%.
In other Phillips 66 news, Director William R. Loomis, Jr. bought 12,680 shares of Phillips 66 stock in a transaction that occurred on Monday, June 13th. The shares were acquired at an average price of $78.87 per share, for a total transaction of $1,000,071.60. Following the acquisition, the director now owns 12,680 shares of the company’s stock, valued at approximately $1,000,071.60. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Berkshire Hathaway Inc bought 469,604 shares of Phillips 66 stock in a transaction that occurred on Tuesday, June 7th. The shares were acquired at an average price of $80.18 per share, for a total transaction of $37,652,848.72. The disclosure for this purchase can be found here.
Several institutional investors have bought and sold shares of PSX. Suntrust Banks Inc. raised its position in Phillips 66 by 4.5% in the fourth quarter. Suntrust Banks Inc. now owns 103,456 shares of the company’s stock valued at $8,462,000 after buying an additional 4,412 shares during the last quarter. Advantus Capital Management Inc raised its position 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 in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Phillips 66 by 0.4% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 54,834 shares of the company’s stock worth $4,485,000 after buying an additional 199 shares in the last quarter. Andra AP fonden raised its position in shares of Phillips 66 by 2.6% in the fourth quarter. Andra AP fonden now owns 59,700 shares of the company’s stock worth $4,883,000 after buying an additional 1,500 shares in the last quarter. Finally, Strategic Global Advisors LLC raised its position in shares of Phillips 66 by 0.3% in the fourth quarter. Strategic Global Advisors LLC now owns 32,193 shares of the company’s stock worth $2,633,000 after buying an additional 99 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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