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

Phillips 66 (NYSE:PSX) has been given an average rating of “Moderate Buy” by the twenty-three brokerages that are covering the stock, MarketBeat.com reports. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $187.1111.

PSX has been the topic of several research reports. Morgan Stanley reaffirmed an “overweight” rating and set a $180.00 price target on shares of Phillips 66 in a report on Thursday, April 30th. JPMorgan Chase & Co. lifted their price target on shares of Phillips 66 from $188.00 to $202.00 in a report on Thursday, April 30th. Weiss Ratings lowered shares of Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Barclays lifted their price target on shares of Phillips 66 from $158.00 to $177.00 and gave the company an “equal weight” rating in a report on Wednesday, April 8th. Finally, Citigroup lifted their price target on shares of Phillips 66 from $159.00 to $183.00 and gave the company a “neutral” rating in a report on Thursday, April 9th.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Kevin Omar Meyers bought 175 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The shares were acquired at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the transaction, the director directly owned 16,799 shares in the company, valued at approximately $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lisa Ann Davis sold 3,800 shares of Phillips 66 stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $174.37, for a total transaction of $662,606.00. Following the sale, the director owned 8,701 shares in the company, valued at approximately $1,517,193.37. This represents a 30.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 114,029 shares of company stock valued at $19,641,455 in the last quarter. 0.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Phillips 66

Hedge funds have recently added to or reduced their stakes in the business. Board of the Pension Protection Fund acquired a new stake in Phillips 66 during the 4th quarter worth approximately $26,000. Accordant Advisory Group Inc boosted its position in Phillips 66 by 900.0% during the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after buying an additional 180 shares during the period. Eagle Bay Advisors LLC acquired a new stake in Phillips 66 during the 4th quarter worth approximately $27,000. NFSG Corp boosted its position in Phillips 66 by 105.6% during the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after buying an additional 75 shares during the period. Finally, SWAN Capital LLC boosted its position in Phillips 66 by 1,055.6% during the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after buying an additional 190 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Trading Up 2.3%

Shares of Phillips 66 stock opened at $178.03 on Friday. The firm has a market capitalization of $71.38 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 0.26 and a beta of 0.70. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The firm’s 50 day moving average is $172.12 and its 200 day moving average is $153.30. Phillips 66 has a 1 year low of $111.19 and a 1 year high of $190.61.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $1.03. The company 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 firm’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.90) EPS. Equities research analysts forecast that Phillips 66 will post 17.64 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 Monday, June 1st. Investors of record on Monday, May 18th will be given a dividend of $1.27 per share. The ex-dividend date is Monday, May 18th. This represents a $5.08 annualized dividend and a yield of 2.9%. Phillips 66’s dividend payout ratio (DPR) is currently 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.