Key Points
- Brian Mandell sold 25,500 shares of Phillips 66 on Dec. 1 at an average price of $140.04 for proceeds of $3.57 million, leaving him with 56,838 shares and a 30.97% reduction in his ownership stake.
- The company paid a $1.20 quarterly dividend on Dec. 1 (annualized $4.80), implying a 3.4% yield while the dividend payout ratio sits at about 131.15%.
- Phillips 66 beat expectations in its latest quarter with EPS of $2.52 and revenue of $33.69 billion, but analysts’ consensus is an average "Hold" rating with a $146.82 price target despite several recent upward target revisions.
Phillips 66 (NYSE:PSX - Get Free Report) EVP Brian Mandell sold 25,500 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $140.04, for a total transaction of $3,571,020.00. Following the completion of the sale, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,959,593.52. The trade was a 30.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Brian Mandell also recently made the following trade(s):
- On Tuesday, November 18th, Brian Mandell sold 26,200 shares of Phillips 66 stock. The stock was sold at an average price of $137.68, for a total transaction of $3,607,216.00.
Phillips 66 Stock Up 2.0%
PSX stock opened at $139.64 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The company's 50 day simple moving average is $134.87 and its 200-day simple moving average is $127.94. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $143.25. The firm has a market capitalization of $56.26 billion, a PE ratio of 38.15, a P/E/G ratio of 1.81 and a beta of 1.08.
Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.38. The firm had revenue of $33.69 billion during the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.During the same period in the previous year, the firm posted $2.04 EPS. Equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.
Phillips 66 Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Monday, November 17th. Phillips 66's dividend payout ratio is currently 131.15%.
Analyst Upgrades and Downgrades
A number of analysts recently commented on PSX shares. TD Cowen lifted their price objective on Phillips 66 from $140.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, October 30th. Wall Street Zen upgraded shares of Phillips 66 from a "hold" rating to a "buy" rating in a report on Saturday, November 1st. Zacks Research lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 31st. Piper Sandler raised their target price on shares of Phillips 66 from $159.00 to $170.00 and gave the stock a "neutral" rating in a research report on Friday, November 14th. Finally, Raymond James Financial lifted their target price on shares of Phillips 66 from $153.00 to $169.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $146.82.
View Our Latest Stock Report on Phillips 66
Hedge Funds Weigh In On Phillips 66
Institutional investors and hedge funds have recently bought and sold shares of the stock. Elliott Investment Management L.P. boosted its position in Phillips 66 by 1,929.0% during the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company's stock worth $1,941,723,000 after purchasing an additional 14,950,000 shares during the period. Chronos Wealth Management LLC acquired a new position in shares of Phillips 66 during the second quarter worth about $281,000. Sustainable Insight Capital Management LLC purchased a new stake in shares of Phillips 66 in the first quarter worth about $1,457,000. Evergreen Wealth Solutions LLC acquired a new stake in shares of Phillips 66 in the first quarter valued at about $292,000. Finally, Vanguard Group Inc. raised its holdings in shares of Phillips 66 by 14.8% during the 2nd quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company's stock valued at $5,531,702,000 after buying an additional 5,978,841 shares during the period. Institutional investors and hedge funds own 76.93% of the company's stock.
About Phillips 66
(
Get Free Report)
Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
