Phillips 66 (PSX) Insider Sells $6,496,441.38 in Stock
Phillips 66 (NYSE:PSX) insider Robert A. Herman sold 78,327 shares of Phillips 66 stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $82.94, for a total value of $6,496,441.38. Following the sale, the insider now owns 11,471 shares of the company’s stock, valued at $951,404.74. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of Phillips 66 (NYSE:PSX) traded up 0.84% during mid-day trading on Wednesday, reaching $83.08. The company’s stock had a trading volume of 4,999,416 shares. The firm has a market cap of $43.27 billion, a price-to-earnings ratio of 21.75 and a beta of 1.35. Phillips 66 has a 52-week low of $71.74 and a 52-week high of $93.00. The firm has a 50 day moving average price of $81.39 and a 200 day moving average price of $79.21.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, October 28th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.17. Phillips 66 had a return on equity of 8.86% and a net margin of 2.43%. During the same period in the previous year, the firm posted $3.02 EPS. On average, equities analysts predict that Phillips 66 will post $3.42 EPS for the current fiscal year.
The firm also recently declared 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 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Tuesday, November 15th. Phillips 66’s dividend payout ratio (DPR) is presently 66.14%.
A number of large investors have recently bought and sold shares of PSX. Aberdeen Asset Management PLC UK boosted its stake in Phillips 66 by 1.2% in the second quarter. Aberdeen Asset Management PLC UK now owns 269,229 shares of the company’s stock worth $21,361,000 after buying an additional 3,289 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in Phillips 66 by 9.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 732,963 shares of the company’s stock worth $58,153,000 after buying an additional 65,973 shares during the period. Bank of Montreal Can acquired a new stake in Phillips 66 during the second quarter worth $31,281,000. Todd Asset Management LLC boosted its stake in Phillips 66 by 8.6% in the second quarter. Todd Asset Management LLC now owns 579,706 shares of the company’s stock worth $45,994,000 after buying an additional 45,926 shares during the period. Finally, Creative Planning boosted its stake in Phillips 66 by 1.4% in the third quarter. Creative Planning now owns 80,260 shares of the company’s stock worth $6,465,000 after buying an additional 1,121 shares during the period. Institutional investors and hedge funds own 68.27% of the company’s stock.
Several brokerages have recently issued reports on PSX. Jefferies Group set a $72.00 price target on Phillips 66 and gave the company a “hold” rating in a report on Saturday, October 15th. Cowen and Company raised Phillips 66 from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $76.15 to $92.00 in a research note on Wednesday, August 3rd. Vetr downgraded Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $87.77 price objective on the stock. in a research note on Monday, September 19th. Barclays PLC reissued an “equal weight” rating and issued a $84.00 price objective (down from $86.00) on shares of Phillips 66 in a research note on Monday, October 10th. Finally, Zacks Investment Research raised Phillips 66 from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 28th. 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 stock. The company has a consensus rating of “Hold” and a consensus target price of $86.12.
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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