Insider Buying: William R. Loomis, Jr. Acquires 3,485 Shares of Phillips 66 Stock (PSX)
Phillips 66 (NYSE:PSX) Director William R. Loomis, Jr. acquired 3,485 shares of Phillips 66 stock on the open market in a transaction dated Friday, June 20th. The shares were purchased at an average price of $86.04 per share, with a total value of $299,849.40. Following the transaction, the director now directly owns 10,137 shares of the company’s stock, valued at approximately $872,187. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.
Phillips 66 (NYSE:PSX) traded up 0.39% on Tuesday, hitting $86.67. The stock had a trading volume of 839,178 shares. Phillips 66 has a 1-year low of $54.80 and a 1-year high of $86.82. The stock has a 50-day moving average of $83.56 and a 200-day moving average of $78.44. The company has a market cap of $49.042 billion and a price-to-earnings ratio of 13.50. Phillips 66 also was the recipient of a significant increase in short interest during the month of May. As of May 30th, there was short interest totalling 11,263,776 shares, an increase of 39.9% from the May 15th total of 8,049,425 shares. Approximately 2.0% of the shares of the company are sold short. Based on an average trading volume of 3,192,195 shares, the short-interest ratio is presently 3.5 days.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $1.47 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.34 by $0.13. During the same quarter in the prior year, the company posted $2.19 earnings per share. On average, analysts predict that Phillips 66 will post $7.32 earnings per share for the current fiscal year.
A number of research firms have recently commented on PSX. Analysts at Zacks reiterated a “neutral” rating on shares of Phillips 66 in a research note on Friday. They now have a $90.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Phillips 66 in a research note on Wednesday, June 4th. They now have a $68.00 price target on the stock, up previously from $52.00. Finally, analysts at Citigroup Inc. reiterated a “hold” rating on shares of Phillips 66 in a research note on Thursday, May 1st. They now have a $84.00 price target on the stock. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Phillips 66 has an average rating of “Buy” and an average target price of $82.00.
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses.
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