Kevin Omar Meyers Buys 175 Shares of Phillips 66 (NYSE:PSX) Stock

Phillips 66 (NYSE:PSX) Director Kevin Omar Meyers purchased 175 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was purchased at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the acquisition, the director owned 16,799 shares in the company, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Kevin Omar Meyers also recently made the following trade(s):

• On Tuesday, March 17th, Kevin Omar Meyers purchased 175 shares of Phillips 66 stock. The stock was purchased at an average cost of $173.20 per share, for a total transaction of $30,310.00.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $171.42 on Friday. The firm has a market cap of $68.73 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 0.25 and a beta of 0.70. Phillips 66 has a 12-month low of $109.39 and a 12-month high of $190.61. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The company’s fifty day simple moving average is $168.80 and its two-hundred day simple moving average is $150.20.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. The business had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.90) EPS. As a group, equities analysts expect that Phillips 66 will post 17.39 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Monday, May 18th. Phillips 66’s dividend payout ratio (DPR) is 50.05%.

Institutional Investors Weigh In On Phillips 66

Several institutional investors and hedge funds have recently modified their holdings of PSX. Vanguard Group Inc. lifted its position in shares of Phillips 66 by 11.6% in the 3rd quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company’s stock worth $7,035,574,000 after purchasing an additional 5,356,558 shares during the period. Norges Bank purchased a new position in Phillips 66 during the 4th quarter valued at about $640,206,000. M&T Bank Corp lifted its position in Phillips 66 by 462.9% during the 4th quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock valued at $352,007,000 after acquiring an additional 2,243,268 shares during the period. AQR Capital Management LLC lifted its position in Phillips 66 by 424.7% during the 3rd quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock valued at $257,512,000 after acquiring an additional 1,532,389 shares during the period. Finally, Worldquant Millennium Advisors LLC purchased a new position in Phillips 66 during the 2nd quarter valued at about $107,967,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Barclays raised their price target on shares of Phillips 66 from $158.00 to $177.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 8th. The Goldman Sachs Group raised their price target on shares of Phillips 66 from $186.00 to $192.00 and gave the stock a “neutral” rating in a report on Friday, April 10th. BMO Capital Markets raised their target price on shares of Phillips 66 from $175.00 to $195.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 7th. Wall Street Zen raised shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings cut shares of Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $184.50.

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.