Phillips 66 VP Lawrence Michael Ziemba Sells 27,478 Shares (PSX)
Phillips 66 (NYSE:PSX) VP Lawrence Michael Ziemba unloaded 27,478 shares of the stock on the open market in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $77.40, for a total value of $2,126,797.20. Following the sale, the vice president now directly owns 8,209 shares in the company, valued at approximately $635,377. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Phillips 66 (NYSE:PSX) traded down 0.99% on Wednesday, hitting $76.76. 3,389,079 shares of the company’s stock traded hands. Phillips 66 has a 52 week low of $54.80 and a 52 week high of $79.00. The stock has a 50-day moving average of $75.05 and a 200-day moving average of $66.6. The company has a market cap of $45.288 billion and a P/E ratio of 12.88.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.30. During the same quarter in the previous year, the company posted $2.06 earnings per share. Analysts expect that Phillips 66 will post $7.29 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Thursday, February 13th.
A number of analysts have recently weighed in on PSX shares. Analysts at Deutsche Bank raised their price target on shares of Phillips 66 from $41.00 to $45.00 in a research note on Tuesday, February 18th. Separately, analysts at Argus upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. They now have a $90.00 price target on the stock. Finally, analysts at Barclays raised their price target on shares of Phillips 66 from $85.00 to $90.00 in a research note on Monday, February 3rd. They now have an “overweight” rating on the stock. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $79.11.
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses.
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