Phillips 66 (NYSE:PSX) Shares Down 6.6% – Time to Sell?

Phillips 66 (NYSE:PSX) shares traded down 6.6% during mid-day trading on Tuesday . The company traded as low as $131.93 and last traded at $132.1360. 2,736,900 shares traded hands during mid-day trading, a decline of 9% from the average session volume of 3,017,037 shares. The stock had previously closed at $141.51.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PSX. Bank of America downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and increased their target price for the company from $144.00 to $147.00 in a research report on Wednesday, September 3rd. Morgan Stanley boosted their target price on Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a report on Friday, October 3rd. Wolfe Research raised their price target on Phillips 66 from $158.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, December 5th. Zacks Research cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 31st. Finally, Mizuho raised their target price on shares of Phillips 66 from $145.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, Phillips 66 has a consensus rating of “Hold” and an average target price of $148.35.

Phillips 66 Stock Down 6.9%

The firm has a 50 day moving average of $135.84 and a two-hundred day moving average of $129.66. The stock has a market capitalization of $53.06 billion, a PE ratio of 35.98, a P/E/G ratio of 0.74 and a beta of 0.92. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data 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 the consensus estimate of $32.29 billion. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.During the same period in the prior year, the business earned $2.04 earnings per share. Equities research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were issued a dividend of $1.20 per share. The ex-dividend date was Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 3.6%. Phillips 66’s payout ratio is presently 131.15%.

Insider Transactions at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the sale, the executive vice president directly owned 34,587 shares in the company, valued at $4,842,180. This trade represents a 11.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Brian Mandell sold 25,500 shares of Phillips 66 stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $140.04, for a total value of $3,571,020.00. Following the sale, the executive vice president owned 56,838 shares in the company, valued at $7,959,593.52. This represents a 30.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 86,093 shares of company stock valued at $11,933,256 over the last quarter. Company insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Hudson Bay Capital Management LP bought a new stake in Phillips 66 during the third quarter valued at $361,000. Allworth Financial LP boosted its holdings in shares of Phillips 66 by 11.2% in the 3rd quarter. Allworth Financial LP now owns 18,414 shares of the oil and gas company’s stock valued at $2,505,000 after buying an additional 1,855 shares during the period. IFP Advisors Inc raised its stake in Phillips 66 by 7.0% during the third quarter. IFP Advisors Inc now owns 8,294 shares of the oil and gas company’s stock worth $1,128,000 after acquiring an additional 545 shares during the period. Swiss Life Asset Management Ltd lifted its holdings in Phillips 66 by 16.5% in the third quarter. Swiss Life Asset Management Ltd now owns 57,476 shares of the oil and gas company’s stock worth $7,818,000 after acquiring an additional 8,134 shares during the last quarter. Finally, Investment Research Partners LLC acquired a new position in Phillips 66 in the third quarter valued at approximately $375,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

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.