Key Points
- Phillips 66 EVP Don Baldridge sold 7,500 shares on Feb. 17 at an average of $160 for a $1.2M transaction, leaving him with 38,488 shares — a 16.31% decline in his ownership.
- Quarterly results beat on EPS: Phillips 66 reported $2.47 EPS versus a $2.15 consensus while revenue was $32.16B (below the $33.81B estimate); the stock carries a MarketBeat consensus "Hold" rating with a $160.11 target.
- Dividend raised to $1.27 quarterly (annualized $5.08), implying a 3.3% yield; the ex-dividend date is Feb. 23 and the payment date is Mar. 4.
Phillips 66 (NYSE:PSX - Get Free Report) EVP Don Baldridge sold 7,500 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the executive vice president owned 38,488 shares in the company, valued at $6,158,080. This represents a 16.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Phillips 66 Price Performance
Shares of Phillips 66 stock traded up $0.26 during trading on Friday, hitting $155.67. 510,954 shares of the company were exchanged, compared to its average volume of 2,503,685. The firm has a 50 day moving average price of $141.69 and a 200 day moving average price of $135.74. The stock has a market capitalization of $62.72 billion, a price-to-earnings ratio of 14.40, a P/E/G ratio of 0.55 and a beta of 0.90. 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 has a fifty-two week low of $91.01 and a fifty-two week high of $163.79.
Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.32. Phillips 66 had a return on equity of 9.28% and a net margin of 3.22%.The company had revenue of $32.16 billion during the quarter, compared to the consensus estimate of $33.81 billion. During the same quarter last year, the business posted ($0.15) earnings per share. On average, equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.
Phillips 66 Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Monday, February 23rd will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, February 23rd. This is a positive change from Phillips 66's previous quarterly dividend of $1.20. Phillips 66's dividend payout ratio is presently 44.36%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PSX. Clifford Group LLC lifted its stake in shares of Phillips 66 by 2.0% in the 4th quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company's stock valued at $428,000 after purchasing an additional 64 shares in the last quarter. CYBER HORNET ETFs LLC lifted its position in Phillips 66 by 5.7% during the fourth quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company's stock valued at $158,000 after buying an additional 66 shares in the last quarter. GHP Investment Advisors Inc. grew its stake in Phillips 66 by 2.3% during the fourth quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company's stock worth $414,000 after buying an additional 72 shares during the period. Johnson Financial Group Inc. increased its position in shares of Phillips 66 by 11.9% in the fourth quarter. Johnson Financial Group Inc. now owns 679 shares of the oil and gas company's stock worth $88,000 after acquiring an additional 72 shares in the last quarter. Finally, L2 Asset Management LLC increased its position in shares of Phillips 66 by 4.0% in the third quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company's stock worth $257,000 after acquiring an additional 72 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company's stock.
Wall Street Analyst Weigh In
PSX has been the subject of a number of recent research reports. Citigroup lifted their price target on shares of Phillips 66 from $146.00 to $159.00 and gave the stock a "neutral" rating in a report on Monday, February 9th. TD Cowen reaffirmed a "buy" rating on shares of Phillips 66 in a research note on Friday, February 6th. BMO Capital Markets reiterated an "outperform" rating and issued a $170.00 price target on shares of Phillips 66 in a report on Friday, February 6th. Wolfe Research lifted their price objective on Phillips 66 from $159.00 to $164.00 and gave the company an "outperform" rating in a research report on Monday, January 26th. Finally, The Goldman Sachs Group upped their target price on Phillips 66 from $152.00 to $164.00 and gave the company a "neutral" rating in a research note on Thursday, January 22nd. Ten analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $160.11.
Get Our Latest Research Report on Phillips 66
Phillips 66 Company Profile
(
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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.
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