Don Baldridge Sells 7,500 Shares of Phillips 66 (NYSE:PSX) Stock

Phillips 66 (NYSE:PSX) EVP Don Baldridge sold 7,500 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the executive vice president directly owned 38,488 shares of the company’s stock, valued at approximately $6,158,080. This trade represents a 16.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Phillips 66 Price Performance

Shares of PSX traded down $1.87 during trading hours on Thursday, reaching $155.53. 2,300,623 shares of the company traded hands, compared to its average volume of 2,566,743. The stock has a market capitalization of $62.67 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 0.55 and a beta of 0.90. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $163.79. The company has a quick ratio of 0.87, a current ratio of 1.23 and a debt-to-equity ratio of 0.68. The stock has a fifty day simple moving average of $141.45 and a 200 day simple moving average of $135.60.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.32. Phillips 66 had a net margin of 3.22% and a return on equity of 9.28%. The company had revenue of $32.16 billion for the quarter, compared to analyst estimates of $33.81 billion. During the same quarter last year, the business earned ($0.15) EPS. As a group, research analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Monday, February 23rd will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 3.3%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.20. The ex-dividend date is Monday, February 23rd. Phillips 66’s payout ratio is 46.95%.

Analysts Set New Price Targets

PSX has been the subject of several analyst reports. Barclays boosted their price objective on Phillips 66 from $141.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Monday, January 12th. Wolfe Research lifted their price target on shares of Phillips 66 from $159.00 to $164.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Wells Fargo & Company upped their price objective on shares of Phillips 66 from $162.00 to $163.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. UBS Group reaffirmed a “buy” rating and issued a $172.00 target price on shares of Phillips 66 in a research report on Friday, February 6th. Finally, Scotiabank reiterated a “sector perform” rating and issued a $140.00 target price on shares of Phillips 66 in a research report on Friday, January 16th. Ten investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $158.72.

Institutional Investors Weigh In On Phillips 66

Several hedge funds have recently made changes to their positions in the stock. Clifford Group LLC raised its stake in shares of Phillips 66 by 2.0% in the 4th quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock valued at $428,000 after buying an additional 64 shares in the last quarter. CYBER HORNET ETFs LLC boosted its position in shares of Phillips 66 by 5.7% during the 4th quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company’s stock valued at $158,000 after acquiring an additional 66 shares in the last quarter. GHP Investment Advisors Inc. increased its stake in Phillips 66 by 2.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock valued at $414,000 after acquiring an additional 72 shares during the period. Johnson Financial Group Inc. raised its position in Phillips 66 by 11.9% in the fourth quarter. Johnson Financial Group Inc. now owns 679 shares of the oil and gas company’s stock worth $88,000 after purchasing an additional 72 shares in the last quarter. Finally, L2 Asset Management LLC raised its position in Phillips 66 by 4.0% in the third quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock worth $257,000 after purchasing an additional 72 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

About Phillips 66

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.