Phillips 66 (NYSE:PSX) Director Buys $30,296.00 in Stock

Phillips 66 (NYSE:PSX) Director Kevin Omar Meyers purchased 175 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The shares were bought at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the purchase, the director directly owned 16,799 shares in the company, valued at $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Kevin Omar Meyers also recently made the following trade(s):

• On Tuesday, March 17th, Kevin Omar Meyers acquired 175 shares of Phillips 66 stock. The shares were acquired at an average cost of $173.20 per share, for a total transaction of $30,310.00.

Phillips 66 Stock Performance

Phillips 66 stock traded down $3.37 during midday trading on Thursday, hitting $168.35. 2,476,464 shares of the company’s stock were exchanged, compared to its average volume of 2,996,902. Phillips 66 has a 12-month low of $106.34 and a 12-month high of $190.61. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. The stock has a market cap of $67.50 billion, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 0.28 and a beta of 0.70. The firm’s 50 day simple moving average is $168.52 and its 200 day simple moving average is $149.92.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The company had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. During the same period last year, the firm posted ($0.90) EPS. Phillips 66’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts predict that Phillips 66 will post 16.85 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Monday, May 18th. Phillips 66’s dividend payout ratio (DPR) is presently 50.05%.

Wall Street Analyst Weigh In

PSX has been the topic of several research reports. Wall Street Zen raised shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. TD Cowen lifted their target price on shares of Phillips 66 from $155.00 to $213.00 and gave the company a “buy” rating in a report on Wednesday, April 1st. Raymond James Financial lifted their target price on shares of Phillips 66 from $205.00 to $215.00 in a report on Thursday, April 30th. BMO Capital Markets lifted their target price on shares of Phillips 66 from $175.00 to $195.00 and gave the company an “outperform” rating in a report on Tuesday, April 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $180.00 target price on shares of Phillips 66 in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $184.50.

Institutional Trading of Phillips 66

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Phillips 66 by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company’s stock valued at $6,701,052,000 after buying an additional 205,480 shares during the last quarter. State Street Corp grew its stake in Phillips 66 by 0.8% during the fourth quarter. State Street Corp now owns 23,589,550 shares of the oil and gas company’s stock worth $3,043,996,000 after buying an additional 175,616 shares during the period. Geode Capital Management LLC grew its stake in Phillips 66 by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company’s stock worth $1,338,596,000 after buying an additional 45,340 shares during the period. Norges Bank purchased a new stake in Phillips 66 during the fourth quarter worth approximately $640,206,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Phillips 66 by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,944,561 shares of the oil and gas company’s stock worth $509,006,000 after buying an additional 89,621 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

About Phillips 66

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.