Phillips 66 (NYSE:PSX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Phillips 66 (NYSE:PSX) have received an average recommendation of “Moderate Buy” from the twenty-two analysts that are covering the firm, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $196.0556.

Several research analysts have recently weighed in on the stock. TD Cowen boosted their price objective on shares of Phillips 66 from $213.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Scotiabank raised their target price on shares of Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. BMO Capital Markets lifted their price target on Phillips 66 from $195.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Argus boosted their price target on Phillips 66 from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Finally, Zacks Research lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 11,021 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the completion of the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at $18,504,361.28. This trade represents a 10.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Omar Meyers acquired 175 shares of Phillips 66 stock in a transaction on Wednesday, May 6th. The shares were bought at an average cost of $173.12 per share, with a total value of $30,296.00. Following the completion of the transaction, the director owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders sold 41,021 shares of company stock worth $7,195,257. 0.40% of the stock is owned by company insiders.

Institutional Trading of Phillips 66

Hedge funds and other institutional investors have recently bought and sold shares of the business. Key Client Fiduciary Advisors LLC grew its stake in shares of Phillips 66 by 3.5% in the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 1,624 shares of the oil and gas company’s stock valued at $275,000 after buying an additional 55 shares in the last quarter. Threadgill Financial LLC raised its position in Phillips 66 by 3.5% during the second quarter. Threadgill Financial LLC now owns 1,693 shares of the oil and gas company’s stock valued at $286,000 after acquiring an additional 58 shares in the last quarter. Somerset Trust Co raised its position in Phillips 66 by 0.3% during the second quarter. Somerset Trust Co now owns 21,301 shares of the oil and gas company’s stock valued at $3,601,000 after acquiring an additional 63 shares in the last quarter. Clifford Group LLC lifted its stake in Phillips 66 by 2.0% in the fourth quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock valued at $428,000 after acquiring an additional 64 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its stake in Phillips 66 by 0.8% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 8,255 shares of the oil and gas company’s stock valued at $1,504,000 after acquiring an additional 65 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of PSX opened at $206.96 on Monday. The company has a market cap of $82.97 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 0.27 and a beta of 0.69. Phillips 66 has a 1-year low of $118.07 and a 1-year high of $207.14. The company’s fifty day simple moving average is $179.03 and its 200 day simple moving average is $165.75. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $1.03. The firm had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.90) earnings per share. On average, research analysts forecast that Phillips 66 will post 19.84 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be issued a dividend of $1.27 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.5%. Phillips 66’s payout ratio is presently 50.05%.

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.