Phillips 66 (NYSE:PSX) EVP Sells $7,255,884.00 in Stock

by · The Markets Daily

Phillips 66 (NYSE:PSX – Get Free Report) EVP Brian Mandell sold 42,800 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $169.53, for a total transaction of $7,255,884.00. Following the completion of the sale, the executive vice president owned 61,595 shares in the company, valued at approximately $10,442,200.35. This trade represents a 41.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Phillips 66 Price Performance

Shares of NYSE PSX traded up $0.82 during mid-day trading on Monday, hitting $173.56. 3,140,300 shares of the company’s stock traded hands, compared to its average volume of 2,868,366. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.30 and a quick ratio of 0.91. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $178.38. The company’s 50-day moving average is $151.43 and its two-hundred day moving average is $140.17. The company has a market capitalization of $69.55 billion, a P/E ratio of 16.04, a PEG ratio of 0.60 and a beta of 0.86.

Phillips 66 (NYSE:PSX – Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.15 by $0.32. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.The company had revenue of $32.16 billion during the quarter, compared to analyst estimates of $33.81 billion. During the same quarter last year, the business posted ($0.15) earnings per share. On average, equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

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

Analysts Set New Price Targets

Several research firms recently weighed in on PSX. UBS Group restated a “buy” rating and set a $172.00 price target on shares of Phillips 66 in a report on Friday, February 6th. Scotiabank reiterated a “sector perform” rating and set a $140.00 price objective on shares of Phillips 66 in a research report on Friday, January 16th. Jefferies Financial Group reissued a “hold” rating and issued a $158.00 target price on shares of Phillips 66 in a research note on Friday, February 20th. Citigroup raised their target price on shares of Phillips 66 from $146.00 to $159.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Finally, Mizuho lifted their price target on shares of Phillips 66 from $150.00 to $152.00 and gave the stock a “neutral” rating in a research note on Monday, January 12th. Eleven research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $161.33.

Get Our Latest Stock Analysis on PSX

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Clifford Group LLC lifted its holdings in Phillips 66 by 2.0% during the 4th quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock valued at $428,000 after buying an additional 64 shares in the last quarter. CYBER HORNET ETFs LLC increased its position in shares of Phillips 66 by 5.7% during the fourth quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company’s stock worth $158,000 after acquiring an additional 66 shares during the period. GHP Investment Advisors Inc. increased its position in shares of Phillips 66 by 2.3% during the fourth quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock worth $414,000 after acquiring an additional 72 shares during the period. Johnson Financial Group Inc. raised its stake in shares of Phillips 66 by 11.9% during the fourth quarter. Johnson Financial Group Inc. now owns 679 shares of the oil and gas company’s stock valued at $88,000 after acquiring an additional 72 shares in the last quarter. Finally, L2 Asset Management LLC raised its stake in shares of Phillips 66 by 4.0% during the third quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock valued at $257,000 after acquiring an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

About Phillips 66

(Get Free Report)

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.

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