Phillips 66 (NYSE:PSX) Director Purchases $125,970.00 in Stock

Key Points

• Phillips 66 Director Michael A. Heim purchased 1,000 shares of stock at an average price of $125.97, totaling $125,970, increasing his ownership position by 9.06%.
• The company recently announced a quarterly dividend of $1.20, reflecting an annualized yield of 4.0%, with a payout ratio currently at 115.38%.
• Phillips 66 reported $2.38 earnings per share for the last quarter, surpassing analyst estimates of $1.79, with revenues of $33.77 billion.

Phillips 66 (NYSE:PSX - Get Free Report) Director Michael A. Heim acquired 1,000 shares of the business's stock in a transaction dated Wednesday, July 30th. The stock was purchased at an average price of $125.97 per share, with a total value of $125,970.00. Following the completion of the transaction, the director directly owned 12,043 shares of the company's stock, valued at $1,517,056.71. This trade represents a 9.06% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Phillips 66 Trading Down 3.2%

Shares of PSX traded down $3.99 during mid-day trading on Friday, reaching $119.59. The company's stock had a trading volume of 2,115,491 shares, compared to its average volume of 2,654,539. The stock has a market cap of $48.33 billion, a PE ratio of 28.75, a P/E/G ratio of 1.68 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 0.88 and a debt-to-equity ratio of 0.60. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $140.85. The company's fifty day moving average price is $122.28 and its two-hundred day moving average price is $118.88.

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 for the quarter, topping analysts' consensus estimates of $1.79 by $0.59. The firm had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same period in the previous year, the business posted $2.31 EPS. On average, analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Tuesday, August 19th. Phillips 66's payout ratio is presently 115.38%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Wolff Wiese Magana LLC grew its position in shares of Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company's stock worth $26,000 after buying an additional 82 shares during the period. von Borstel & Associates Inc. bought a new position in shares of Phillips 66 in the 1st quarter worth approximately $27,000. Olde Wealth Management LLC bought a new position in shares of Phillips 66 in the 1st quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new position in Phillips 66 in the 1st quarter worth approximately $29,000. Finally, Pacific Center for Financial Services purchased a new stake in Phillips 66 during the 4th quarter valued at approximately $27,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PSX. Cantor Fitzgerald began coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They issued a "neutral" rating for the company. JPMorgan Chase & Co. set a $115.00 price objective on shares of Phillips 66 in a research report on Wednesday, June 18th. Tudor Pickering lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Scotiabank restated a "sector perform" rating and issued a $133.00 price objective on shares of Phillips 66 in a research report on Friday, July 11th. Finally, TD Cowen lifted their target price on shares of Phillips 66 from $130.00 to $134.00 and gave the company a "buy" rating in a research report on Monday. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Phillips 66 presently has an average rating of "Hold" and an average target price of $136.13.

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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