Phillips 66 (NYSE:PSX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Phillips 66 (NYSE:PSX) have received a consensus recommendation of “Moderate Buy” from the twenty-three research firms that are covering the firm, Marketbeat.com reports. Twelve research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $150.4118.

A number of equities analysts have recently weighed in on PSX shares. Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $154.00 to $162.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Citigroup boosted their price target on Phillips 66 from $137.00 to $146.00 and gave the company a “neutral” rating in a report on Wednesday. Morgan Stanley increased their price target on Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Friday, October 3rd. Wall Street Zen downgraded Phillips 66 from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Finally, Zacks Research upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 18th.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $138.00, for a total value of $4,140,000.00. Following the sale, the chief financial officer directly owned 89,771 shares of the company’s stock, valued at approximately $12,388,398. This trade represents a 25.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brian Mandell sold 26,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $137.68, for a total transaction of $3,607,216.00. Following the completion of the sale, the executive vice president owned 56,838 shares of the company’s stock, valued at approximately $7,825,455.84. The trade was a 31.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 86,094 shares of company stock worth $11,955,366 in the last three months. Company insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. L2 Asset Management LLC grew its position in Phillips 66 by 4.0% during the third quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock valued at $257,000 after acquiring an additional 72 shares during the period. Mesirow Financial Investment Management Inc. lifted its stake in shares of Phillips 66 by 0.5% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 15,658 shares of the oil and gas company’s stock valued at $2,130,000 after purchasing an additional 73 shares in the last quarter. KCM Investment Advisors LLC grew its holdings in shares of Phillips 66 by 1.6% during the 3rd quarter. KCM Investment Advisors LLC now owns 4,636 shares of the oil and gas company’s stock worth $631,000 after purchasing an additional 74 shares during the period. Abacus Planning Group Inc. increased its position in Phillips 66 by 3.9% during the 4th quarter. Abacus Planning Group Inc. now owns 1,989 shares of the oil and gas company’s stock worth $257,000 after purchasing an additional 74 shares in the last quarter. Finally, Heck Capital Advisors LLC raised its holdings in Phillips 66 by 1.2% in the third quarter. Heck Capital Advisors LLC now owns 6,124 shares of the oil and gas company’s stock valued at $833,000 after buying an additional 75 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Down 1.2%

Shares of NYSE:PSX opened at $138.27 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.23 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $55.71 billion, a P/E ratio of 37.78, a P/E/G ratio of 0.38 and a beta of 0.90. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $145.68. The stock’s fifty day simple moving average is $136.07 and its 200-day simple moving average is $132.02.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.The firm had revenue of $33.69 billion during the quarter, compared to analysts’ expectations of $32.29 billion. During the same quarter last year, the business posted $2.04 EPS. As a group, equities research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

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.