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 stock in a transaction on Friday, November 7th. The stock was sold at an average price of $138.00, for a total value of $4,140,000.00. Following the completion of the sale, the chief financial officer directly owned 89,771 shares in the company, valued at approximately $12,388,398. This represents a 25.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Phillips 66 Stock Performance

Shares of PSX opened at $142.27 on Friday. The company has a market cap of $57.33 billion, a price-to-earnings ratio of 38.87, a P/E/G ratio of 1.81 and a beta of 1.08. The business’s fifty day simple moving average is $133.96 and its two-hundred day simple moving average is $125.90. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $143.25. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.14 by $0.38. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.The company had revenue of $33.69 billion for the quarter, compared to analysts’ expectations of $32.29 billion. During the same period last year, the firm posted $2.04 earnings per share. Research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is presently 131.15%.

Institutional Investors Weigh In On Phillips 66

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Evolution Wealth Management Inc. purchased a new stake in shares of Phillips 66 in the second quarter worth $25,000. Wolff Wiese Magana LLC increased its stake in Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after buying an additional 82 shares in the last quarter. Pinpoint Asset Management Ltd bought a new stake in Phillips 66 during the first quarter valued at about $29,000. Winnow Wealth LLC purchased a new position in shares of Phillips 66 in the third quarter valued at about $36,000. Finally, Wealth Watch Advisors INC purchased a new stake in shares of Phillips 66 during the third quarter worth about $36,000. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PSX. Argus raised shares of Phillips 66 to a “strong-buy” rating in a report on Thursday, July 31st. Cowen reaffirmed a “buy” rating on shares of Phillips 66 in a research report on Thursday, October 30th. Wall Street Zen raised Phillips 66 from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Wells Fargo & Company increased their target price on Phillips 66 from $154.00 to $162.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, Mizuho boosted their price target on Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $144.25.

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.