Insider Selling: Phillips 66 (NYSE:PSX) EVP Sells $6,450,000.00 in Stock

Phillips 66 (NYSE:PSX) EVP Brian Mandell sold 30,000 shares of Phillips 66 stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $215.00, for a total value of $6,450,000.00. Following the sale, the executive vice president directly owned 61,595 shares in the company, valued at approximately $13,242,925. This trade represents a 32.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Brian Mandell also recently made the following trade(s):

• On Monday, August 10th, Brian Mandell sold 3,300 shares of Phillips 66 stock. The stock was sold at an average price of $214.02, for a total value of $706,266.00.

Phillips 66 Stock Performance

Shares of NYSE:PSX traded up $1.73 during trading on Wednesday, hitting $226.09. 2,575,402 shares of the stock were exchanged, compared to its average volume of 2,831,277. The company has a market capitalization of $90.21 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 0.16 and a beta of 0.68. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.32. Phillips 66 has a 1-year low of $119.54 and a 1-year high of $226.60. The company’s fifty day simple moving average is $189.93 and its 200-day simple moving average is $174.32.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, beating analysts’ consensus estimates of $7.50 by $1.91. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.The business had revenue of $52.04 billion during the quarter, compared to analyst estimates of $43.60 billion. During the same period in the prior year, the company posted $2.38 earnings per share. Sell-side analysts expect that Phillips 66 will post 23.99 EPS for the current fiscal year.

Phillips 66 declared that its board has approved a share repurchase program on Friday, July 31st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the oil and gas company to repurchase up to 11.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66’s dividend payout ratio (DPR) is presently 28.95%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PSX shares. Wall Street Zen raised shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 26th. Zacks Research downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Argus upped their price objective on Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Guggenheim raised Phillips 66 to an “outperform” rating in a report on Wednesday, May 27th. Finally, Morgan Stanley raised their target price on Phillips 66 from $180.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $206.56.

Hedge Funds Weigh In On Phillips 66

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PSX. Eagle Bay Advisors LLC bought a new position in shares of Phillips 66 in the fourth quarter valued at approximately $27,000. NFSG Corp grew its position 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. Axiom Investment Management LLC acquired a new stake in Phillips 66 during the 1st quarter valued at $27,000. SWAN Capital LLC raised 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 purchasing an additional 190 shares during the last quarter. Finally, Compass Financial Management LLC bought a new position in Phillips 66 in the 2nd quarter valued at $28,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

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.