Phillips 66 (NYSE:PSX) CFO Sells $102,936.00 in Stock

Phillips 66 (NYSE:PSX) CFO Kevin Mitchell sold 600 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $171.56, for a total value of $102,936.00. Following the completion of the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at approximately $16,705,826.56. This represents a 0.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Phillips 66 Stock Performance

Shares of PSX opened at $171.58 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The stock has a 50-day moving average of $170.56 and a 200-day moving average of $151.64. The company has a market cap of $68.79 billion, a PE ratio of 16.90, a P/E/G ratio of 0.26 and a beta of 0.70. Phillips 66 has a one year low of $109.75 and a one year high of $190.61.

Phillips 66 (NYSE:PSX) last issued its earnings results 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 during the quarter, compared to the consensus estimate of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the business posted ($0.90) EPS. On average, equities research analysts predict that Phillips 66 will post 17.39 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be paid a $1.27 dividend. The ex-dividend date is Monday, May 18th. This represents a $5.08 annualized dividend and a dividend yield of 3.0%. Phillips 66’s dividend payout ratio (DPR) is currently 50.05%.

Hedge Funds Weigh In On Phillips 66

Hedge funds have recently added to or reduced their stakes in the stock. NFSG Corp boosted its stake in Phillips 66 by 105.6% during the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Board of the Pension Protection Fund bought a new position in shares of Phillips 66 during the 4th quarter worth approximately $26,000. Accordant Advisory Group Inc lifted its position in shares of Phillips 66 by 900.0% during the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after buying an additional 180 shares in the last quarter. SWAN Capital LLC lifted its position in shares of Phillips 66 by 1,055.6% during the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after buying an additional 190 shares in the last quarter. Finally, Eagle Bay Advisors LLC bought a new position in shares of Phillips 66 during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Trending Headlines about Phillips 66

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

• Positive Sentiment: Argus raised its price target on Phillips 66 to $197 from $185 and reiterated a buy rating, suggesting meaningful upside from current levels.
• Positive Sentiment: BMO Capital Markets boosted its target to $215 from $195 and maintained an outperform rating, adding to the bullish analyst momentum around PSX.
• Positive Sentiment: Several recent reports argue Phillips 66 may be entering a new refining upcycle, which is supporting sentiment for downstream energy stocks. Article Title
• Positive Sentiment: Shareholders approved the board, executive compensation, and auditor at the annual meeting, and the company appointed Greg Hayes as lead independent director, both of which signal governance stability. Article Title
• Neutral Sentiment: CFO Kevin Mitchell disclosed the sale of 600 shares, which is a small insider transaction and not necessarily a major fundamental signal.
• Neutral Sentiment: Phillips 66 also recently highlighted a quarterly dividend of $1.27 per share, reinforcing the stock’s income appeal for investors.
• Negative Sentiment: Weiss Ratings downgraded Phillips 66 from buy to hold, which slightly offsets the otherwise constructive analyst backdrop.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Weiss Ratings downgraded Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Raymond James Financial raised their target price on Phillips 66 from $205.00 to $215.00 in a research note on Thursday, April 30th. Scotiabank lifted their price target on Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Barclays lifted their price target on Phillips 66 from $158.00 to $177.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. Finally, Argus lifted their price target on Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.28.

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.