Phillips 66 (NYSE:PSX) Receives Average Rating of “Hold” from Analysts

Phillips 66 (NYSE:PSX) has been assigned a consensus rating of “Hold” from the twenty-three brokerages that are currently covering the stock, MarketBeat reports. Twelve research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $160.1111.

A number of equities analysts have recently commented on the company. Weiss Ratings upgraded Phillips 66 from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $170.00 target price on shares of Phillips 66 in a report on Friday, February 6th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $158.00 price target on shares of Phillips 66 in a research report on Friday, February 20th. Piper Sandler upped their price target on Phillips 66 from $153.00 to $156.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Finally, Argus increased their price objective on Phillips 66 from $152.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th.

Phillips 66 Stock Performance

NYSE:PSX opened at $162.71 on Tuesday. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $169.62. The firm’s fifty day simple moving average is $148.22 and its 200 day simple moving average is $139.07. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $65.20 billion, a PE ratio of 15.04, a PEG ratio of 0.58 and a beta of 0.86.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.15 by $0.32. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. The firm had revenue of $32.16 billion for the quarter, compared to the consensus estimate of $33.81 billion. During the same quarter last year, the firm posted ($0.15) EPS. On average, sell-side analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 3.1%. The ex-dividend date was Monday, February 23rd. This is an increase from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s dividend payout ratio is currently 46.95%.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 16,856 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $168.22, for a total transaction of $2,835,516.32. Following the transaction, the chief financial officer owned 97,376 shares in the company, valued at approximately $16,380,590.72. The trade was a 14.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Don Baldridge sold 7,500 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the transaction, the executive vice president directly owned 38,488 shares of the company’s stock, valued at $6,158,080. This represents a 16.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 38,088 shares of company stock valued at $6,147,655 in the last ninety days. Company insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Phillips 66

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Phillips 66 by 0.4% during the 4th 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 in the last quarter. State Street Corp raised its stake in shares of 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 purchasing an additional 175,616 shares in the last quarter. Elliott Investment Management L.P. raised its stake in shares of Phillips 66 by 22.4% in the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock valued at $2,296,644,000 after purchasing an additional 3,526,000 shares in the last quarter. Geode Capital Management LLC lifted its position 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 worth $1,338,596,000 after purchasing an additional 45,340 shares during the period. Finally, Norges Bank bought a new position in Phillips 66 in the fourth quarter worth $640,206,000. 76.93% of the stock is currently 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.