Insider Selling: Phillips 66 (NYSE:PSX) EVP Sells $1,200,000.00 in Stock

Phillips 66 (NYSE:PSX) EVP Don Baldridge sold 7,500 shares of the company’s 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 owned 38,488 shares in the company, valued at approximately $6,158,080. This trade represents a 16.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $155.72 on Friday. The company has a 50-day simple moving average of $141.98 and a 200-day simple moving average of $136.08. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.23 and a quick ratio of 0.87. The company has a market cap of $62.74 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 0.55 and a beta of 0.90. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $163.79.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.32. The business had revenue of $32.16 billion for the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.28%. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. On average, equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd will be issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend 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 44.36%.

Institutional Trading of Phillips 66

A number of institutional investors have recently added to or reduced their stakes in the business. Clifford Group LLC lifted its stake in shares of Phillips 66 by 2.0% during the fourth quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock worth $428,000 after purchasing an additional 64 shares in the last quarter. CYBER HORNET ETFs LLC raised its holdings 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 buying an additional 66 shares during the period. GHP Investment Advisors Inc. raised its holdings in shares of Phillips 66 by 2.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock valued at $414,000 after buying an additional 72 shares during the period. Johnson Financial Group Inc. lifted its position in Phillips 66 by 11.9% during the 4th quarter. Johnson Financial Group Inc. now owns 679 shares of the oil and gas company’s stock worth $88,000 after acquiring an additional 72 shares in the last quarter. Finally, L2 Asset Management LLC boosted its holdings in Phillips 66 by 4.0% in the 3rd quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock worth $257,000 after acquiring an additional 72 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PSX has been the topic of several recent analyst reports. Piper Sandler increased their price objective on shares of Phillips 66 from $153.00 to $156.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Raymond James Financial increased their price target on shares of Phillips 66 from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. BMO Capital Markets reiterated an “outperform” rating and issued a $170.00 price target on shares of Phillips 66 in a report on Friday, February 6th. Wolfe Research upped their price objective on Phillips 66 from $159.00 to $164.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Phillips 66 in a research report on Friday, February 6th. Ten investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $160.11.

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.