Phillips 66 (NYSE:PSX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Phillips 66 (NYSE:PSX) have received an average rating of “Moderate Buy” from the twenty-two analysts that are presently covering the stock, MarketBeat reports. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $193.9444.

PSX has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on shares of Phillips 66 from $180.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. JPMorgan Chase & Co. lifted their target price on Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. Wall Street Zen upgraded Phillips 66 from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. Barclays increased their price target on Phillips 66 from $177.00 to $183.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Argus raised their price target on Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Thursday, May 14th.

Phillips 66 News Summary

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

• Positive Sentiment: Phillips 66 announced a quarterly dividend of $1.27 per share, reinforcing its income appeal for investors and signaling continued shareholder returns. Phillips 66 Announces Quarterly Dividend
• Positive Sentiment: Recent commentary noted that higher crude prices and renewed Middle East tensions could support refining margins and help Phillips 66, since the company can benefit when fuel spreads remain favorable. What Do Renewed Middle East Tensions Mean for Phillips 66’s Business?
• Positive Sentiment: Analysts highlighted Phillips 66 as a momentum name, and the stock has been outperforming broader market moves, which can attract additional buying interest. Why Phillips 66 (PSX) is a top momentum stock for the long term
• Neutral Sentiment: Barclays raised its price target on Phillips 66 to $183 from $177 but kept an equal-weight rating, suggesting a modestly cautious stance rather than a strong bullish call. Phillips 66 (NYSE:PSX) Given New $183.00 Price Target at Barclays
• Neutral Sentiment: Coverage also focused on analysts’ views and dividend-related news, which supports investor attention but does not materially change the company’s operating outlook by itself. Analysts Offer Insights on Energy Companies: Exxon Mobil (XOM) and Phillips 66 (PSX)
• Negative Sentiment: One market update said Phillips 66 was set to snap a six-session winning streak, indicating some near-term cooling after the recent rally. Phillips 66 set to snap six straight sessions of gains

Phillips 66 Stock Performance

Shares of PSX opened at $188.59 on Monday. The stock has a market capitalization of $75.61 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 0.25 and a beta of 0.69. Phillips 66 has a 12 month low of $118.07 and a 12 month high of $193.04. The firm has a fifty day simple moving average of $176.38 and a 200 day simple moving average of $163.20. 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 issued 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. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. During the same period in the previous year, the business earned ($0.90) EPS. The company’s revenue was up 6.9% compared to the same quarter last year. Research analysts forecast that Phillips 66 will post 19.3 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be issued a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66’s dividend payout ratio is presently 50.05%.

Insider Buying and Selling at Phillips 66

In related news, CFO Kevin J. Mitchell sold 29,400 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $170.00, for a total value of $4,998,000.00. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $16,553,920. This trade represents a 23.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kevin Omar Meyers bought 175 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were purchased at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the acquisition, the director owned 16,799 shares of the company’s stock, valued at $2,908,242.88. The trade was a 1.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Phillips 66

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Phillips 66 by 0.4% during the fourth 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 during the period. State Street Corp raised its stake in Phillips 66 by 0.8% in the fourth quarter. State Street Corp now owns 23,589,550 shares of the oil and gas company’s stock valued at $3,043,996,000 after buying an additional 175,616 shares during the period. Geode Capital Management LLC raised its stake in Phillips 66 by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company’s stock valued at $1,338,596,000 after buying an additional 45,340 shares during the period. Norges Bank acquired a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $640,206,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Phillips 66 by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,944,561 shares of the oil and gas company’s stock valued at $509,006,000 after buying an additional 89,621 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

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.