Kevin Mitchell Sells 600 Shares of Phillips 66 (NYSE:PSX) Stock

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

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $171.86 on Thursday. The business has a 50-day moving average price of $170.32 and a two-hundred day moving average price of $151.38. Phillips 66 has a 1-year low of $109.75 and a 1-year high of $190.61. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The company has a market cap of $68.90 billion, a P/E ratio of 16.93, a PEG ratio of 0.26 and a beta of 0.70.

Phillips 66 (NYSE:PSX) last announced 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. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. During the same quarter in the prior year, the company earned ($0.90) EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, analysts anticipate that Phillips 66 will post 17.39 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be given a dividend of $1.27 per share. The ex-dividend date of this dividend 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 50.05%.

More Phillips 66 News

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

• Positive Sentiment: BMO Capital Markets raised its price target on Phillips 66 to $215 from $195 and reiterated an outperform rating, signaling confidence in additional upside for the stock. BMO Capital adjusts price target on Phillips 66 to $215 from $195
• Positive Sentiment: The company also announced a leadership update, appointing Greg Hayes as lead independent director, which may be viewed as a governance-positive move. Phillips 66 Appoints Greg Hayes as Lead Independent Director
• Neutral Sentiment: Phillips 66 CFO Kevin Mitchell disclosed a stock sale of 600 shares, a relatively small transaction that may not materially change the investment outlook, but insider selling can still weigh on sentiment. Phillips 66 CFO Sells $102,936.00 in Stock
• Negative Sentiment: More broadly, the CFO also recently sold a larger block of shares, which investors may read as a sign of limited near-term conviction despite the company’s strong recent share-price run. Phillips 66 CFO Sells $102,936.00 in Stock

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Barclays raised their price target on shares of Phillips 66 from $158.00 to $177.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 8th. Zacks Research raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Jefferies Financial Group cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Weiss Ratings lowered Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Finally, BMO Capital Markets boosted their price target on shares of Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $185.61.

Institutional Investors Weigh In On Phillips 66

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Phillips 66 by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company’s stock valued at $6,701,052,000 after purchasing an additional 205,480 shares in the last quarter. State Street Corp increased its stake in Phillips 66 by 0.8% in the 4th quarter. State Street Corp now owns 23,589,550 shares of the oil and gas company’s stock valued at $3,043,996,000 after buying an additional 175,616 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Phillips 66 by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company’s stock worth $1,338,596,000 after buying an additional 45,340 shares in the last quarter. Norges Bank purchased a new position in shares of Phillips 66 in the 4th quarter worth approximately $640,206,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Phillips 66 by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,944,561 shares of the oil and gas company’s stock valued at $509,006,000 after acquiring an additional 89,621 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other 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.