Phillips 66 (NYSE:PSX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Phillips 66 (NYSE:PSX) have received a consensus rating of “Moderate Buy” from the twenty-two research firms that are covering the stock, MarketBeat reports. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $196.0556.

PSX has been the topic of several analyst reports. BMO Capital Markets upped their target price on shares of Phillips 66 from $195.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. The Goldman Sachs Group upped their price objective on Phillips 66 from $192.00 to $207.00 and gave the company a “neutral” rating in a research report on Tuesday, May 19th. UBS Group reiterated a “buy” rating and set a $212.00 target price on shares of Phillips 66 in a research note on Monday, June 15th. Tudor Pickering upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Finally, Morgan Stanley increased their price objective on Phillips 66 from $180.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, June 12th.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 29,400 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the sale, the chief financial officer directly owned 97,376 shares in the company, valued at $16,553,920. This represents a 23.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kevin Omar Meyers purchased 175 shares of Phillips 66 stock in a transaction that occurred on Wednesday, May 6th. The stock was bought at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the purchase, the director directly owned 16,799 shares in the company, valued at $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 three months, insiders sold 41,021 shares of company stock worth $7,195,257. 0.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Phillips 66

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PSX. Key Client Fiduciary Advisors LLC lifted its holdings in Phillips 66 by 3.5% in the second quarter. Key Client Fiduciary Advisors LLC now owns 1,624 shares of the oil and gas company’s stock valued at $275,000 after acquiring an additional 55 shares during the period. Threadgill Financial LLC increased its position in shares of Phillips 66 by 3.5% during the 2nd quarter. Threadgill Financial LLC now owns 1,693 shares of the oil and gas company’s stock worth $286,000 after purchasing an additional 58 shares during the last quarter. Somerset Trust Co lifted its stake 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 worth $3,601,000 after purchasing an additional 63 shares during the last quarter. Clifford Group LLC boosted its position in shares of Phillips 66 by 2.0% during the 4th quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock worth $428,000 after purchasing an additional 64 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC grew its holdings in Phillips 66 by 0.8% in the 1st 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 buying an additional 65 shares during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

Phillips 66 stock opened at $206.96 on Monday. The firm’s fifty day moving average price is $179.03 and its 200-day moving average price is $165.49. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. The stock has a market cap of $82.97 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 0.26 and a beta of 0.69. Phillips 66 has a fifty-two week low of $118.07 and a fifty-two week high of $207.14.

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 business had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.Phillips 66’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the company earned ($0.90) EPS. On average, equities research analysts expect that Phillips 66 will post 19.84 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

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

Phillips 66 Company Profile

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.