Phillips 66 (NYSE:PSX) CFO Sells $4,170,300.00 in Stock

Phillips 66 (NYSE:PSX) CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the sale, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Phillips 66 Trading Up 1.1 %

Shares of NYSE:PSX opened at $133.90 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. The stock has a market capitalization of $56.77 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 2.41 and a beta of 1.34. Phillips 66 has a 1-year low of $107.85 and a 1-year high of $174.08. The company has a 50 day moving average price of $138.04 and a 200 day moving average price of $145.74.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.33. The business had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The company’s revenue was up 8.9% compared to the same quarter last year. During the same period last year, the company posted $3.87 EPS. On average, research analysts anticipate that Phillips 66 will post 9.53 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be paid a $1.15 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a yield of 3.44%. Phillips 66’s dividend payout ratio is currently 35.38%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Scotiabank cut their price target on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Wolfe Research began coverage on Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Raymond James raised their price target on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Mizuho reduced their price objective on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Thursday, June 20th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $157.38.

Institutional Trading of Phillips 66

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Phillips 66 by 4.0% during the first quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock valued at $6,741,218,000 after acquiring an additional 1,578,669 shares during the period. Wellington Management Group LLP raised its stake in Phillips 66 by 20.3% during the 4th quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after purchasing an additional 1,842,226 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Phillips 66 by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock valued at $1,189,035,000 after purchasing an additional 402,925 shares in the last quarter. Boston Partners boosted its position in shares of Phillips 66 by 41.4% in the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after buying an additional 1,595,722 shares during the period. Finally, Norges Bank purchased a new position in shares of Phillips 66 during the fourth quarter valued at $559,435,000. 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.