Phillips 66 (NYSE:PSX) Sees Significant Decline in Short Interest

Phillips 66 (NYSE:PSX) was the recipient of a significant drop in short interest in the month of November. As of November 29th, there was short interest totalling 5,320,000 shares, a drop of 15.4% from the November 14th total of 6,290,000 shares. Based on an average daily trading volume, of 2,520,000 shares, the short-interest ratio is presently 2.1 days. Approximately 1.2% of the company’s shares are short sold.

NYSE:PSX traded down $0.74 during trading hours on Friday, hitting $112.99. The stock had a trading volume of 1,492,300 shares, compared to its average volume of 2,591,388. Phillips 66 has a 1-year low of $78.44 and a 1-year high of $119.92. The company has a current ratio of 1.29, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. The company has a market cap of $49.86 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 1.96 and a beta of 1.11. The business has a 50 day simple moving average of $116.07 and a two-hundred day simple moving average of $102.21.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, October 25th. The oil and gas company reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $0.51. Phillips 66 had a net margin of 4.17% and a return on equity of 19.31%. The business had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $28.31 billion. During the same quarter last year, the company earned $3.10 earnings per share. Research analysts expect that Phillips 66 will post 8.79 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Friday, November 15th. Phillips 66’s dividend payout ratio (DPR) is presently 30.74%.

In related news, EVP Robert A. Herman sold 47,433 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $103.17, for a total value of $4,893,662.61. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Chukwuemeka A. Oyolu sold 464 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $119.53, for a total transaction of $55,461.92. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in PSX. Advisors Preferred LLC bought a new stake in shares of Phillips 66 during the second quarter valued at about $25,000. Atwater Malick LLC bought a new position in Phillips 66 in the 3rd quarter worth approximately $27,000. TRUE Private Wealth Advisors bought a new position in Phillips 66 in the 2nd quarter worth approximately $26,000. Rational Advisors LLC increased its position in Phillips 66 by 41.1% in the 3rd quarter. Rational Advisors LLC now owns 374 shares of the oil and gas company’s stock worth $38,000 after buying an additional 109 shares during the period. Finally, Coastal Capital Group Inc. bought a new position in Phillips 66 in the 2nd quarter worth approximately $37,000. Hedge funds and other institutional investors own 68.42% of the company’s stock.

PSX has been the subject of several recent research reports. Morgan Stanley increased their price objective on shares of Phillips 66 from $115.00 to $125.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Cowen increased their price objective on shares of Phillips 66 from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Co increased their price objective on shares of Phillips 66 from $130.00 to $132.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. Zacks Investment Research downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a research report on Tuesday, October 29th. Finally, Raymond James increased their price objective on shares of Phillips 66 from $117.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $119.80.

About Phillips 66

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; provides terminaling and storage services for crude oil and 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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