Phillips 66 (NYSE:PSX) CFO Kevin Mitchell Sells 30,000 Shares of Stock

Phillips 66 (NYSE:PSX) CFO Kevin Mitchell sold 30,000 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $138.00, for a total value of $4,140,000.00. Following the completion of the transaction, the chief financial officer directly owned 89,771 shares in the company, valued at $12,388,398. This represents a 25.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Phillips 66 Stock Performance

Shares of PSX stock opened at $137.93 on Thursday. The firm has a 50 day moving average of $133.59 and a 200-day moving average of $125.55. The company has a market cap of $55.57 billion, a price-to-earnings ratio of 37.68, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $142.93.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.38. The firm had revenue of $33.69 billion during the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. During the same period in the previous year, the firm posted $2.04 earnings per share. On average, equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 3.5%. Phillips 66’s dividend payout ratio (DPR) is presently 131.15%.

Institutional Investors Weigh In On Phillips 66

A number of institutional investors have recently added to or reduced their stakes in the company. Elliott Investment Management L.P. boosted its holdings in shares of Phillips 66 by 1,929.0% in the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after purchasing an additional 14,950,000 shares during the period. Chronos Wealth Management LLC purchased a new position in Phillips 66 during the 2nd quarter worth $281,000. Sustainable Insight Capital Management LLC bought a new stake in Phillips 66 during the 1st quarter valued at $1,457,000. Evergreen Wealth Solutions LLC bought a new stake in Phillips 66 during the 1st quarter valued at $292,000. Finally, Jump Financial LLC lifted its holdings in shares of Phillips 66 by 307.1% in the 1st quarter. Jump Financial LLC now owns 11,276 shares of the oil and gas company’s stock worth $1,392,000 after buying an additional 8,506 shares during the period. 76.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on PSX. Wells Fargo & Company upped their price objective on shares of Phillips 66 from $154.00 to $162.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Raymond James Financial reissued an “outperform” rating and set a $150.00 target price (up from $145.00) on shares of Phillips 66 in a research report on Friday, October 17th. Jefferies Financial Group raised their price target on shares of Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Zacks Research downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 31st. Finally, Wall Street Zen raised Phillips 66 from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $143.56.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.