Phillips 66 (PSX) VP Sells $102,531.08 in Stock
Phillips 66 (NYSE:PSX) VP Chukwuemeka A. Oyolu sold 1,151 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $89.08, for a total value of $102,531.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Phillips 66 (PSX) traded up 0.24% during trading on Wednesday, hitting $89.30. The stock had a trading volume of 690,500 shares. The company has a market capitalization of $45.68 billion, a P/E ratio of 26.72 and a beta of 1.20. Phillips 66 has a 1-year low of $75.14 and a 1-year high of $89.51. The stock’s 50-day moving average price is $84.43 and its 200-day moving average price is $80.63.
Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.07. Phillips 66 had a net margin of 1.87% and a return on equity of 6.29%. The firm had revenue of $24.58 billion during the quarter, compared to analyst estimates of $25.14 billion. During the same period last year, the business earned $0.94 earnings per share. Analysts expect that Phillips 66 will post $4.20 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were issued a dividend of $0.70 per share. The ex-dividend date was Wednesday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 3.14%. Phillips 66’s payout ratio is 83.58%.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Phillips 66 by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 31,826,155 shares of the oil and gas company’s stock worth $2,631,704,000 after acquiring an additional 130,653 shares during the last quarter. BlackRock Inc. raised its holdings in Phillips 66 by 0.7% in the 2nd quarter. BlackRock Inc. now owns 28,025,035 shares of the oil and gas company’s stock worth $2,317,389,000 after acquiring an additional 203,138 shares during the last quarter. State Street Corp raised its holdings in Phillips 66 by 4.0% in the 1st quarter. State Street Corp now owns 24,085,903 shares of the oil and gas company’s stock worth $1,908,079,000 after acquiring an additional 921,895 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Phillips 66 by 4.3% in the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,349,815 shares of the oil and gas company’s stock worth $1,136,792,000 after acquiring an additional 585,176 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Phillips 66 by 0.9% in the 2nd quarter. Wells Fargo & Company MN now owns 8,422,039 shares of the oil and gas company’s stock worth $696,418,000 after acquiring an additional 71,098 shares during the last quarter. Institutional investors own 69.53% of the company’s stock.
A number of research analysts recently weighed in on PSX shares. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $88.00 price target on shares of Phillips 66 in a research note on Thursday, May 25th. Zacks Investment Research downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. TheStreet raised Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, June 30th. Scotiabank set a $86.00 price objective on Phillips 66 and gave the stock a “hold” rating in a report on Tuesday, August 1st. Finally, BidaskClub lowered Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $83.93.
About Phillips 66
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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