Phillips 66 (NYSE:PSX) Given Average Rating of “Moderate Buy” by Analysts

Shares of Phillips 66 (NYSE:PSX) have received a consensus rating of “Moderate Buy” from the twenty-three research firms that are currently covering the firm, Marketbeat Ratings reports. Twelve investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $148.3529.

A number of research analysts recently issued reports on PSX shares. Cowen reaffirmed a “buy” rating on shares of Phillips 66 in a report on Thursday, October 30th. Evercore ISI raised their price objective on shares of Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. TD Cowen boosted their target price on shares of Phillips 66 from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Piper Sandler increased their target price on shares of Phillips 66 from $170.00 to $171.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. Finally, Wolfe Research raised their target price on shares of Phillips 66 from $158.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, December 5th.

Insider Buying and Selling

In other news, EVP Brian Mandell sold 26,200 shares of the business’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total transaction of $3,607,216.00. Following the sale, the executive vice president directly owned 56,838 shares of the company’s stock, valued at $7,825,455.84. The trade was a 31.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $140.00, for a total value of $615,020.00. Following the sale, the executive vice president directly owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. This represents a 11.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 86,093 shares of company stock worth $11,933,256 in the last three months. 0.22% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Evolution Wealth Management Inc. purchased a new position in Phillips 66 during the 2nd quarter valued at about $25,000. Wolff Wiese Magana LLC boosted its holdings in shares of Phillips 66 by 62.1% during the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 82 shares during the period. Winnow Wealth LLC acquired a new stake in shares of Phillips 66 during the third quarter worth approximately $36,000. Wealth Watch Advisors INC purchased a new position in Phillips 66 during the third quarter valued at approximately $36,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in Phillips 66 in the 2nd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

PSX opened at $128.41 on Thursday. The business has a 50 day moving average price of $135.76 and a two-hundred day moving average price of $130.33. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.23 and a quick ratio of 0.87. The company has a market capitalization of $51.74 billion, a price-to-earnings ratio of 35.08, a price-to-earnings-growth ratio of 0.68 and a beta of 0.92. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $144.96.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.38. The company had revenue of $33.69 billion for the quarter, compared to analysts’ expectations of $32.29 billion. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.During the same period last year, the firm earned $2.04 EPS. Research analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 3.7%. Phillips 66’s dividend payout ratio (DPR) is currently 131.15%.

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.