Insider Buying: Phillips 66 (NYSE:PSX) Director Buys 8,350 Shares of Stock

Key Points

• Phillips 66 Director Gregory Hayes purchased 8,350 shares at $119.90 each, totaling over $1 million, which increased his ownership stake by 39.62%.
• The company declared a quarterly dividend of $1.20 per share, translating to an annual yield of 3.9%, with a dividend payout ratio of 115.38%.
• Phillips 66's recent earnings report showed a profit of $2.38 EPS, exceeding estimates, and the firm expects to achieve 6.8 EPS for the fiscal year.

Phillips 66 (NYSE:PSX - Get Free Report) Director Gregory Hayes bought 8,350 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was bought at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the transaction, the director directly owned 29,423 shares of the company's stock, valued at $3,527,817.70. The trade was a 39.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Phillips 66 Trading Up 0.2%

Shares of NYSE PSX traded up $0.21 during mid-day trading on Thursday, hitting $122.79. 2,094,813 shares of the company traded hands, compared to its average volume of 3,380,116. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $140.85. The stock has a market capitalization of $49.62 billion, a price-to-earnings ratio of 29.52, a PEG ratio of 1.65 and a beta of 1.09. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The business has a 50 day moving average of $123.45 and a two-hundred day moving average of $118.89.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%. The firm had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. During the same period in the prior year, the business earned $2.31 EPS. On average, sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.9%. Phillips 66's dividend payout ratio is currently 115.38%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Wolff Wiese Magana LLC grew its holdings in shares of Phillips 66 by 62.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company's stock worth $26,000 after purchasing an additional 82 shares in the last quarter. Pacific Center for Financial Services acquired a new stake in shares of Phillips 66 during the 4th quarter worth approximately $27,000. von Borstel & Associates Inc. acquired a new stake in shares of Phillips 66 during the 1st quarter worth approximately $27,000. Olde Wealth Management LLC acquired a new stake in shares of Phillips 66 during the 1st quarter worth approximately $28,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in shares of Phillips 66 during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Analyst Ratings Changes

PSX has been the topic of several research reports. JPMorgan Chase & Co. set a $115.00 price target on shares of Phillips 66 in a research report on Wednesday, June 18th. UBS Group raised their target price on shares of Phillips 66 from $141.00 to $143.00 and gave the company a "buy" rating in a report on Monday, July 28th. Argus upgraded shares of Phillips 66 to a "strong-buy" rating in a research note on Thursday, July 31st. Tudor Pickering lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Evercore ISI began coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They set an "outperform" rating and a $130.00 target price on the stock. Ten investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $136.20.

Phillips 66 Company Profile

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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