Phillips 66 (NYSE:PSX) Sets New 1-Year High – What’s Next?

Phillips 66 (NYSE:PSX)’s share price reached a new 52-week high on Wednesday . The company traded as high as $201.66 and last traded at $201.4050, with a volume of 2852818 shares changing hands. The stock had previously closed at $198.29.

Phillips 66 News Summary

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

• Positive Sentiment: Phillips 66’s refining network and access to low-cost crude are being highlighted as key advantages that could support long-term growth and stronger margins if fuel demand stays firm. Here’s Why Phillips 66’s Refining Strength Supports Long-Term Growth
• Positive Sentiment: Renewed Middle East tensions are tightening refined-product markets, which could lift crack spreads and improve profitability for refiners like Phillips 66. Renewed Middle East Tensions Threaten Supply: 3 Energy Stocks to Watch
• Positive Sentiment: Bloomberg reported that the recent surge in U.S. crude exports may last longer than expected, a favorable backdrop for the broader energy logistics and refining sector. Texas Port CEO Sees US Oil Exports Holding Above Prewar Levels
• Neutral Sentiment: Phillips 66 CFO Kevin Mitchell sold 11,021 shares under a pre-arranged Rule 10b5-1 trading plan, but he still retains a sizable personal stake, so the transaction appears more routine than alarming. Phillips 66’s CFO Cashed In Options but Kept an $18.3 Million Stake — Here’s What Investors Should Focus On Instead
• Neutral Sentiment: Analysts currently maintain a “Moderate Buy” consensus on PSX, with price targets that suggest expectations remain constructive but not euphoric. Phillips 66 (NYSE:PSX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wall Street Zen raised shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Morgan Stanley raised their price target on shares of Phillips 66 from $180.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. UBS Group reissued a “buy” rating and set a $212.00 price objective on shares of Phillips 66 in a report on Monday, June 15th. TD Cowen increased their price objective on Phillips 66 from $213.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Finally, JPMorgan Chase & Co. raised their target price on Phillips 66 from $188.00 to $202.00 in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $196.06.

Phillips 66 Stock Performance

The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The company’s fifty day moving average price is $177.18 and its 200 day moving average price is $164.20. The company has a market cap of $80.75 billion, a PE ratio of 19.84, a P/E/G ratio of 0.27 and a beta of 0.69.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping 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 business had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $35.86 billion. During the same period in the previous year, the company earned ($0.90) earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities research analysts predict that Phillips 66 will post 19.08 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a dividend of $1.27 per share. 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 dividend payout ratio (DPR) is currently 50.05%.

Insider Activity at Phillips 66

In other Phillips 66 news, Director Kevin Omar Meyers bought 175 shares of Phillips 66 stock in a transaction dated Wednesday, May 6th. The stock was bought at an average cost of $173.12 per share, with a total value of $30,296.00. Following the completion of the acquisition, the director directly owned 16,799 shares in the company, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kevin J. Mitchell sold 29,400 shares of Phillips 66 stock in a transaction on Friday, May 8th. The stock was sold at an average price of $170.00, for a total value of $4,998,000.00. Following the sale, the chief financial officer owned 97,376 shares in the company, valued at $16,553,920. This trade represents a 23.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 41,021 shares of company stock valued at $7,195,257. 0.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Phillips 66

Several large investors have recently made changes to their positions in the business. Board of the Pension Protection Fund purchased a new position in shares of Phillips 66 in the 4th quarter worth about $26,000. Accordant Advisory Group Inc grew its position in Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 180 shares during the period. Eagle Bay Advisors LLC purchased a new stake in Phillips 66 during the fourth quarter worth about $27,000. NFSG Corp increased its holdings in Phillips 66 by 105.6% during the first 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 last quarter. Finally, Axiom Investment Management LLC bought a new stake in Phillips 66 in the first quarter worth about $27,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

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.