Phillips 66 (NYSE:PSX) EVP Sells $4,853,104.00 in Stock

Posted by on Jun 1st, 2022

Phillips 66 (NYSE:PSX – Get Rating) EVP Robert A. Herman sold 47,200 shares of the business’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $102.82, for a total value of $4,853,104.00. Following the completion of the transaction, the executive vice president now directly owns 64,106 shares of the company’s stock, valued at approximately $6,591,378.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Shares of PSX stock traded up $2.37 during trading hours on Wednesday, reaching $103.18. The company had a trading volume of 4,059,481 shares, compared to its average volume of 4,375,750. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.87 and a current ratio of 1.13. The stock has a fifty day moving average of $89.22 and a 200-day moving average of $82.98. The company has a market capitalization of $49.64 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 0.97 and a beta of 1.40. Phillips 66 has a 12-month low of $63.19 and a 12-month high of $104.01.

Phillips 66 (NYSE:PSX – Get Rating) last posted its quarterly earnings results on Friday, April 29th. The oil and gas company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.18. The business had revenue of $36.72 billion during the quarter, compared to analyst estimates of $34.86 billion. Phillips 66 had a return on equity of 17.07% and a net margin of 1.97%. During the same period in the prior year, the business earned ($1.16) earnings per share. On average, analysts forecast that Phillips 66 will post 9.44 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Monday, May 23rd will be given a $0.97 dividend. The ex-dividend date is Friday, May 20th. This is a positive change from Phillips 66’s previous quarterly dividend of $0.92. This represents a $3.88 dividend on an annualized basis and a dividend yield of 3.76%. Phillips 66’s dividend payout ratio is 67.60%.

Several brokerages have recently issued reports on PSX. TheStreet raised Phillips 66 from a “c+” rating to a “b” rating in a report on Wednesday, February 23rd. StockNews.com raised Phillips 66 from a “hold” rating to a “buy” rating in a report on Thursday, May 5th. Citigroup initiated coverage on Phillips 66 in a report on Tuesday, April 26th. They issued a “neutral” rating and a $89.00 price target for the company. JPMorgan Chase & Co. upped their price target on Phillips 66 from $102.00 to $112.00 in a report on Tuesday, May 17th. Finally, Wells Fargo & Company upped their price target on Phillips 66 from $103.00 to $114.00 in a report on Monday, May 2nd. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $98.29.

Hedge funds have recently bought and sold shares of the company. Kestra Private Wealth Services LLC grew its position in Phillips 66 by 42.5% in the first quarter. Kestra Private Wealth Services LLC now owns 23,963 shares of the oil and gas company’s stock worth $2,070,000 after acquiring an additional 7,143 shares during the period. Gradient Investments LLC grew its position in Phillips 66 by 20.4% in the first quarter. Gradient Investments LLC now owns 2,385 shares of the oil and gas company’s stock worth $206,000 after acquiring an additional 404 shares during the period. Ninety One UK Ltd grew its position in Phillips 66 by 24.6% in the first quarter. Ninety One UK Ltd now owns 108,989 shares of the oil and gas company’s stock worth $9,416,000 after acquiring an additional 21,511 shares during the period. EverSource Wealth Advisors LLC grew its position in Phillips 66 by 24.3% in the first quarter. EverSource Wealth Advisors LLC now owns 3,771 shares of the oil and gas company’s stock worth $326,000 after acquiring an additional 738 shares during the period. Finally, M Holdings Securities Inc. purchased a new position in Phillips 66 in the first quarter worth approximately $213,000. Institutional investors and hedge funds own 64.28% of the company’s stock.

About Phillips 66 (Get Rating)

Phillips 66 operates as an energy manufacturing and logistics company. 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.

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