Phillips 66 (NYSE:PSX) Director Acquires $30,296.00 in Stock

Key Points

• Director Kevin Omar Meyers bought 175 shares on May 6 at an average price of $173.12 for $30,296, raising his stake to 16,799 shares (worth about $2.908M) — a 1.05% increase, per an SEC filing.
• Phillips 66 announced a quarterly dividend of $1.27 per share (annualized $5.08) with a yield of 3.0%; shareholders of record on May 18 will be paid on June 1 (ex-dividend date May 18).
• The company reported $0.49 EPS, beating the consensus of -$0.54, while revenue came in at $32.54B versus expectations of $35.86B; analysts hold a consensus "Moderate Buy" rating with an average price target of $184.50.

Phillips 66 (NYSE:PSX - Get Free Report) Director Kevin Omar Meyers purchased 175 shares of the firm's stock in a transaction on Wednesday, May 6th. The stock was acquired at an average cost of $173.12 per share, with a total value of $30,296.00. Following the transaction, the director directly owned 16,799 shares in the company, valued at $2,908,242.88. This trade represents a 1.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Kevin Omar Meyers also recently made the following trade(s):

• On Tuesday, March 17th, Kevin Omar Meyers purchased 175 shares of Phillips 66 stock. The stock was acquired at an average cost of $173.20 per share, with a total value of $30,310.00.

Phillips 66 Stock Down 2.0%

PSX stock traded down $3.37 during midday trading on Thursday, hitting $168.35. The company's stock had a trading volume of 2,476,464 shares, compared to its average volume of 2,996,902. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. Phillips 66 has a 52-week low of $106.34 and a 52-week high of $190.61. The firm has a market capitalization of $67.50 billion, a P/E ratio of 16.59, a PEG ratio of 0.28 and a beta of 0.70. The firm has a 50-day simple moving average of $168.52 and a 200-day simple moving average of $149.92.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating the consensus estimate of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The company had revenue of $32.54 billion during the quarter, compared to analysts' expectations of $35.86 billion. During the same quarter last year, the company posted ($0.90) EPS. The firm's revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts forecast that Phillips 66 will post 16.85 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be given a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Monday, May 18th. Phillips 66's dividend payout ratio (DPR) is currently 50.05%.

Institutional Investors Weigh In On Phillips 66

Several hedge funds and other institutional investors have recently bought and sold shares of PSX. Brighton Jones LLC raised its stake in Phillips 66 by 238.5% during the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock worth $1,166,000 after acquiring an additional 7,214 shares in the last quarter. Woodline Partners LP raised its stake in Phillips 66 by 40.7% during the 1st quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company's stock worth $4,308,000 after acquiring an additional 10,089 shares in the last quarter. Sei Investments Co. raised its stake in Phillips 66 by 28.3% during the 2nd quarter. Sei Investments Co. now owns 157,455 shares of the oil and gas company's stock worth $18,788,000 after acquiring an additional 34,698 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Phillips 66 by 9.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 346,679 shares of the oil and gas company's stock worth $41,359,000 after acquiring an additional 28,988 shares in the last quarter. Finally, Glenview Trust co raised its stake in Phillips 66 by 2.6% during the 2nd quarter. Glenview Trust co now owns 8,949 shares of the oil and gas company's stock worth $1,068,000 after acquiring an additional 229 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Weiss Ratings cut shares of Phillips 66 from a "buy (b-)" rating to a "hold (c)" rating in a research report on Friday, May 1st. UBS Group raised their price objective on shares of Phillips 66 from $172.00 to $212.00 and gave the company a "buy" rating in a report on Thursday, April 2nd. TD Cowen raised their price objective on shares of Phillips 66 from $155.00 to $213.00 and gave the company a "buy" rating in a report on Wednesday, April 1st. Wolfe Research raised their price objective on shares of Phillips 66 from $187.00 to $193.00 and gave the company an "outperform" rating in a report on Monday, April 6th. Finally, Argus raised their price objective on shares of Phillips 66 from $152.00 to $185.00 and gave the company a "buy" rating in a report on Tuesday, February 10th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $184.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.