Phillips 66 (NYSE:PSX) CFO Kevin Mitchell Sells 29,400 Shares

Phillips 66 (NYSE:PSX) CFO Kevin Mitchell sold 29,400 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the transaction, the chief financial officer owned 97,376 shares in the company, valued at approximately $16,553,920. This trade represents a 23.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Phillips 66 Stock Up 0.1%

Shares of PSX stock traded up $0.25 on Tuesday, hitting $175.61. The company’s stock had a trading volume of 3,255,431 shares, compared to its average volume of 2,994,702. The stock has a market capitalization of $70.41 billion, a price-to-earnings ratio of 17.30, a P/E/G ratio of 0.26 and a beta of 0.70. Phillips 66 has a fifty-two week low of $109.75 and a fifty-two week high of $190.61. The firm’s fifty day moving average price is $169.65 and its 200-day moving average price is $150.82. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating the consensus estimate of ($0.54) by $1.03. The company had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company earned ($0.90) earnings per share. Research analysts anticipate that Phillips 66 will post 17.39 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Monday, May 18th. Phillips 66’s payout ratio is presently 50.05%.

Institutional Investors Weigh In On Phillips 66

Large investors have recently bought and sold shares of the business. Board of the Pension Protection Fund bought a new position in Phillips 66 in the 4th quarter valued at $26,000. Accordant Advisory Group Inc lifted its position in Phillips 66 by 900.0% during the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after buying an additional 180 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in Phillips 66 during the 4th quarter worth about $27,000. NFSG Corp grew its holdings in Phillips 66 by 105.6% during the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Finally, SWAN Capital LLC increased its position in Phillips 66 by 1,055.6% in the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 190 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PSX has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. TD Cowen upped their price target on Phillips 66 from $155.00 to $213.00 and gave the company a “buy” rating in a report on Wednesday, April 1st. Wall Street Zen upgraded Phillips 66 from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. Argus increased their target price on Phillips 66 from $152.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Finally, Weiss Ratings lowered Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and an average target price of $184.50.

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.