Phillips 66 (NYSE:PSX) Price Target Raised to $177.00

Phillips 66 (NYSE:PSX) had its price target hoisted by Barclays from $158.00 to $177.00 in a research report released on Wednesday, Marketbeat.com reports. Barclays currently has an equal weight rating on the oil and gas company’s stock.

Other analysts have also recently issued research reports about the stock. Citigroup raised their price objective on shares of Phillips 66 from $146.00 to $159.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. The Goldman Sachs Group raised their price objective on shares of Phillips 66 from $168.00 to $186.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Wolfe Research raised their price objective on shares of Phillips 66 from $187.00 to $193.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Mizuho raised their target price on shares of Phillips 66 from $152.00 to $170.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 17th. Finally, TD Cowen raised their target price on shares of Phillips 66 from $155.00 to $213.00 and gave the stock a “buy” rating in a research report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $180.72.

Phillips 66 Stock Down 1.0%

PSX stock opened at $159.44 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62. Phillips 66 has a twelve month low of $93.50 and a twelve month high of $190.61. The company’s 50 day moving average is $165.68 and its two-hundred day moving average is $146.21. The stock has a market cap of $63.90 billion, a P/E ratio of 14.74, a PEG ratio of 0.29 and a beta of 0.76.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.32. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. The company had revenue of $32.16 billion for the quarter, compared to analysts’ expectations of $33.81 billion. During the same quarter last year, the company earned ($0.15) earnings per share. Research analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were given a $1.27 dividend. This is a positive change from Phillips 66’s previous quarterly dividend of $1.20. The ex-dividend date was Monday, February 23rd. This represents a $5.08 dividend on an annualized basis and a yield of 3.2%. Phillips 66’s payout ratio is 46.95%.

Insider Transactions at Phillips 66

In related news, EVP Brian Mandell sold 42,800 shares of Phillips 66 stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $169.53, for a total value of $7,255,884.00. Following the transaction, the executive vice president directly owned 61,595 shares in the company, valued at $10,442,200.35. This trade represents a 41.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Don Baldridge sold 7,500 shares of Phillips 66 stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the executive vice president owned 38,488 shares in the company, valued at approximately $6,158,080. This trade represents a 16.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 95,923 shares of company stock worth $16,399,619 over the last quarter. 0.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Phillips 66

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Phillips 66 by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company’s stock worth $6,701,052,000 after purchasing an additional 205,480 shares in the last quarter. State Street Corp boosted its position in shares of Phillips 66 by 0.8% during the 4th quarter. State Street Corp now owns 23,589,550 shares of the oil and gas company’s stock worth $3,043,996,000 after purchasing an additional 175,616 shares in the last quarter. Elliott Investment Management L.P. boosted its position in shares of Phillips 66 by 22.4% during the 2nd quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock worth $2,296,644,000 after purchasing an additional 3,526,000 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Phillips 66 by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company’s stock worth $1,338,596,000 after purchasing an additional 45,340 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Phillips 66 during the 4th quarter worth $640,206,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Phillips 66

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Multiple bullish analyst actions: Wolfe Research and UBS published buy calls, reinforcing a positive long-term view on execution and cash return potential. Phillips 66 (PSX) Gets a Buy from Wolfe Research UBS Sticks to Their Buy Rating for Phillips 66 (PSX)
• Positive Sentiment: Valuation lifts from independent research: a recent fair-value update raised PSX’s assessed value (from US$165.45 to ~US$179.10), reflecting higher pricing assumptions across the Street. This supports a higher base for targets. How The Evolving Investment Story Is Shaping Phillips 66 (PSX) Valuation Targets
• Positive Sentiment: Broker price-target increases continue: independent outlets and aggregators show new targets in the high $170s–$195 range, supporting upside versus recent levels. Example: a $195 target was published and several banks raised targets this week. Phillips 66 (NYSE:PSX) Price Target Raised to $195.00
• Neutral Sentiment: Goldman Sachs raised its price target to $192 but kept a neutral rating — that implies upside in target but not an upgrade in conviction. Goldman Sachs adjusts price target on Phillips 66 to $192
• Neutral Sentiment: Context on refining economics: industry coverage notes that refiners are still seeing elevated “war-era” crack spreads (strong near-term margins), which supports earnings but leaves PSX exposed to swings in crude and product prices. Crude Fell, The Crack Spread Didn’t: 6 Refiner Stocks To Watch This Earnings Season
• Negative Sentiment: Company-disclosed derivatives hit: Phillips 66 flagged roughly a $900 million derivatives loss tied to net-short commodity positions as oil and diesel surged amid geopolitical-driven crude volatility — a direct, near-term earnings/cash-impact item and clear reason for investor caution. Phillips 66 Flags $900 Million Derivatives Loss As Oil Surges 68%
• Negative Sentiment: Ongoing commodity exposure and crude trade-flow risk: analysts raising targets continue to warn that PSX’s earnings remain sensitive to crude/diesel swings and refining cracks; the recent geopolitical shock is reinforcing that risk premium and likely pressured the stock. Phillips 66: Strong Execution, But The Stock Got There First

About Phillips 66

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.