Investors Sell Phillips 66 (PSX) on Strength (PSX)

Traders sold shares of Phillips 66 (NYSE:PSX) on strength during trading hours on Monday. $69.90 million flowed into the stock on the tick-up and $102.15 million flowed out of the stock on the tick-down, for a money net flow of $32.25 million out of the stock. Of all equities tracked, Phillips 66 had the 26th highest net out-flow for the day. Phillips 66 traded up $0.71 for the day and closed at $94.23

Several equities analysts have recently issued reports on PSX shares. Morgan Stanley reduced their target price on Phillips 66 from $140.00 to $120.00 and set a “hold” rating on the stock in a research note on Tuesday, November 20th. Wells Fargo & Co boosted their target price on Phillips 66 from $137.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, October 29th. Jefferies Financial Group raised Phillips 66 from an “underperform” rating to a “hold” rating and set a $108.00 target price on the stock in a research note on Tuesday, October 16th. JPMorgan Chase & Co. raised Phillips 66 from a “neutral” rating to an “overweight” rating and set a $138.00 target price on the stock in a research note on Tuesday, October 30th. They noted that the move was a valuation call. Finally, ValuEngine cut Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday, November 23rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $123.62.

The company has a quick ratio of 0.82, a current ratio of 1.28 and a debt-to-equity ratio of 0.43. The company has a market cap of $43.12 billion, a PE ratio of 8.05, a P/E/G ratio of 1.28 and a beta of 0.94.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, February 8th. The oil and gas company reported $4.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.76 by $2.11. Phillips 66 had a return on equity of 22.18% and a net margin of 4.90%. The company had revenue of $29.84 billion for the quarter, compared to analyst estimates of $35.51 billion. During the same period in the previous year, the company posted $1.07 earnings per share. As a group, analysts anticipate that Phillips 66 will post 8.58 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Tuesday, February 19th will be given a dividend of $0.80 per share. The ex-dividend date is Friday, February 15th. This represents a $3.20 annualized dividend and a dividend yield of 3.40%. Phillips 66’s dividend payout ratio is presently 27.33%.

In other news, Director J Brian Ferguson purchased 21,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 20th. The shares were bought at an average cost of $92.31 per share, for a total transaction of $1,984,665.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.56% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in shares of Phillips 66 by 13.6% during the third quarter. BlackRock Inc. now owns 33,103,803 shares of the oil and gas company’s stock valued at $3,731,461,000 after purchasing an additional 3,956,900 shares in the last quarter. Vanguard Group Inc boosted its position in shares of Phillips 66 by 2.8% during the third quarter. Vanguard Group Inc now owns 32,998,567 shares of the oil and gas company’s stock valued at $3,719,598,000 after purchasing an additional 885,979 shares in the last quarter. FMR LLC boosted its position in shares of Phillips 66 by 9.0% during the second quarter. FMR LLC now owns 14,400,087 shares of the oil and gas company’s stock valued at $1,617,273,000 after purchasing an additional 1,188,567 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Phillips 66 by 0.5% during the third quarter. Wells Fargo & Company MN now owns 8,468,401 shares of the oil and gas company’s stock valued at $954,557,000 after purchasing an additional 39,493 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Phillips 66 by 3.4% during the fourth quarter. Bank of New York Mellon Corp now owns 6,647,531 shares of the oil and gas company’s stock valued at $572,684,000 after purchasing an additional 218,018 shares in the last quarter. Institutional investors own 70.76% of the company’s stock.

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About Phillips 66 (NYSE:PSX)

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

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