Phillips 66 (NYSE:PSX) EVP Sells $1,200,000.00 in Stock

Phillips 66 (NYSE:PSX) EVP Don Baldridge sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the sale, the executive vice president owned 38,488 shares of the company’s stock, valued at approximately $6,158,080. The trade was a 16.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Phillips 66 Stock Performance

Shares of NYSE:PSX traded down $1.87 during trading on Thursday, hitting $155.53. 2,300,623 shares of the company were exchanged, compared to its average volume of 2,566,743. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $163.79. The stock has a 50 day moving average of $141.45 and a 200 day moving average of $135.60. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.23 and a quick ratio of 0.87. The company has a market cap of $62.67 billion, a PE ratio of 14.37, a P/E/G ratio of 0.55 and a beta of 0.90.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.32. The company had revenue of $32.16 billion for the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a return on equity of 9.28% and a net margin of 3.22%.During the same quarter last year, the business posted ($0.15) earnings per share. As a group, equities research analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd will be paid a dividend of $1.27 per share. This is a positive change from Phillips 66’s previous quarterly dividend of $1.20. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, February 23rd. Phillips 66’s payout ratio is 46.95%.

Institutional Investors Weigh In On Phillips 66

Several institutional investors have recently added to or reduced their stakes in PSX. Clifford Group LLC grew its holdings in Phillips 66 by 2.0% during the 4th quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock worth $428,000 after acquiring an additional 64 shares in the last quarter. CYBER HORNET ETFs LLC lifted its stake in Phillips 66 by 5.7% in the fourth quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company’s stock valued at $158,000 after buying an additional 66 shares during the last quarter. GHP Investment Advisors Inc. raised its position in Phillips 66 by 2.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock valued at $414,000 after purchasing an additional 72 shares during the last quarter. Johnson Financial Group Inc. boosted its stake in shares of Phillips 66 by 11.9% during the fourth quarter. Johnson Financial Group Inc. now owns 679 shares of the oil and gas company’s stock worth $88,000 after buying an additional 72 shares during the period. Finally, L2 Asset Management LLC lifted its position in Phillips 66 by 4.0% during the 3rd quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock worth $257,000 after acquiring an additional 72 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Mizuho boosted their price target on Phillips 66 from $150.00 to $152.00 and gave the company a “neutral” rating in a research note on Monday, January 12th. Citigroup upped their price objective on Phillips 66 from $146.00 to $159.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. BMO Capital Markets reiterated an “outperform” rating and set a $170.00 target price on shares of Phillips 66 in a research report on Friday, February 6th. Piper Sandler boosted their price target on Phillips 66 from $153.00 to $156.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Finally, Jefferies Financial Group increased their price objective on shares of Phillips 66 from $137.00 to $149.00 and gave the company a “hold” rating in a report on Monday, January 26th. Ten research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $158.72.

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.