Phillips 66 (NYSE:PSX) CFO Kevin Mitchell Sells 15,629 Shares

Phillips 66 (NYSE:PSX) CFO Kevin Mitchell sold 15,629 shares of the firm’s stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $190.07, for a total transaction of $2,970,604.03. Following the completion of the sale, the chief financial officer owned 97,376 shares in the company, valued at $18,508,256.32. This represents a 13.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Phillips 66 Price Performance

Shares of NYSE:PSX traded up $1.49 during trading on Thursday, hitting $177.13. 582,292 shares of the company were exchanged, compared to its average volume of 3,066,540. The business’s 50 day moving average is $161.72 and its 200-day moving average is $144.41. The company has a market capitalization of $70.98 billion, a P/E ratio of 16.42, a price-to-earnings-growth ratio of 0.34 and a beta of 0.76. The company has a quick ratio of 0.91, a current ratio of 1.30 and a debt-to-equity ratio of 0.62. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $190.61.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.32. The company had revenue of $32.16 billion for the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.During the same quarter last year, the business posted ($0.15) EPS. Equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were paid a dividend of $1.27 per share. The ex-dividend date of this dividend was Monday, February 23rd. This is a positive change from Phillips 66’s previous quarterly dividend of $1.20. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.9%. Phillips 66’s payout ratio is 46.95%.

Key Phillips 66 News

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Analyst upgrades and higher price targets: TD Cowen raised its price target to $213 and kept a “buy” rating, and Wells Fargo raised its target to $201 with an “overweight” rating — these calls imply further upside if the company meets expectations. TD Cowen price target raise Wells Fargo price target raise
• Positive Sentiment: Quarterly outlook is constructive: analysts expect a substantial (triple‑digit) jump in Q1 bottom‑line results, making the upcoming earnings report a potential catalyst for upside if Phillips 66 delivers. Q1 expectations
• Neutral Sentiment: Company‑specific move vs. market: coverage notes the stock fell while broader markets were up, suggesting today’s weakness is more company‑specific than market driven. Market context
• Negative Sentiment: Insider selling — CFO sold $2.97M in shares near the 52‑week high: Kevin Mitchell’s sizable sale and additional recent insider selling can trigger investor concern and selling pressure. CFO sale
• Negative Sentiment: Broader insider activity: reports show roughly $1.9M of insider sales over the past year, which some investors interpret as a signal of reduced insider conviction and can weigh on sentiment. Insider sales summary

Analysts Set New Price Targets

A number of research analysts recently issued reports on PSX shares. Mizuho raised their price objective on shares of Phillips 66 from $152.00 to $170.00 and gave the company a “neutral” rating in a report on Tuesday, March 17th. Wall Street Zen upgraded shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 14th. The Goldman Sachs Group raised their price target on shares of Phillips 66 from $168.00 to $186.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Barclays set a $158.00 price target on shares of Phillips 66 in a report on Friday, February 20th. Finally, Wolfe Research boosted their price objective on shares of Phillips 66 from $159.00 to $164.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.56.

Institutional Trading of Phillips 66

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PSX. Vanguard Group Inc. boosted its stake in shares of Phillips 66 by 11.6% in the 3rd quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company’s stock valued at $7,035,574,000 after purchasing an additional 5,356,558 shares during the last quarter. Norges Bank bought a new position in Phillips 66 during the fourth quarter worth $640,206,000. Elliott Investment Management L.P. raised its stake in Phillips 66 by 22.4% during the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock worth $2,296,644,000 after buying an additional 3,526,000 shares during the last quarter. M&T Bank Corp lifted its holdings in Phillips 66 by 462.9% in the fourth quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock valued at $352,007,000 after buying an additional 2,243,268 shares during the period. Finally, AQR Capital Management LLC boosted its position in Phillips 66 by 424.7% during the third quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock valued at $257,512,000 after acquiring an additional 1,532,389 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

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.