Insider Selling: Phillips 66 (NYSE:PSX) CFO Sells $2,094,320.63 in Stock

Phillips 66 (NYSE:PSX) CFO Kevin Mitchell sold 11,021 shares of the business’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $190.03, for a total value of $2,094,320.63. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $18,504,361.28. This trade represents a 10.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $195.94 on Thursday. The firm’s 50 day simple moving average is $177.66 and its 200-day simple moving average is $164.68. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. Phillips 66 has a 12 month low of $118.07 and a 12 month high of $201.65. The stock has a market capitalization of $78.56 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 0.26 and a beta of 0.69.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating the consensus estimate of ($0.54) by $1.03. The company 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%.Phillips 66’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) earnings per share. Analysts expect that Phillips 66 will post 19.84 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s dividend payout ratio (DPR) is 50.05%.

Key Headlines Impacting Phillips 66

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

• Positive Sentiment: Phillips 66 continues to attract constructive analyst coverage, with recent price targets ranging from the high $180s to above $200, suggesting Wall Street still sees meaningful upside from current levels. Article Title
• Positive Sentiment: The company’s refining operations are still being viewed as a long-term strength, helped by low-cost crude access and an efficient network that could benefit if fuel demand and crack spreads improve. Article Title
• Positive Sentiment: Phillips 66 also has a recent quarterly dividend of $1.27 per share, underscoring continued cash-return strength for income-focused investors.

Institutional Trading of Phillips 66

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Phillips 66 by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company’s stock worth $6,701,052,000 after purchasing an additional 205,480 shares in the last quarter. State Street Corp raised its position in Phillips 66 by 0.8% in the 4th quarter. State Street Corp now owns 23,589,550 shares of the oil and gas company’s stock valued at $3,043,996,000 after purchasing an additional 175,616 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Phillips 66 by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company’s stock valued at $1,338,596,000 after buying an additional 45,340 shares during the period. Norges Bank purchased a new position in shares of Phillips 66 in the 4th quarter valued at about $640,206,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Phillips 66 by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,944,561 shares of the oil and gas company’s stock worth $509,006,000 after buying an additional 89,621 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PSX has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Scotiabank increased their price objective on shares of Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Mizuho upgraded shares of Phillips 66 from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $170.00 to $212.00 in a report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. boosted their target price on Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $196.06.

Phillips 66 Company Profile

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.