Phillips 66 (NYSE:PSX) Reaches New 12-Month High – What’s Next?

Phillips 66 (NYSE:PSX) hit a new 52-week high during trading on Wednesday . The company traded as high as $143.76 and last traded at $143.6680, with a volume of 1338119 shares changing hands. The stock had previously closed at $139.88.

Analyst Ratings Changes

A number of brokerages recently weighed in on PSX. Wolfe Research raised their price objective on Phillips 66 from $158.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, December 5th. UBS Group reissued a “buy” rating and issued a $160.00 price target on shares of Phillips 66 in a research report on Monday, November 10th. Bank of America cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $144.00 to $147.00 in a research note on Wednesday, September 3rd. Cowen reiterated a “buy” rating on shares of Phillips 66 in a research note on Thursday, October 30th. Finally, Raymond James Financial lifted their target price on shares of Phillips 66 from $153.00 to $169.00 and gave the stock an “outperform” rating in a report on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $147.88.

Phillips 66 Price Performance

The stock has a market cap of $57.89 billion, a P/E ratio of 39.25, a price-to-earnings-growth ratio of 0.73 and a beta of 0.92. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. The company’s fifty day simple moving average is $135.15 and its 200-day simple moving average is $128.84.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.14 by $0.38. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.The business had revenue of $33.69 billion during the quarter, compared to the consensus estimate of $32.29 billion. During the same quarter last year, the company earned $2.04 EPS. As a group, sell-side analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were paid a $1.20 dividend. The ex-dividend date was Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.3%. Phillips 66’s payout ratio is 131.15%.

Insider Buying and Selling

In related news, EVP Brian Mandell sold 25,500 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $140.04, for a total transaction of $3,571,020.00. Following the completion of the sale, the executive vice president directly owned 56,838 shares of the company’s stock, valued at $7,959,593.52. This trade represents a 30.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the transaction, the executive vice president directly owned 34,587 shares in the company, valued at approximately $4,842,180. This represents a 11.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 86,093 shares of company stock worth $11,933,256 in the last three months. Insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its position in shares of Phillips 66 by 11.2% during the third quarter. Allworth Financial LP now owns 18,414 shares of the oil and gas company’s stock worth $2,505,000 after purchasing an additional 1,855 shares in the last quarter. IFP Advisors Inc raised its position in Phillips 66 by 7.0% in the 3rd quarter. IFP Advisors Inc now owns 8,294 shares of the oil and gas company’s stock worth $1,128,000 after purchasing an additional 545 shares during the last quarter. Swiss Life Asset Management Ltd lifted its holdings in Phillips 66 by 16.5% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 57,476 shares of the oil and gas company’s stock worth $7,818,000 after buying an additional 8,134 shares in the last quarter. Investment Research Partners LLC acquired a new position in Phillips 66 during the 3rd quarter worth $375,000. Finally, KERR FINANCIAL PLANNING Corp bought a new position in Phillips 66 in the 3rd quarter valued at $50,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Company Profile

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.