Phillips 66 (NYSE:PSX) EVP Sells $3,208,286.18 in Stock

Phillips 66 (NYSE:PSXGet Free Report) EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Phillips 66 Stock Performance

NYSE PSX traded down $1.21 during trading hours on Monday, hitting $144.45. The company had a trading volume of 3,742,962 shares, compared to its average volume of 3,301,020. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.96 and a current ratio of 1.29. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $149.52. The company has a market cap of $63.55 billion, a PE ratio of 9.34, a price-to-earnings-growth ratio of 1.90 and a beta of 1.38. The business has a 50 day moving average of $134.19 and a 200-day moving average of $122.13.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Tuesday, February 20th will be paid a $1.05 dividend. The ex-dividend date is Friday, February 16th. This represents a $4.20 annualized dividend and a yield of 2.91%. Phillips 66’s dividend payout ratio is presently 27.15%.

Hedge Funds Weigh In On Phillips 66

Large investors have recently bought and sold shares of the stock. Bornite Capital Management LP purchased a new position in Phillips 66 in the first quarter valued at about $8,639,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Phillips 66 by 316.2% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,597 shares of the oil and gas company’s stock valued at $570,000 after buying an additional 5,012 shares in the last quarter. Synovus Financial Corp increased its holdings in Phillips 66 by 5.1% in the first quarter. Synovus Financial Corp now owns 16,257 shares of the oil and gas company’s stock valued at $1,405,000 after buying an additional 788 shares in the last quarter. Cibc World Market Inc. increased its holdings in Phillips 66 by 61.9% in the first quarter. Cibc World Market Inc. now owns 7,236 shares of the oil and gas company’s stock valued at $625,000 after buying an additional 2,766 shares in the last quarter. Finally, Blair William & Co. IL increased its holdings in Phillips 66 by 103.8% in the first quarter. Blair William & Co. IL now owns 53,538 shares of the oil and gas company’s stock valued at $4,625,000 after buying an additional 27,267 shares in the last quarter. Institutional investors and hedge funds own 71.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PSX. Raymond James upped their price objective on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. TD Cowen upped their price objective on Phillips 66 from $134.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, December 4th. Wells Fargo & Company upped their price objective on Phillips 66 from $151.00 to $163.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $146.00 price objective on the stock in a research report on Tuesday, October 31st. Finally, Barclays increased their target price on Phillips 66 from $132.00 to $139.00 and gave the company an “equal weight” rating in a report on Monday, February 5th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $138.21.

Check Out Our Latest Analysis on Phillips 66

About Phillips 66

(Get Free Report)

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

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