Don Baldridge Sells 7,500 Shares of Phillips 66 (NYSE:PSX) Stock

Phillips 66 (NYSE:PSX) EVP Don Baldridge sold 7,500 shares of the business’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 value of $1,200,000.00. Following the completion of the sale, the executive vice president directly owned 38,488 shares in the company, valued at approximately $6,158,080. This represents a 16.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Phillips 66 Stock Up 0.2%

PSX stock opened at $155.72 on Friday. The business has a 50 day moving average of $141.98 and a 200 day moving average of $135.98. The firm has a market cap of $62.74 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 0.54 and a beta of 0.90. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $163.79. The company has a quick ratio of 0.87, a current ratio of 1.23 and a debt-to-equity ratio of 0.68.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.32. Phillips 66 had a return on equity of 9.28% and a net margin of 3.22%.The firm had revenue of $32.16 billion for the quarter, compared to analysts’ expectations of $33.81 billion. During the same period in the prior year, the firm posted ($0.15) earnings per share. On average, research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Monday, February 23rd will be given a dividend of $1.27 per share. This is a positive change from Phillips 66’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $5.08 annualized dividend and a yield of 3.3%. Phillips 66’s payout ratio is currently 44.36%.

Institutional Investors Weigh In On Phillips 66

Hedge funds and other institutional investors have recently made changes to their positions in the business. Evolution Wealth Management Inc. bought a new stake in Phillips 66 during the second quarter valued at approximately $25,000. Board of the Pension Protection Fund purchased a new position in shares of Phillips 66 during the 4th quarter worth $26,000. Accordant Advisory Group Inc grew its position in shares of Phillips 66 by 900.0% during the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 180 shares during the period. Eagle Bay Advisors LLC purchased a new stake in shares of Phillips 66 in the 4th quarter worth $27,000. Finally, SWAN Capital LLC raised its holdings in Phillips 66 by 1,055.6% in the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 190 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PSX. UBS Group reiterated a “buy” rating and set a $172.00 price target on shares of Phillips 66 in a report on Friday, February 6th. Zacks Research downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. BMO Capital Markets reissued an “outperform” rating and issued a $170.00 target price on shares of Phillips 66 in a research report on Friday, February 6th. Raymond James Financial upped their target price on shares of Phillips 66 from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Finally, Barclays set a $158.00 price target on shares of Phillips 66 in a research note on Friday. Ten equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $160.11.

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.