Brian Mandell Sells 30,000 Shares of Phillips 66 (NYSE:PSX) Stock

Phillips 66 (NYSE:PSX) EVP Brian Mandell sold 30,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $215.00, for a total value of $6,450,000.00. Following the transaction, the executive vice president directly owned 61,595 shares in the company, valued at approximately $13,242,925. This represents a 32.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Monday, August 10th, Brian Mandell sold 3,300 shares of Phillips 66 stock. The shares were sold at an average price of $214.02, for a total value of $706,266.00.

Phillips 66 Trading Up 0.8%

Shares of PSX stock traded up $1.73 on Wednesday, reaching $226.09. 2,575,402 shares of the stock were exchanged, compared to its average volume of 2,831,277. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.32 and a quick ratio of 1.00. Phillips 66 has a one year low of $119.54 and a one year high of $226.60. The stock has a market cap of $90.21 billion, a PE ratio of 12.88, a P/E/G ratio of 0.16 and a beta of 0.68. The stock has a 50 day moving average price of $189.93 and a 200 day moving average price of $174.32.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.50 by $1.91. The business had revenue of $52.04 billion for the quarter, compared to analysts’ expectations of $43.60 billion. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.During the same quarter last year, the business earned $2.38 earnings per share. Equities research analysts forecast that Phillips 66 will post 23.99 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66’s payout ratio is currently 28.95%.

Phillips 66 announced that its Board of Directors has approved a share repurchase 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 usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of recent analyst reports. BMO Capital Markets upped their price objective on shares of Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Citigroup reissued a “neutral” rating on shares of Phillips 66 in a research note on Thursday, August 6th. Mizuho upgraded Phillips 66 from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $170.00 to $212.00 in a report on Wednesday, May 27th. Raymond James Financial raised their price objective on shares of Phillips 66 from $218.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Finally, Barclays boosted their price objective on shares of Phillips 66 from $183.00 to $216.00 and gave the company an “equal weight” rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $206.56.

Institutional Investors Weigh In On Phillips 66

Large investors have recently made changes to their positions in the stock. MUFG Securities EMEA plc boosted its holdings in shares of Phillips 66 by 113.5% in the 4th quarter. MUFG Securities EMEA plc now owns 16,518 shares of the oil and gas company’s stock worth $2,131,000 after purchasing an additional 8,783 shares in the last quarter. Horizon Investments LLC grew its holdings in shares of Phillips 66 by 478.4% during the 4th quarter. Horizon Investments LLC now owns 63,290 shares of the oil and gas company’s stock valued at $8,167,000 after purchasing an additional 52,348 shares during the last quarter. LBP AM SA raised its position in Phillips 66 by 237.8% in the 4th quarter. LBP AM SA now owns 56,380 shares of the oil and gas company’s stock worth $7,275,000 after purchasing an additional 39,690 shares during the period. Truist Financial Corp boosted its position in Phillips 66 by 1.6% during the fourth quarter. Truist Financial Corp now owns 675,084 shares of the oil and gas company’s stock valued at $87,113,000 after buying an additional 10,585 shares during the period. Finally, Fifth Third Bancorp grew its stake in shares of Phillips 66 by 543.7% during the first quarter. Fifth Third Bancorp now owns 128,156 shares of the oil and gas company’s stock valued at $23,348,000 after buying an additional 108,248 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

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.