Greg C. Garland Sells 76,165 Shares of Phillips 66 (PSX) Stock
Phillips 66 (NYSE:PSX) Chairman Greg C. Garland sold 76,165 shares of Phillips 66 stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $83.48, for a total transaction of $6,358,254.20. Following the sale, the chairman now directly owns 96,325 shares of the company’s stock, valued at approximately $8,041,211. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Phillips 66 (NYSE:PSX) opened at 83.70 on Wednesday. The firm has a 50 day moving average of $80.45 and a 200-day moving average of $78.90. The firm has a market cap of $43.60 billion, a P/E ratio of 21.92 and a beta of 1.35. Phillips 66 has a 12 month low of $71.74 and a 12 month high of $94.06.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, October 28th. The company reported $1.05 earnings per share for the quarter, beating the Zacks’ 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 last year, the business posted $3.02 EPS. On average, equities research analysts forecast that Phillips 66 will post $3.42 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 17th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.01%. Phillips 66’s payout ratio is 66.14%.
Several brokerages recently issued reports on PSX. Vetr lowered shares of Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $87.77 price objective on the stock. in a report on Monday, September 19th. Piper Jaffray Cos. lifted their price objective on shares of Phillips 66 from $68.00 to $74.00 and gave the company a “neutral” rating in a report on Monday, August 22nd. TheStreet lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Thursday, July 21st. Barclays PLC reissued an “equal weight” rating and set a $84.00 price objective (down from $86.00) on shares of Phillips 66 in a report on Monday, October 10th. Finally, Jefferies Group set a $72.00 price objective on shares of Phillips 66 and gave the company a “hold” rating in a report on Saturday, October 15th. Fourteen equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Phillips 66 currently has an average rating of “Hold” and an average price target of $86.12.
Large investors have recently made changes to their positions in the stock. Maryland Capital Management raised its stake in shares of Phillips 66 by 23.4% in the third quarter. Maryland Capital Management now owns 4,226 shares of the company’s stock worth $340,000 after buying an additional 801 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in Phillips 66 by 125.6% in the third quarter. Ameritas Investment Partners Inc. now owns 22,228 shares of the company’s stock worth $1,790,000 after buying an additional 12,377 shares during the period. Cognios Capital LLC increased its position in Phillips 66 by 0.4% in the third quarter. Cognios Capital LLC now owns 2,764 shares of the company’s stock worth $222,000 after buying an additional 10 shares during the period. Candriam Luxembourg S.C.A. increased its position in Phillips 66 by 23.3% in the third quarter. Candriam Luxembourg S.C.A. now owns 65,588 shares of the company’s stock worth $5,283,000 after buying an additional 12,407 shares during the period. Finally, Lombard Odier Asset Management Europe Ltd bought a new position in Phillips 66 during the third quarter worth approximately $661,000. Institutional investors and hedge funds own 69.64% of the company’s stock.
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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