Key Points
- Director Kevin Omar Meyers bought 175 shares on May 6 at an average price of $173.12, a $30,296 purchase that raised his stake to 16,799 shares (a 1.05% increase) valued at about $2.91M.
- Q1 results and dividend: Phillips 66 reported EPS of $0.49 (beating the -$0.54 consensus) while revenue of $32.54B missed estimates, and declared a quarterly dividend of $1.27 ($5.08 annualized, ~3.0% yield) payable June 1.
- Analyst and market context: The stock has a consensus "Moderate Buy" price target of $184.50, a market cap of $67.5B and a 52-week range of $106.34–$190.61.
Phillips 66 (NYSE:PSX - Get Free Report) Director Kevin Omar Meyers bought 175 shares of Phillips 66 stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the purchase, the director owned 16,799 shares of the company's stock, valued at $2,908,242.88. The trade was a 1.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Kevin Omar Meyers also recently made the following trade(s):
- On Tuesday, March 17th, Kevin Omar Meyers bought 175 shares of Phillips 66 stock. The stock was purchased at an average cost of $173.20 per share, for a total transaction of $30,310.00.
Phillips 66 Stock Down 2.0%
PSX opened at $168.35 on Friday. The stock has a market cap of $67.50 billion, a PE ratio of 16.59, a P/E/G ratio of 0.26 and a beta of 0.70. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. Phillips 66 has a 52 week low of $106.34 and a 52 week high of $190.61. The business's fifty day simple moving average is $168.80 and its 200 day simple moving average is $150.20.
Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business had revenue of $32.54 billion for the quarter, compared to analysts' expectations of $35.86 billion. During the same quarter in the prior year, the firm earned ($0.90) earnings per share. The firm's revenue was up 6.9% on a year-over-year basis. As a group, research analysts expect that Phillips 66 will post 17.39 earnings per share for the current fiscal year.
Phillips 66 Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, May 18th. Phillips 66's dividend payout ratio (DPR) is 50.05%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on PSX shares. Tudor Pickering raised Phillips 66 from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. Citigroup raised their price objective on Phillips 66 from $159.00 to $183.00 and gave the company a "neutral" rating in a research note on Thursday, April 9th. Scotiabank raised their price objective on Phillips 66 from $140.00 to $151.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 22nd. TD Cowen raised their price objective on Phillips 66 from $155.00 to $213.00 and gave the company a "buy" rating in a research note on Wednesday, April 1st. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $180.00 price objective on shares of Phillips 66 in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $184.50.
Read Our Latest Analysis on PSX
Institutional Trading of Phillips 66
Several large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Phillips 66 by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company's stock worth $6,701,052,000 after purchasing an additional 205,480 shares during the last quarter. State Street Corp grew its stake in shares of Phillips 66 by 0.8% in the fourth quarter. State Street Corp now owns 23,589,550 shares of the oil and gas company's stock worth $3,043,996,000 after purchasing an additional 175,616 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Phillips 66 by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company's stock worth $1,338,596,000 after purchasing an additional 45,340 shares during the last quarter. Norges Bank bought a new stake in shares of Phillips 66 in the fourth quarter worth about $640,206,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Phillips 66 by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,944,561 shares of the oil and gas company's stock worth $509,006,000 after purchasing an additional 89,621 shares during the last quarter. 76.93% of the stock is owned by institutional investors.
About Phillips 66
(
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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