Phillips 66 (NYSE:PSX) CFO Sells $4,140,000.00 in Stock

Phillips 66 (NYSE:PSX) CFO Kevin Mitchell sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the completion of the transaction, the chief financial officer owned 89,771 shares of the company’s stock, valued at $12,388,398. This trade represents a 25.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Phillips 66 Trading Up 0.4%

PSX traded up $0.61 during mid-day trading on Wednesday, reaching $141.46. The stock had a trading volume of 178,132 shares, compared to its average volume of 3,090,377. The firm’s fifty day simple moving average is $133.44 and its two-hundred day simple moving average is $125.46. The stock has a market capitalization of $57.00 billion, a P/E ratio of 38.65, a P/E/G ratio of 1.81 and a beta of 1.08. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $142.93. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.38. The business had revenue of $33.69 billion for the quarter, compared to analyst estimates of $32.29 billion. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.During the same quarter in the prior year, the firm posted $2.04 earnings per share. On average, equities analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be given a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 3.4%. Phillips 66’s payout ratio is currently 131.15%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PSX. Barclays increased their price objective on shares of Phillips 66 from $127.00 to $132.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Jefferies Financial Group lifted their price objective on Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. Mizuho upped their price objective on Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Monday, September 15th. Zacks Research lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 31st. Finally, UBS Group reaffirmed a “buy” rating and issued a $160.00 price target on shares of Phillips 66 in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $143.56.

Institutional Trading of Phillips 66

Several hedge funds have recently bought and sold shares of PSX. Brighton Jones LLC boosted its stake in Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after purchasing an additional 7,214 shares during the period. Ballentine Partners LLC raised its holdings in shares of Phillips 66 by 18.2% in the 1st quarter. Ballentine Partners LLC now owns 3,592 shares of the oil and gas company’s stock valued at $444,000 after purchasing an additional 552 shares during the period. CWM LLC raised its stake in Phillips 66 by 22.5% in the first quarter. CWM LLC now owns 37,800 shares of the oil and gas company’s stock valued at $4,668,000 after buying an additional 6,951 shares during the period. Signaturefd LLC raised its stake in Phillips 66 by 5.5% in the 1st quarter. Signaturefd LLC now owns 10,114 shares of the oil and gas company’s stock valued at $1,249,000 after acquiring an additional 525 shares during the period. Finally, Catalyst Financial Partners LLC bought a new position in shares of Phillips 66 in the first quarter valued at about $210,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.