Investors Sell Phillips 66 (PSX) on Strength (PSX)
Investors sold shares of Phillips 66 (NYSE:PSX) on strength during trading hours on Tuesday. $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 analysts have commented on the stock. JPMorgan Chase & Co. reissued a “hold” rating on shares of Phillips 66 in a research report on Sunday, June 12th. Morgan Stanley reissued a “hold” rating on shares of Phillips 66 in a research report on Monday, August 1st. Scotiabank lowered shares of Phillips 66 from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $90.00 to $89.00 in a research report on Monday, July 11th. Cowen and Company raised shares of Phillips 66 from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $76.15 to $92.00 in a research report on Wednesday, August 3rd. Finally, Zacks Investment Research lowered shares of Phillips 66 from a “hold” rating to a “strong sell” rating in a research report on Monday, July 4th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $85.46.
The stock’s 50 day moving average price is $77.04 and its 200-day moving average price is $80.91. The company has a market cap of $41.48 billion and a PE ratio of 13.73.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.01. During the same period last year, the company earned $1.83 earnings per share. Equities analysts expect that Phillips 66 will post $3.35 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Thursday, August 18th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Tuesday, August 16th.
In related news, CEO Greg C. Garland sold 62,500 shares of the company’s stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $79.95, for a total value of $4,996,875.00. Following the completion of the transaction, the chief executive officer now directly owns 146,660 shares of the company’s stock, valued at $11,725,467. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Berkshire Hathaway Inc purchased 83,466 shares of the stock in a transaction that occurred on Thursday, August 25th. The stock was acquired at an average cost of $78.29 per share, with a total value of $6,534,553.14. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake in Phillips 66 stock. Dimensional Fund Advisors LP boosted its position in shares of Phillips 66 (NYSE:PSX) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 about 0.92% of Phillips 66 worth $399,627,000 at the end of the most recent reporting period.
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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