Key Points
- Phillips 66 CFO Kevin Mitchell sold 11,021 shares on July 9 at an average price of $190.03, totaling about $2.09 million. After the sale, he still held 97,376 shares, and the transaction was made under a pre-arranged Rule 10b5-1 plan.
- Phillips 66 recently beat earnings expectations, reporting $0.49 EPS versus an expected loss of $0.54, though revenue came in below estimates at $32.54 billion. The company also posted year-over-year revenue growth of 6.9% for the quarter.
- The company announced a quarterly dividend of $1.27 per share, payable September 1 to shareholders of record on August 18. That works out to an annualized dividend of $5.08 and a yield of 2.6%.
Phillips 66 (NYSE:PSX - Get Free Report) CFO Kevin Mitchell sold 11,021 shares of the firm's stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $190.03, for a total value of $2,094,320.63. Following the sale, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $18,504,361.28. This trade represents a 10.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Phillips 66 Price Performance
Shares of PSX opened at $198.00 on Tuesday. Phillips 66 has a 12-month low of $118.07 and a 12-month high of $198.58. The business has a 50-day simple moving average of $176.76 and a two-hundred day simple moving average of $163.69. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The stock has a market cap of $79.38 billion, a PE ratio of 19.51, a PEG ratio of 0.25 and a beta of 0.69.
Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating the consensus estimate of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. During the same period last year, the company earned ($0.90) earnings per share. The business's quarterly revenue was up 6.9% on a year-over-year basis. Analysts anticipate that Phillips 66 will post 19.3 earnings per share for the current fiscal year.
Phillips 66 Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Tuesday, August 18th. Phillips 66's dividend payout ratio (DPR) is 50.05%.
Institutional Trading of Phillips 66
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PSX. Family Wealth Partners LLC raised its holdings in Phillips 66 by 16.7% during the 2nd quarter. Family Wealth Partners LLC now owns 1,284 shares of the oil and gas company's stock worth $217,000 after purchasing an additional 184 shares during the last quarter. Tema ETFs LLC boosted its stake in shares of Phillips 66 by 10.5% in the 2nd quarter. Tema ETFs LLC now owns 7,651 shares of the oil and gas company's stock valued at $1,293,000 after purchasing an additional 725 shares during the last quarter. City Holding Co. increased its position in shares of Phillips 66 by 2.8% during the second quarter. City Holding Co. now owns 19,351 shares of the oil and gas company's stock worth $3,271,000 after buying an additional 518 shares during the period. Charles Schwab Trust Co increased its position in shares of Phillips 66 by 14.8% during the second quarter. Charles Schwab Trust Co now owns 1,354 shares of the oil and gas company's stock worth $229,000 after buying an additional 175 shares during the period. Finally, Spinnaker Investment Group LLC bought a new position in Phillips 66 during the second quarter worth $344,000. Institutional investors and hedge funds own 76.93% of the company's stock.
Analysts Set New Price Targets
PSX has been the topic of a number of research reports. Zacks Research lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. The Goldman Sachs Group raised their price target on shares of Phillips 66 from $192.00 to $207.00 and gave the company a "neutral" rating in a research note on Tuesday, May 19th. Barclays lifted their price target on shares of Phillips 66 from $177.00 to $183.00 and gave the stock an "equal weight" rating in a report on Thursday, July 9th. Tudor Pickering upgraded Phillips 66 from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. Finally, Weiss Ratings lowered Phillips 66 from a "buy (b-)" rating to a "hold (c)" rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $194.89.
Read Our Latest Report on Phillips 66
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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