Insider Selling: Phillips 66 (PSX) VP Sells $5,824,926.00 in Stock
Phillips 66 (NYSE:PSX) VP Lawrence Michael Ziemba sold 72,630 shares of the stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $80.20, for a total transaction of $5,824,926.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Shares of Phillips 66 (NYSE:PSX) opened at 82.73 on Tuesday. The stock has a market cap of $43.09 billion, a P/E ratio of 21.66 and a beta of 1.35. The stock has a 50 day moving average of $80.33 and a 200 day moving average of $78.89. Phillips 66 has a one year low of $71.74 and a one year high of $94.06.
Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, October 28th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.88 by $0.17. Phillips 66 had a net margin of 2.43% and a return on equity of 8.86%. During the same period in the prior year, the business earned $3.02 EPS. On average, analysts forecast that Phillips 66 will post $3.42 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 17th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend is Tuesday, November 15th. Phillips 66’s payout ratio is 66.14%.
Several equities research analysts have recently weighed in on PSX shares. Vetr upgraded shares of Phillips 66 from a “buy” rating to a “strong-buy” rating and set a $87.87 price objective for the company in a research report on Monday, September 12th. Piper Jaffray Cos. increased their price objective on shares of Phillips 66 from $68.00 to $74.00 and gave the stock a “neutral” rating in a research report on Monday, August 22nd. TheStreet upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Monday, August 29th. Goldman Sachs Group Inc. upgraded shares of Phillips 66 from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $74.00 to $85.00 in a research report on Thursday, September 29th. Finally, Jefferies Group started coverage on shares of Phillips 66 in a research report on Tuesday, August 23rd. They set a “hold” rating and a $72.00 price objective for the company. Fourteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Phillips 66 has a consensus rating of “Hold” and an average target price of $86.12.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Moors & Cabot Inc. increased its position in shares of Phillips 66 by 33.5% in the third quarter. Moors & Cabot Inc. now owns 8,841 shares of the company’s stock valued at $709,000 after buying an additional 2,221 shares during the last quarter. Baker Avenue Asset Management LP bought a new position in shares of Phillips 66 during the third quarter worth about $473,000. HBK Sorce Advisory LLC increased its position in shares of Phillips 66 by 9.9% in the third quarter. HBK Sorce Advisory LLC now owns 4,450 shares of the company’s stock worth $358,000 after buying an additional 401 shares during the last quarter. Clinton Group Inc. bought a new position in shares of Phillips 66 during the third quarter worth about $4,286,000. Finally, Ontario Teachers Pension Plan Board increased its position in shares of Phillips 66 by 5.8% in the third quarter. Ontario Teachers Pension Plan Board now owns 61,375 shares of the company’s stock worth $4,944,000 after buying an additional 3,392 shares during the last quarter. 69.64% of the stock is currently owned by institutional investors.
About Phillips 66
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing, and specialties businesses. The Company operates its business through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment includes its equity investment in DCP Midstream , LLC (DCP Midstream) and its investment in Phillips 66 Partners LP.
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