Phillips 66 (NYSE:PSX) Stock Price Down 6.6% – Time to Sell?

Phillips 66 (NYSE:PSX)’s share price traded down 6.6% on Tuesday . The stock traded as low as $131.93 and last traded at $132.1360. 2,736,900 shares changed hands during mid-day trading, a decline of 9% from the average session volume of 3,017,037 shares. The stock had previously closed at $141.51.

Analyst Ratings Changes

Several research analysts have recently commented on the company. TD Cowen raised their price target on Phillips 66 from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Wall Street Zen upgraded Phillips 66 from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Jefferies Financial Group lifted their target price on Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Phillips 66 in a research report on Wednesday, October 8th. Finally, Bank of America cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $144.00 to $147.00 in a report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $148.35.

Phillips 66 Price Performance

The stock’s 50 day moving average is $135.80 and its two-hundred day moving average is $129.80. The stock has a market capitalization of $52.02 billion, a PE ratio of 35.28, a price-to-earnings-growth ratio of 0.69 and a beta of 0.92. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.23 and a quick ratio of 0.87.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.53%. The company had revenue of $33.69 billion during the quarter, compared to analysts’ expectations of $32.29 billion. During the same quarter in the previous year, the business posted $2.04 EPS. As a group, sell-side analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, November 17th. Phillips 66’s dividend payout ratio is currently 131.15%.

Insider Activity

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction on 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 transaction, the chief financial officer directly owned 89,771 shares of the company’s stock, valued at $12,388,398. This trade represents a 25.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Brian Mandell sold 26,200 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total value of $3,607,216.00. Following the transaction, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,825,455.84. The trade was a 31.55% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 86,093 shares of company stock worth $11,933,256. 0.22% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Phillips 66

Hedge funds have recently made changes to their positions in the business. Evolution Wealth Management Inc. purchased a new position in shares of Phillips 66 in the 2nd quarter valued at approximately $25,000. Wolff Wiese Magana LLC lifted its holdings in shares of Phillips 66 by 62.1% during the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 82 shares during the period. Webster Bank N. A. grew its position in Phillips 66 by 58.8% in the 2nd quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 100 shares during the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in Phillips 66 in the 2nd quarter valued at $32,000. Finally, Winnow Wealth LLC acquired a new position in Phillips 66 in the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

About Phillips 66

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.