Noticeable Insider Trading: Phillips 66 (PSX)

Phillips 66 (NYSE:PSX) insider has recently participated in insider trading activity. 10% Owner, BERKSHIRE HATHAWAY INC bought 30,953 shares for $2,289,364 via one transaction Feb 12. Following the transaction, the insider now owns 75,550,745 shares in total, priced at $5677638487 as of Friday. Another notable insider trading was done by the same insider on Feb 11. BERKSHIRE HATHAWAY INC acquired 1,025,225 shares at an average price of $72.83 for a total of $74,667,523. Moreover, this insider carried out a purchase of 23,300            shares at $74.91 each on Feb 10. The transaction amounted to $1,745,352. The insider also bought 41,800 shares for $3,133,173 through one transaction Feb 09.

The stock has experienced a total of 32 insider trades in the past three months. These trades include Zero sell activities and 32 buy trades. Furthermore, over the past 12 months, the stock was traded 43 times by insiders. In 2 of these trades, the insider was a seller while an employee of the company was the buyer in forty one instances.

Phillips 66 (PSX) on February 12, 2016 reported that its President Tim Taylor will speak to investors and securities analysts at the 2016 Credit Suisse Energy Summit on Tuesday, Feb. 23, 2016, at 9:10 a.m. MST. Taylor will discuss the company’s execution of its value-creating strategy, including an update on growth projects, return enhancement opportunities and commitment to disciplined capital allocation.

In separate news, on February 3, 2016, the board of directors of Phillips 66 (PSX) has declared a quarterly dividend of 56 cents per share on Phillips 66 common stock. The dividend is payable on March 1, 2016, to shareholders of record as of the close of business on Feb. 16, 2016.

Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company’s master limited partnership, is an integral asset in the portfolio. Headquartered in Houston, the company has 14,000 employees committed to safety and operating excellence. Phillips 66 had $49 billion of assets as of Dec. 31, 2015.