Key Points
- Director Kevin Omar Meyers purchased 175 shares on March 17 at an average price of $173.20 (~$30,310), boosting his stake to 16,624 shares (a 1.06% increase) as disclosed in an SEC filing.
- Dividend increased: Phillips 66 raised its quarterly dividend to $1.27 (paid Mar 4), equal to a $5.08 annualized payout and a ~2.9% yield with a payout ratio of about 46.95%.
- The company reported $2.47 EPS for the quarter (beat by $0.32) but missed revenue expectations, and investor sentiment is mixed given analyst rating changes and sizable insider sales (EVP Brian Mandell sold 42,800 shares, ~ $7.26M).
Phillips 66 (NYSE:PSX - Get Free Report) Director Kevin Omar Meyers purchased 175 shares of the stock in a transaction on Tuesday, March 17th. The shares were purchased at an average cost of $173.20 per share, with a total value of $30,310.00. Following the transaction, the director owned 16,624 shares in the company, valued at $2,879,276.80. This trade represents a 1.06% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Phillips 66 Stock Down 0.4%
Shares of PSX stock opened at $172.83 on Wednesday. The stock's 50-day simple moving average is $152.83 and its 200-day simple moving average is $140.74. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.91 and a current ratio of 1.30. The firm has a market capitalization of $69.26 billion, a PE ratio of 15.97, a P/E/G ratio of 0.60 and a beta of 0.86. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $178.38.
Phillips 66 (NYSE:PSX - Get Free Report) 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. The firm had revenue of $32.16 billion during the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.During the same quarter in the previous year, the company posted ($0.15) earnings per share. Equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.
Phillips 66 Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 2.9%. The ex-dividend date was Monday, February 23rd. This is a positive change from Phillips 66's previous quarterly dividend of $1.20. Phillips 66's dividend payout ratio (DPR) is presently 46.95%.
Key Headlines Impacting Phillips 66
Here are the key news stories impacting Phillips 66 this week:
- Positive Sentiment: Jefferies upgraded PSX from "hold" to "strong‑buy", which can attract buyer interest and support the stock. Jefferies Upgrade
- Positive Sentiment: Board/executive-friendly cash return: Phillips 66 recently raised its quarterly dividend to $1.27 (paid Mar 4), boosting yield and income appeal for yield‑seeking investors. Dividend Notice
- Positive Sentiment: Director Kevin Omar Meyers bought 175 shares (~$30.3k), a small but supportive insider purchase disclosed to the SEC. Kevin Meyers SEC Filing
- Neutral Sentiment: Piper Sandler presentation transcript was released (investor / management commentary available), which may provide operational color but no headline surprises reported so far. Conference Transcript
- Neutral Sentiment: Mizuho raised its price target to $170 but kept a "neutral" rating — the PT is near current levels, so it’s not a clear catalyst. Mizuho Note
- Neutral Sentiment: Analyst/ownership backdrop: mixed analyst ratings (buy/hold split) and steady institutional ownership; recent quarterly EPS beat (Feb 4) but revenue missed consensus — a mixed fundamentals picture that tempers large moves. Analyst & Earnings Summary
- Negative Sentiment: Large insider sales: EVP Brian Mandell sold 42,800 shares (~$7.26M), a significant reduction in insider holdings that can pressure sentiment. Mandell SEC Filing
- Negative Sentiment: Director Lisa Ann Davis sold 3,800 shares (~$662.6k), trimming her stake by ~30%, another sign of insider selling pressure. Davis Sale
Analyst Ratings Changes
Several brokerages have recently issued reports on PSX. Wells Fargo & Company boosted their price objective on Phillips 66 from $162.00 to $163.00 and gave the company an "overweight" rating in a report on Thursday, February 5th. Citigroup lifted their price target on Phillips 66 from $146.00 to $159.00 and gave the company a "neutral" rating in a research report on Monday, February 9th. Wall Street Zen raised Phillips 66 from a "buy" rating to a "strong-buy" rating in a report on Saturday. Zacks Research cut shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 16th. Finally, The Goldman Sachs Group lifted their target price on shares of Phillips 66 from $168.00 to $186.00 and gave the company a "neutral" rating in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $162.33.
Check Out Our Latest Stock Analysis on Phillips 66
Institutional Trading of Phillips 66
Several institutional investors have recently bought and sold shares of PSX. Evolution Wealth Management Inc. acquired a new position in shares of Phillips 66 during the 2nd quarter worth approximately $25,000. Board of the Pension Protection Fund acquired a new stake in Phillips 66 in the 4th quarter valued at $26,000. Accordant Advisory Group Inc increased its holdings in Phillips 66 by 900.0% in the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company's stock worth $26,000 after acquiring an additional 180 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in Phillips 66 in the 4th quarter worth $27,000. Finally, SWAN Capital LLC raised its position in Phillips 66 by 1,055.6% during the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company's stock worth $27,000 after acquiring an additional 190 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.
Phillips 66 Company Profile
(
Get Free Report)
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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