Phillips 66 (NYSE:PSX) EVP Sells $6,202,404.00 in Stock

Phillips 66 (NYSE:PSX) EVP Brian Mandell sold 23,400 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $265.06, for a total value of $6,202,404.00. Following the transaction, the executive vice president owned 61,595 shares of the company’s stock, valued at approximately $16,326,370.70. This represents a 27.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Brian Mandell also recently made the following trade(s):

• On Monday, August 10th, Brian Mandell sold 3,300 shares of Phillips 66 stock. The stock was sold at an average price of $214.02, for a total value of $706,266.00.
• On Tuesday, August 11th, Brian Mandell sold 30,000 shares of Phillips 66 stock. The shares were sold at an average price of $215.00, for a total value of $6,450,000.00.

Phillips 66 Trading Up 3.4%

NYSE PSX traded up $9.03 during trading on Thursday, hitting $273.66. The stock had a trading volume of 3,572,668 shares, compared to its average volume of 2,826,335. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $109.20 billion, a PE ratio of 15.59 and a beta of 0.71. The firm has a 50 day moving average price of $227.71 and a 200 day moving average price of $191.99. Phillips 66 has a twelve month low of $126.74 and a twelve month high of $274.21.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, beating the consensus estimate of $7.50 by $1.91. The business had revenue of $52.04 billion during the quarter, compared to analyst estimates of $43.60 billion. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. During the same quarter last year, the firm posted $2.38 earnings per share. As a group, equities research analysts forecast that Phillips 66 will post 26.95 earnings per share for the current year.

Phillips 66 declared that its board has approved a stock buyback program on Friday, July 31st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the oil and gas company to repurchase up to 11.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were paid a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Tuesday, August 18th. Phillips 66’s dividend payout ratio (DPR) is presently 28.95%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PSX. TD Cowen boosted their price objective on Phillips 66 from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of Phillips 66 from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. Raymond James Financial raised their price objective on shares of Phillips 66 from $240.00 to $300.00 and gave the company an “outperform” rating in a report on Monday. Mizuho raised Phillips 66 from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $170.00 to $212.00 in a report on Wednesday, May 27th. Finally, UBS Group increased their price objective on Phillips 66 from $235.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.35.

Institutional Investors Weigh In On Phillips 66

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Phillips 66 during the 2nd quarter worth $5,766,779,000. Bank of New York Mellon Corp purchased a new position in shares of Phillips 66 during the 2nd quarter worth approximately $1,093,206,000. Norges Bank acquired a new stake in Phillips 66 in the fourth quarter valued at $640,206,000. Bank of America Corp DE purchased a new stake in shares of Phillips 66 during the 2nd quarter worth $469,970,000. Finally, Legal & General Group Plc acquired a new position in shares of Phillips 66 during the 2nd quarter worth $303,648,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

About Phillips 66

Phillips 66 (NYSE: PSX) is an energy company that operates across the midstream, chemicals, refining and marketing sectors. Headquartered in Houston, Texas, the company was established in 2012 when ConocoPhillips separated its downstream businesses into an independent company.

The company’s midstream operations include transportation, processing, storage and other infrastructure for crude oil, natural gas and natural gas liquids. Phillips 66 also owns and operates refineries that process crude oil into transportation fuels, lubricants, specialty products and other refined petroleum products.

Phillips 66 markets gasoline, diesel and other fuels under the Phillips 66, Conoco and 76 brands, primarily in the United States.