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

Phillips 66 (NYSE:PSX) has received an average rating of “Moderate Buy” from the twenty-two ratings firms that are currently covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $192.3333.

A number of equities analysts have issued reports on PSX shares. Argus lifted their target price on shares of Phillips 66 from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Citigroup boosted their price objective on shares of Phillips 66 from $159.00 to $183.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Tudor Pickering raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Morgan Stanley boosted their price objective 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. Finally, Weiss Ratings lowered shares of Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, May 1st.

Insider Buying and Selling

In other news, Director Kevin Omar Meyers acquired 175 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was acquired at an average price of $173.12 per share, with a total value of $30,296.00. Following the completion of 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 position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevin J. Mitchell sold 29,400 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $170.00, for a total transaction 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 represents a 23.19% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 45,629 shares of company stock valued at $8,071,540. Company insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Phillips 66

A number of institutional investors have recently modified their holdings of PSX. First National Bank of Omaha purchased a new stake in Phillips 66 in the third quarter valued at approximately $2,357,000. TD Asset Management Inc grew its holdings in Phillips 66 by 15.5% in the third quarter. TD Asset Management Inc now owns 174,413 shares of the oil and gas company’s stock valued at $23,724,000 after purchasing an additional 23,364 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Phillips 66 by 5.1% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 818,025 shares of the oil and gas company’s stock valued at $111,268,000 after purchasing an additional 39,592 shares during the period. Fiera Capital Corp purchased a new stake in Phillips 66 in the third quarter valued at approximately $5,665,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in Phillips 66 by 17.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,371,804 shares of the oil and gas company’s stock valued at $177,018,000 after purchasing an additional 199,646 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX opened at $167.08 on Thursday. 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 stock has a market cap of $66.99 billion, a P/E ratio of 16.46, a PEG ratio of 0.25 and a beta of 0.68. The company has a 50-day moving average of $172.14 and a two-hundred day moving average of $158.68. Phillips 66 has a 12-month low of $118.00 and a 12-month high of $190.61.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. The company had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.90) earnings per share. As a group, research analysts predict that Phillips 66 will post 18.12 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, May 18th. Phillips 66’s payout ratio 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.