Phillips 66 (PSX) President Timothy Garth Taylor Sells 27,260 Shares
Phillips 66 (NYSE:PSX) President Timothy Garth Taylor sold 27,260 shares of the business’s stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $82.91, for a total transaction of $2,260,126.60. Following the sale, the president now owns 68,878 shares of the company’s stock, valued at $5,710,674.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Phillips 66 (NYSE:PSX) traded up 0.14% during mid-day trading on Friday, hitting $83.95. 908,056 shares of the company were exchanged. The company has a market cap of $43.73 billion, a price-to-earnings ratio of 21.98 and a beta of 1.35. The stock’s 50 day moving average is $80.62 and its 200-day moving average is $78.96. Phillips 66 has a 12-month low of $71.74 and a 12-month high of $94.06.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, October 28th. The company reported $1.05 EPS 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 earned $3.02 EPS. Equities research analysts predict that Phillips 66 will post $3.42 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 17th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 3.01%. Phillips 66’s payout ratio is 66.14%.
Several research firms have issued reports on PSX. Vetr downgraded shares of Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $87.77 price objective for the company. in a research note on Monday, September 19th. Piper Jaffray Cos. boosted their price objective on shares of Phillips 66 from $68.00 to $74.00 and gave the stock a “neutral” rating in a research note on Monday, August 22nd. TheStreet downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Thursday, July 21st. Barclays PLC reiterated an “equal weight” rating and set a $84.00 price objective (down from $86.00) on shares of Phillips 66 in a research note on Monday, October 10th. Finally, Jefferies Group set a $72.00 price objective on shares of Phillips 66 and gave the stock a “hold” rating in a research note on Saturday, October 15th. Fourteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock 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 company. Svenska Handelsbanken AB publ bought a new stake in shares of Phillips 66 during the third quarter valued at about $1,190,000. Cribstone Capital Management LLC bought a new stake in shares of Phillips 66 during the second quarter valued at about $114,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Phillips 66 by 2,762.7% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,460 shares of the company’s stock valued at $138,000 after buying an additional 1,409 shares during the last quarter. IndexIQ Advisors LLC increased its stake in shares of Phillips 66 by 115.2% in the third quarter. IndexIQ Advisors LLC now owns 1,511 shares of the company’s stock valued at $122,000 after buying an additional 809 shares during the last quarter. Finally, Argentus Capital Management LLC increased its stake in shares of Phillips 66 by 17.7% in the third quarter. Argentus Capital Management LLC now owns 1,579 shares of the company’s stock valued at $127,000 after buying an additional 237 shares during the last quarter. Institutional investors and hedge funds own 69.64% of the company’s stock.
Phillips 66 Company Profile
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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