Phillips 66 (NYSE:PSX) CFO Kevin Mitchell Sells 600 Shares

Phillips 66 (NYSE:PSX) CFO Kevin Mitchell sold 600 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $171.56, for a total transaction of $102,936.00. Following the completion of the sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $16,705,826.56. This represents a 0.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Phillips 66 Trading Up 0.1%

PSX stock traded up $0.25 during trading on Tuesday, hitting $175.61. The company had a trading volume of 3,255,431 shares, compared to its average volume of 2,994,702. The firm has a 50-day moving average price of $169.65 and a 200-day moving average price of $150.82. Phillips 66 has a 12 month low of $109.75 and a 12 month high of $190.61. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The stock has a market cap of $70.41 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 0.26 and a beta of 0.70.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. The firm 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 quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company earned ($0.90) EPS. As a group, analysts predict that Phillips 66 will post 17.39 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be issued a $1.27 dividend. The ex-dividend date is Monday, May 18th. This represents a $5.08 annualized dividend and a yield of 2.9%. Phillips 66’s dividend payout ratio (DPR) is currently 50.05%.

Hedge Funds Weigh In On Phillips 66

A number of hedge funds and other institutional investors have recently made changes to their positions in PSX. Brighton Jones LLC grew its stake in Phillips 66 by 238.5% in the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after acquiring an additional 7,214 shares during the period. Woodline Partners LP lifted its holdings in shares of Phillips 66 by 40.7% during the 1st quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock valued at $4,308,000 after purchasing an additional 10,089 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Phillips 66 by 28.3% during the 2nd quarter. Sei Investments Co. now owns 157,455 shares of the oil and gas company’s stock valued at $18,788,000 after purchasing an additional 34,698 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Phillips 66 by 9.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 346,679 shares of the oil and gas company’s stock valued at $41,359,000 after purchasing an additional 28,988 shares during the period. Finally, Glenview Trust co increased its stake in Phillips 66 by 2.6% during the 2nd quarter. Glenview Trust co now owns 8,949 shares of the oil and gas company’s stock worth $1,068,000 after purchasing an additional 229 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wall Street Zen raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. The Goldman Sachs Group lifted their price target on shares of Phillips 66 from $186.00 to $192.00 and gave the stock a “neutral” rating in a research report on Friday, April 10th. Barclays boosted their price target on shares of Phillips 66 from $158.00 to $177.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 8th. Wolfe Research increased their price objective on shares of Phillips 66 from $187.00 to $193.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Finally, Piper Sandler raised their price objective on shares of Phillips 66 from $168.00 to $177.00 and gave the company a “neutral” rating in a research note on Wednesday, April 8th. Two investment 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.