Brian Mandell Sells 26,200 Shares of Phillips 66 (NYSE:PSX) Stock

Phillips 66 (NYSE:PSX) EVP Brian Mandell sold 26,200 shares of Phillips 66 stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total transaction of $3,607,216.00. Following the completion of the sale, the executive vice president directly owned 56,838 shares in the company, valued at $7,825,455.84. This trade represents a 31.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Phillips 66 Stock Performance

Phillips 66 stock traded down $2.41 during trading on Thursday, hitting $132.08. The stock had a trading volume of 2,154,919 shares, compared to its average volume of 3,084,505. The stock’s 50 day moving average is $134.28 and its two-hundred day moving average is $126.70. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $143.25. The stock has a market cap of $53.22 billion, a price-to-earnings ratio of 36.09, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60.

Phillips 66 (NYSE:PSX) last issued its earnings results 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. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.The firm had revenue of $33.69 billion for the quarter, compared to analyst estimates of $32.29 billion. During the same period in the previous year, the company posted $2.04 earnings per share. As a group, analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Monday, November 17th. Phillips 66’s payout ratio is currently 131.15%.

Analyst Ratings Changes

A number of brokerages have weighed in on PSX. Bank of America lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and increased their target price for the stock from $144.00 to $147.00 in a research report on Wednesday, September 3rd. Cowen reaffirmed a “buy” rating on shares of Phillips 66 in a report on Thursday, October 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Phillips 66 in a report on Wednesday, October 8th. Jefferies Financial Group raised their price target on Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Finally, Wells Fargo & Company lifted their price target on Phillips 66 from $154.00 to $162.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $145.71.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Evolution Wealth Management Inc. bought a new stake in Phillips 66 during the second quarter valued at approximately $25,000. Wolff Wiese Magana LLC raised its position in shares of Phillips 66 by 62.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 82 shares in the last quarter. Pinpoint Asset Management Ltd bought a new stake in shares of Phillips 66 during the 1st quarter worth $29,000. Winnow Wealth LLC purchased a new position in Phillips 66 in the third quarter worth $36,000. Finally, Wealth Watch Advisors INC bought a new position in Phillips 66 in the third quarter valued at $36,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

About Phillips 66

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.