Phillips 66 (NYSE:PSX) EVP Sells 3,300 Shares of Stock

Key Points

• Phillips 66 EVP Brian Mandell sold 3,300 shares at an average price of $214.02, generating $706,266 and reducing his holdings by 5.09% to 61,595 shares. He also recently sold an additional 30,000 shares for $6.45 million.
• Phillips 66 shares recently reached $226.09, near their 52-week high of $226.60. The company reported quarterly EPS of $9.41, beating estimates by $1.91, while revenue of $52.04 billion exceeded expectations.
• The company approved a $10 billion share-repurchase plan covering up to 11.8% of shares and declared a quarterly dividend of $1.27, or $5.08 annually, yielding approximately 2.2%.

Phillips 66 (NYSE:PSX - Get Free Report) EVP Brian Mandell sold 3,300 shares of the company's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $214.02, for a total transaction of $706,266.00. Following the transaction, the executive vice president owned 61,595 shares in the company, valued at approximately $13,182,561.90. This trade represents a 5.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Brian Mandell also recently made the following trade(s):

• On Tuesday, August 11th, Brian Mandell sold 30,000 shares of Phillips 66 stock. The shares were sold at an average price of $215.00, for a total transaction of $6,450,000.00.

Phillips 66 Price Performance

Shares of NYSE PSX traded up $1.73 during trading on Wednesday, reaching $226.09. The company had a trading volume of 2,575,402 shares, compared to its average volume of 2,831,277. Phillips 66 has a 52 week low of $119.54 and a 52 week high of $226.60. The stock has a market cap of $90.21 billion, a PE ratio of 12.88, a PEG ratio of 0.16 and a beta of 0.68. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.32. The business's 50 day moving average price is $189.93 and its 200-day moving average price is $174.32.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, beating the consensus estimate of $7.50 by $1.91. The business had revenue of $52.04 billion for the quarter, compared to analysts' expectations of $43.60 billion. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. During the same period in the prior year, the firm earned $2.38 earnings per share. Analysts expect that Phillips 66 will post 23.99 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Tuesday, August 18th. Phillips 66's dividend payout ratio (DPR) is presently 28.95%.

Phillips 66 announced that its board has approved a stock buyback plan on Friday, July 31st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the oil and gas company to purchase up to 11.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are undervalued.

Institutional Trading of Phillips 66

A number of large investors have recently made changes to their positions in PSX. Key Client Fiduciary Advisors LLC boosted its stake in Phillips 66 by 3.5% in the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 1,624 shares of the oil and gas company's stock worth $275,000 after buying an additional 55 shares during the last quarter. Threadgill Financial LLC increased its stake in shares of Phillips 66 by 3.5% during the 2nd quarter. Threadgill Financial LLC now owns 1,693 shares of the oil and gas company's stock valued at $286,000 after acquiring an additional 58 shares during the last quarter. Calamos Wealth Management LLC lifted its holdings in shares of Phillips 66 by 2.0% during the 2nd quarter. Calamos Wealth Management LLC now owns 3,084 shares of the oil and gas company's stock worth $521,000 after acquiring an additional 60 shares during the period. Somerset Trust Co lifted its holdings in shares of Phillips 66 by 0.3% during the 2nd quarter. Somerset Trust Co now owns 21,301 shares of the oil and gas company's stock worth $3,601,000 after acquiring an additional 63 shares during the period. Finally, Clifford Group LLC boosted its position in shares of Phillips 66 by 2.0% in the fourth quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company's stock worth $428,000 after acquiring an additional 64 shares during the last quarter. Institutional investors own 76.93% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PSX shares. BMO Capital Markets upped their price target on Phillips 66 from $195.00 to $215.00 and gave the company an "outperform" rating in a research note on Wednesday, May 13th. The Goldman Sachs Group boosted their price objective on Phillips 66 from $207.00 to $235.00 and gave the stock a "neutral" rating in a report on Wednesday, July 22nd. Citigroup restated a "neutral" rating on shares of Phillips 66 in a research report on Thursday, August 6th. Wells Fargo & Company raised their target price on shares of Phillips 66 from $201.00 to $239.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Finally, Jefferies Financial Group lifted their price target on shares of Phillips 66 from $191.00 to $207.00 and gave the stock a "hold" rating in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $206.56.

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.

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