Brian Mandell Sells 9,800 Shares of Phillips 66 (NYSE:PSX) Stock

Phillips 66 (NYSE:PSX - Get Free Report) EVP Brian Mandell sold 9,800 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total value of $1,225,000.00. Following the transaction, the executive vice president now owns 56,838 shares of the company's stock, valued at approximately $7,104,750. This represents a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Phillips 66 Stock Performance

PSX traded down $3.63 on Monday, reaching $121.15. The company had a trading volume of 4,497,171 shares, compared to its average volume of 3,081,143. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $150.12. The stock has a market capitalization of $49.36 billion, a PE ratio of 27.60, a P/E/G ratio of 1.94 and a beta of 1.02. The stock has a 50-day moving average price of $112.45 and a 200-day moving average price of $117.05.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.97). The firm had revenue of $31.92 billion during the quarter, compared to analysts' expectations of $31.93 billion. Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. During the same period in the previous year, the firm posted $1.90 earnings per share. As a group, research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a $1.20 dividend. The ex-dividend date was Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a yield of 3.96%. This is a boost from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's payout ratio is currently 109.34%.

Analysts Set New Price Targets

PSX has been the topic of a number of research reports. Evercore ISI began coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They set an "outperform" rating and a $130.00 target price on the stock. Mizuho increased their price objective on Phillips 66 from $132.00 to $138.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. set a $115.00 target price on Phillips 66 in a report on Wednesday, June 18th. Wall Street Zen raised Phillips 66 from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Finally, TD Cowen boosted their price objective on Phillips 66 from $114.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Phillips 66 currently has an average rating of "Moderate Buy" and a consensus price target of $133.93.

Institutional Investors Weigh In On Phillips 66

Large investors have recently modified their holdings of the company. Elliott Investment Management L.P. boosted its stake in Phillips 66 by 1,929.0% during the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company's stock worth $1,941,723,000 after purchasing an additional 14,950,000 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Phillips 66 by 283.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock worth $686,618,000 after buying an additional 4,455,220 shares during the period. Norges Bank acquired a new stake in shares of Phillips 66 during the fourth quarter worth about $497,648,000. Raymond James Financial Inc. purchased a new position in shares of Phillips 66 during the fourth quarter worth about $168,790,000. Finally, Nuveen LLC acquired a new position in Phillips 66 in the 1st quarter valued at about $156,482,000. 76.93% of the stock is owned by institutional investors and hedge funds.

About Phillips 66

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.