The Goldman Sachs Group Issues Positive Forecast for Phillips 66 (NYSE:PSX) Stock Price

Phillips 66 (NYSE:PSX) had its price objective boosted by The Goldman Sachs Group from $168.00 to $186.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the oil and gas company’s stock.

A number of other analysts have also weighed in on the stock. Morgan Stanley upped their target price on shares of Phillips 66 from $140.00 to $147.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. TD Cowen reiterated a “buy” rating on shares of Phillips 66 in a report on Friday, February 6th. Zacks Research downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Jefferies Financial Group restated a “hold” rating and issued a $158.00 price objective on shares of Phillips 66 in a report on Friday, February 20th. Finally, Piper Sandler lifted their price objective on shares of Phillips 66 from $153.00 to $156.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Eleven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $161.33.

Phillips 66 Trading Up 2.8%

PSX opened at $174.25 on Thursday. The business has a fifty day moving average price of $150.59 and a 200 day moving average price of $139.75. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.30 and a quick ratio of 0.91. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $178.38. The stock has a market capitalization of $69.83 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 0.59 and a beta of 0.86.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.32. The company had revenue of $32.16 billion for the quarter, compared to analyst estimates of $33.81 billion. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.During the same quarter last year, the company earned ($0.15) EPS. Sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared 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. The ex-dividend date was Monday, February 23rd. This represents a $5.08 dividend on an annualized basis and a yield of 2.9%. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s dividend payout ratio (DPR) is 46.95%.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 16,856 shares of Phillips 66 stock in a transaction that occurred on Thursday, March 5th. The stock was 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 of the company’s stock, valued at $16,380,590.72. The trade was a 14.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total value of $659,100.00. Following the completion of the sale, the executive vice president directly owned 25,799 shares of the company’s stock, valued at $3,869,850. The trade was a 14.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 38,088 shares of company stock valued at $6,147,655 over the last quarter. Company insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Brighton Jones LLC increased its position in Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after acquiring an additional 7,214 shares during the period. Woodline Partners LP lifted its position in Phillips 66 by 40.7% during the 1st quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock worth $4,308,000 after acquiring an additional 10,089 shares during the period. AE Wealth Management LLC lifted its position in Phillips 66 by 25.0% during the 2nd quarter. AE Wealth Management LLC now owns 10,633 shares of the oil and gas company’s stock worth $1,268,000 after acquiring an additional 2,130 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Phillips 66 by 20.5% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,497 shares of the oil and gas company’s stock valued at $656,000 after purchasing an additional 937 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of Phillips 66 by 7.2% in the 2nd quarter. ProShare Advisors LLC now owns 89,066 shares of the oil and gas company’s stock valued at $10,626,000 after purchasing an additional 5,988 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 News Roundup

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

• Positive Sentiment: Goldman Sachs raised its price target on PSX from $168 to $186, increasing the implied upside despite keeping a “neutral” rating — this lifts analyst valuation support for the stock. Goldman Sachs raises price target (Benzinga)
• Positive Sentiment: Refiners are catching a bid as oil-market volatility and Middle East supply concerns increase the potential for stronger downstream margins; Phillips 66’s recent investor materials highlighting higher refinery utilization and record clean product yields reinforce the earnings/cash-generation narrative. Refiners catch a bid (Quiver Quantitative)
• Positive Sentiment: Institutional flows into U.S. refiners and strong year-to-date performance across the group support multiple buyers rotating into PSX as part of a sector trade. Refiners are quiet winners (24/7 Wall St.)
• Neutral Sentiment: Phillips 66 will present in a fireside chat at the Piper Sandler Energy Conference on March 17 — a chance to reinforce the operational/cash-generation story to investors but not a direct financial event. Piper Sandler conference appearance (Business Wire)
• Neutral Sentiment: Board refresh and director changes following engagement with Elliott Investment Management signal potential shifts in capital-allocation and oversight priorities—could be positive for returns but introduces governance transition risk until outcomes are clear. Board refresh and activist engagement (Yahoo Finance)
• Negative Sentiment: Exxon hired Phillips 66’s head of North America power and gas trading, representing a loss of experienced trading talent that could pressure short-term trading continuity. Executive departure to Exxon (Reuters)
• Negative Sentiment: Recent reports flag significant insider selling and large institutional portfolio moves (both buys and big reductions) which can signal near-term distribution of shares and add volatility. Insider & institutional activity (Quiver Quantitative)

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.