Vanessa Allen Sutherland Sells 563 Shares of Phillips 66 (NYSE:PSX) Stock

Phillips 66 (NYSE:PSX) EVP Vanessa Allen Sutherland sold 563 shares of the stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $211.01, for a total transaction of $118,798.63. Following the completion of the sale, the executive vice president directly owned 31,060 shares in the company, valued at $6,553,970.60. This trade represents a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Vanessa Allen Sutherland also recently made the following trade(s):

• On Tuesday, July 21st, Vanessa Allen Sutherland sold 3,523 shares of Phillips 66 stock. The shares were sold at an average price of $211.05, for a total value of $743,529.15.

Phillips 66 Trading Up 0.5%

Shares of NYSE PSX opened at $206.97 on Thursday. 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 business’s 50 day moving average price is $184.11 and its 200-day moving average price is $169.90. Phillips 66 has a fifty-two week low of $118.07 and a fifty-two week high of $216.08. The company has a market cap of $82.98 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 0.16 and a beta of 0.69.

Phillips 66 (NYSE:PSX) last issued 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 firm 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%.Phillips 66’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company earned ($0.90) EPS. On average, sell-side analysts expect that Phillips 66 will post 22.43 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s dividend payout ratio (DPR) is 50.05%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Barclays raised their price target on shares of Phillips 66 from $177.00 to $183.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Piper Sandler reissued a “neutral” rating and issued a $208.00 price objective on shares of Phillips 66 in a research report on Thursday, July 23rd. Morgan Stanley raised their target price on shares of Phillips 66 from $180.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Zacks Research downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Wolfe Research increased their price objective on Phillips 66 from $187.00 to $193.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. One equities 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. According to MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $201.72.

Key Phillips 66 News

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

• Positive Sentiment: Energy-sector momentum: Energy stocks rallied late Wednesday, with the NYSE Energy Sector Index rising 2.3%, providing a favorable backdrop for refiners such as Phillips 66. Sector Update: Energy Stocks Gain Late Afternoon
• Positive Sentiment: Refining margins remain supportive: Iran-related supply disruptions and record crack spreads are improving the earnings outlook for U.S. refiners. Phillips 66 has also benefited from better recent results, shareholder returns and a quarterly dividend of $1.27, or $5.08 annualized. Phillips 66 Gains On Refining Strength, Is The Stock Fully Priced?
• Positive Sentiment: Potential asset-sale proceeds: Phillips 66 and Shell are reportedly considering selling their stakes in Explorer, which owns a major refined-products pipeline valued at approximately $3.5 billion. A transaction could unlock value and strengthen PSX’s balance sheet, although no deal is confirmed. Shell, Phillips 66 weigh sale of stakes in $3.5 billion US pipeline Explorer

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NFSG Corp raised its holdings in shares of Phillips 66 by 105.6% in 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 in the last quarter. Axiom Investment Management LLC purchased a new stake in shares of Phillips 66 in the 1st quarter worth approximately $27,000. Accordant Advisory Group Inc boosted its stake in shares of 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 purchasing an additional 180 shares in the last quarter. SWAN Capital LLC boosted its stake in shares of Phillips 66 by 1,055.6% during the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 190 shares in the last quarter. Finally, Eagle Bay Advisors LLC purchased a new position in Phillips 66 during the fourth quarter valued at approximately $27,000. 76.93% of the stock is currently owned by institutional investors.

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.