Phillips 66 (NYSE:PSX) Director Lisa Ann Davis Sells 3,800 Shares

Phillips 66 (NYSE:PSX) Director Lisa Ann Davis sold 3,800 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $174.37, for a total value of $662,606.00. Following the completion of the transaction, the director directly owned 8,701 shares in the company, valued at $1,517,193.37. This trade represents a 30.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Phillips 66 Stock Performance

Shares of PSX opened at $173.56 on Tuesday. The company has a market cap of $69.55 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 0.60 and a beta of 0.86. The business’s fifty day simple moving average is $152.11 and its two-hundred day simple moving average is $140.46. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $178.38. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.32. The firm had revenue of $32.16 billion during the quarter, compared to analysts’ expectations of $33.81 billion. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.During the same quarter in the previous year, the business earned ($0.15) earnings per share. Research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were given a $1.27 dividend. This is a positive change from Phillips 66’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $5.08 dividend on an annualized basis and a yield of 2.9%. Phillips 66’s payout ratio is presently 46.95%.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $170.00 price target on shares of Phillips 66 in a report on Friday, February 6th. Wolfe Research boosted their price objective on shares of Phillips 66 from $159.00 to $164.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Argus increased their price objective on shares of Phillips 66 from $152.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Mizuho raised their target price on shares of Phillips 66 from $150.00 to $152.00 and gave the stock a “neutral” rating in a report on Monday, January 12th. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $140.00 target price on shares of Phillips 66 in a research report on Friday, January 16th. Eleven equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $161.33.

Institutional Trading of Phillips 66

Several large investors have recently added to or reduced their stakes in the business. Evolution Wealth Management Inc. bought a new position in Phillips 66 in the second quarter worth approximately $25,000. Board of the Pension Protection Fund purchased a new stake in shares of Phillips 66 in the 4th quarter worth $26,000. Accordant Advisory Group Inc raised its holdings in Phillips 66 by 900.0% in the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 180 shares during the period. Eagle Bay Advisors LLC purchased a new position in Phillips 66 during the fourth quarter valued at $27,000. Finally, SWAN Capital LLC grew its holdings in Phillips 66 by 1,055.6% during the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 190 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.