Kevin Mitchell Sells 11,021 Shares of Phillips 66 (NYSE:PSX) Stock

Phillips 66 (NYSE:PSX) CFO Kevin Mitchell sold 11,021 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $190.03, for a total value of $2,094,320.63. Following the transaction, the chief financial officer owned 97,376 shares in the company, valued at approximately $18,504,361.28. This trade represents a 10.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Phillips 66 Stock Performance

Shares of Phillips 66 stock traded up $9.64 on Monday, reaching $198.00. The stock had a trading volume of 3,088,941 shares, compared to its average volume of 2,869,520. The business’s 50-day moving average price is $176.38 and its two-hundred day moving average price is $163.20. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. Phillips 66 has a fifty-two week low of $118.07 and a fifty-two week high of $198.58. The stock has a market cap of $79.39 billion, a P/E ratio of 19.51, a price-to-earnings-growth ratio of 0.25 and a beta of 0.69.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. During the same quarter in the previous year, the business earned ($0.90) EPS. The business’s revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts forecast that Phillips 66 will post 19.3 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a dividend of $1.27 per share. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 annualized dividend and a yield of 2.6%. Phillips 66’s dividend payout ratio is presently 50.05%.

Hedge Funds Weigh In On Phillips 66

Several hedge funds and other institutional investors have recently modified their holdings of PSX. NFSG Corp grew its position in Phillips 66 by 105.6% in the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 75 shares during the period. Axiom Investment Management LLC acquired a new position in Phillips 66 during the first quarter worth $27,000. Board of the Pension Protection Fund bought a new position in shares of Phillips 66 during the fourth quarter valued at $26,000. Accordant Advisory Group Inc lifted its holdings in shares of Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 180 shares during the period. Finally, SWAN Capital LLC boosted its stake in shares of 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 purchasing an additional 190 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PSX shares. Scotiabank upped their price target on Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Barclays boosted their target price on shares of Phillips 66 from $177.00 to $183.00 and gave the stock an “equal weight” rating in a research report on Thursday. The Goldman Sachs Group increased their price target on shares of Phillips 66 from $192.00 to $207.00 and gave the company a “neutral” rating in a report on Tuesday, May 19th. Citigroup upped their price objective on shares of Phillips 66 from $159.00 to $183.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Finally, UBS Group reiterated a “buy” rating and issued a $212.00 target price on shares of Phillips 66 in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $194.89.

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.