Phillips 66 (NYSE:PSX) EVP Brian Mandell Sells 3,300 Shares

Phillips 66 (NYSE:PSX) EVP Brian Mandell sold 3,300 shares of Phillips 66 stock in a transaction on Monday, August 10th. The shares were sold at an average price of $214.02, for a total transaction of $706,266.00. Following the completion of the transaction, the executive vice president owned 61,595 shares in the company, valued at approximately $13,182,561.90. This trade represents a 5.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Brian Mandell also recently made the following trade(s):

• On Tuesday, August 11th, Brian Mandell sold 30,000 shares of Phillips 66 stock. The stock was sold at an average price of $215.00, for a total value of $6,450,000.00.

Phillips 66 Trading Up 0.8%

Phillips 66 stock traded up $1.73 during midday trading on Wednesday, reaching $226.09. The stock had a trading volume of 2,575,402 shares, compared to its average volume of 2,831,277. The stock’s 50-day simple moving average is $189.93 and its 200 day simple moving average is $174.32. Phillips 66 has a twelve month low of $119.54 and a twelve month high of $226.60. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.32. The stock has a market capitalization of $90.21 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 0.16 and a beta of 0.68.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, topping the consensus estimate of $7.50 by $1.91. The company had revenue of $52.04 billion during the quarter, compared to analyst estimates of $43.60 billion. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.During the same period in the prior year, the firm posted $2.38 earnings per share. Analysts expect that Phillips 66 will post 23.99 EPS for the current year.

Phillips 66 announced that its Board of Directors has approved a stock repurchase plan on Friday, July 31st that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase up to 11.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a $1.27 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 annualized dividend and a yield of 2.2%. Phillips 66’s dividend payout ratio (DPR) is 28.95%.

Hedge Funds Weigh In On Phillips 66

Large investors have recently added to or reduced their stakes in the company. Key Client Fiduciary Advisors LLC lifted its position in Phillips 66 by 3.5% in the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 1,624 shares of the oil and gas company’s stock valued at $275,000 after purchasing an additional 55 shares during the last quarter. Threadgill Financial LLC raised its holdings in shares of Phillips 66 by 3.5% during the second quarter. Threadgill Financial LLC now owns 1,693 shares of the oil and gas company’s stock valued at $286,000 after buying an additional 58 shares during the last quarter. Calamos Wealth Management LLC boosted its position in shares of Phillips 66 by 2.0% during the second quarter. Calamos Wealth Management LLC now owns 3,084 shares of the oil and gas company’s stock worth $521,000 after buying an additional 60 shares during the period. Somerset Trust Co boosted its position in shares of Phillips 66 by 0.3% during the second quarter. Somerset Trust Co now owns 21,301 shares of the oil and gas company’s stock worth $3,601,000 after buying an additional 63 shares during the period. Finally, Clifford Group LLC grew its holdings in Phillips 66 by 2.0% in the 4th quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock worth $428,000 after buying an additional 64 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PSX has been the subject of a number of recent analyst reports. Zacks Research downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Phillips 66 in a report on Wednesday, July 29th. Scotiabank boosted their target price on shares of Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Citigroup restated a “neutral” rating on shares of Phillips 66 in a research note on Thursday, August 6th. Finally, Jefferies Financial Group increased their price target on shares of Phillips 66 from $191.00 to $207.00 and gave the stock a “hold” rating in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $206.56.

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.