Kevin Mitchell Sells 11,021 Shares of Phillips 66 (NYSE:PSX) Stock

Phillips 66 (NYSE:PSX) CFO Kevin Mitchell sold 11,021 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $190.03, for a total value of $2,094,320.63. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at $18,504,361.28. The trade was a 10.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Phillips 66 Stock Performance

NYSE:PSX opened at $201.41 on Wednesday. The stock has a market cap of $80.75 billion, a P/E ratio of 19.84, a PEG ratio of 0.27 and a beta of 0.69. The stock has a 50 day simple moving average of $177.18 and a 200 day simple moving average of $164.20. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. Phillips 66 has a 1-year low of $118.07 and a 1-year high of $201.66.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. During the same period in the previous year, the company posted ($0.90) EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Research analysts anticipate that Phillips 66 will post 19.08 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66’s payout ratio is presently 50.05%.

Analyst Ratings Changes

A number of equities analysts recently commented on PSX shares. Piper Sandler raised their price target on shares of Phillips 66 from $168.00 to $177.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 8th. The Goldman Sachs Group increased their target price on shares of Phillips 66 from $192.00 to $207.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 19th. Wolfe Research raised their target price on shares of Phillips 66 from $187.00 to $193.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Mizuho upgraded shares of Phillips 66 from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $170.00 to $212.00 in a research report on Wednesday, May 27th. Finally, Citigroup boosted their price target on Phillips 66 from $183.00 to $204.00 and gave the company a “neutral” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $196.06.

Institutional Investors Weigh In On Phillips 66

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Phillips 66 during the fourth quarter worth about $640,206,000. M&T Bank Corp boosted its stake in shares of Phillips 66 by 462.9% in the 4th quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock valued at $352,007,000 after purchasing an additional 2,243,268 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Phillips 66 by 424.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock valued at $257,512,000 after purchasing an additional 1,532,389 shares in the last quarter. Amundi grew its holdings in shares of Phillips 66 by 62.0% during the 1st quarter. Amundi now owns 3,667,451 shares of the oil and gas company’s stock valued at $668,137,000 after purchasing an additional 1,403,493 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new stake in shares of Phillips 66 during the 2nd quarter valued at approximately $107,967,000. 76.93% of the stock is currently owned by institutional investors.

Trending Headlines about Phillips 66

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Phillips 66’s refining network and access to low-cost crude are being highlighted as key advantages that could support long-term growth and stronger margins if fuel demand stays firm. Here’s Why Phillips 66’s Refining Strength Supports Long-Term Growth
• Positive Sentiment: Renewed Middle East tensions are tightening refined-product markets, which could lift crack spreads and improve profitability for refiners like Phillips 66. Renewed Middle East Tensions Threaten Supply: 3 Energy Stocks to Watch
• Positive Sentiment: Bloomberg reported that the recent surge in U.S. crude exports may last longer than expected, a favorable backdrop for the broader energy logistics and refining sector. Texas Port CEO Sees US Oil Exports Holding Above Prewar Levels
• Neutral Sentiment: Phillips 66 CFO Kevin Mitchell sold 11,021 shares under a pre-arranged Rule 10b5-1 trading plan, but he still retains a sizable personal stake, so the transaction appears more routine than alarming. Phillips 66’s CFO Cashed In Options but Kept an $18.3 Million Stake — Here’s What Investors Should Focus On Instead
• Neutral Sentiment: Analysts currently maintain a “Moderate Buy” consensus on PSX, with price targets that suggest expectations remain constructive but not euphoric. Phillips 66 (NYSE:PSX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Phillips 66 Company Profile

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.