Kevin Mitchell Sells 11,021 Shares of Phillips 66 (NYSE:PSX) Stock

Phillips 66 (NYSE:PSX) CFO Kevin Mitchell sold 11,021 shares of Phillips 66 stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $190.03, for a total transaction 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 $18,504,361.28. This trade represents a 10.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Phillips 66 Stock Performance

Shares of PSX traded up $9.64 during midday trading on Monday, hitting $198.00. 3,088,941 shares of the stock traded hands, compared to its average volume of 2,869,520. Phillips 66 has a 1-year low of $118.07 and a 1-year high of $198.58. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. The firm has a market capitalization of $79.39 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 0.25 and a beta of 0.69. The business’s 50 day moving average price is $176.38 and its two-hundred day moving average price is $163.20.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. The company had revenue of $32.54 billion during 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%.The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.90) EPS. Equities research analysts predict that Phillips 66 will post 19.3 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s dividend payout ratio (DPR) is currently 50.05%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Citigroup raised their target price on Phillips 66 from $159.00 to $183.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Guggenheim upgraded shares of Phillips 66 to an “outperform” rating in a research report on Wednesday, May 27th. Argus raised their price objective on shares of Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Finally, Piper Sandler lifted their target price on Phillips 66 from $168.00 to $177.00 and gave the stock a “neutral” rating in a report on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $194.89.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Board of the Pension Protection Fund bought a new stake in Phillips 66 in the fourth quarter worth $26,000. Accordant Advisory Group Inc raised its holdings in Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 180 shares in the last quarter. Eagle Bay Advisors LLC acquired a new stake in shares of Phillips 66 in the fourth quarter worth about $27,000. NFSG Corp lifted its position in shares of Phillips 66 by 105.6% in the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after buying an additional 75 shares during the last quarter. Finally, Axiom Investment Management LLC bought a new stake in shares of Phillips 66 during the 1st quarter worth about $27,000. 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.