Phillips 66 (NYSE:PSX) Price Target Raised to $183.00

Phillips 66 (NYSE:PSX) had its price objective hoisted by Citigroup from $159.00 to $183.00 in a report published on Thursday morning, Marketbeat reports. They currently have a neutral rating on the oil and gas company’s stock.

Several other research analysts have also commented on the stock. Scotiabank upgraded shares of Phillips 66 to a “hold” rating in a research note on Friday, March 27th. TD Cowen boosted their price objective on shares of Phillips 66 from $155.00 to $213.00 and gave the stock a “buy” rating in a research note on Wednesday, April 1st. The Goldman Sachs Group boosted their price objective on shares of Phillips 66 from $168.00 to $186.00 and gave the stock a “neutral” rating in a research note on Thursday, March 12th. JPMorgan Chase & Co. boosted their price objective on shares of Phillips 66 from $161.00 to $188.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, UBS Group boosted their price objective on shares of Phillips 66 from $172.00 to $212.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $180.72.

Phillips 66 Trading Down 1.0%

NYSE:PSX opened at $159.44 on Thursday. Phillips 66 has a one year low of $93.50 and a one year high of $190.61. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.91 and a current ratio of 1.30. The firm has a market cap of $63.90 billion, a P/E ratio of 14.74, a P/E/G ratio of 0.28 and a beta of 0.76. The firm has a 50-day simple moving average of $165.68 and a 200-day simple moving average of $146.31.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, beating 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 business had revenue of $32.16 billion during the quarter, compared to analyst estimates of $33.81 billion. During the same quarter in the previous year, the business posted ($0.15) EPS. Equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Monday, February 23rd. This is a positive change from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s dividend payout ratio (DPR) is currently 46.95%.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 16,856 shares of the company’s stock in a transaction that occurred on 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. This represents a 14.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lisa Ann Davis sold 3,800 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $174.37, for a total transaction of $662,606.00. Following the transaction, the director owned 8,701 shares in the company, valued at $1,517,193.37. The trade was a 30.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 95,923 shares of company stock worth $16,399,619 in the last three months. 0.22% of the stock is owned by company insiders.

Institutional Trading of Phillips 66

Several large investors have recently made changes to their positions in the business. Clifford Group LLC boosted its holdings in shares of Phillips 66 by 2.0% in the 4th quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock valued at $428,000 after acquiring an additional 64 shares during the last quarter. CYBER HORNET ETFs LLC boosted its holdings in shares of Phillips 66 by 5.7% in the 4th quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company’s stock valued at $158,000 after acquiring an additional 66 shares during the last quarter. GHP Investment Advisors Inc. boosted its holdings in shares of Phillips 66 by 2.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock valued at $414,000 after acquiring an additional 72 shares during the last quarter. Johnson Financial Group Inc. boosted its holdings in shares of Phillips 66 by 11.9% in the 4th quarter. Johnson Financial Group Inc. now owns 679 shares of the oil and gas company’s stock valued at $88,000 after acquiring an additional 72 shares during the last quarter. Finally, L2 Asset Management LLC boosted its holdings in shares of Phillips 66 by 4.0% in the 3rd quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock valued at $257,000 after acquiring an additional 72 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Phillips 66

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

• Positive Sentiment: Multiple bullish analyst actions: Wolfe Research and UBS published buy calls, reinforcing a positive long-term view on execution and cash return potential. Phillips 66 (PSX) Gets a Buy from Wolfe Research UBS Sticks to Their Buy Rating for Phillips 66 (PSX)
• Positive Sentiment: Valuation lifts from independent research: a recent fair-value update raised PSX’s assessed value (from US$165.45 to ~US$179.10), reflecting higher pricing assumptions across the Street. This supports a higher base for targets. How The Evolving Investment Story Is Shaping Phillips 66 (PSX) Valuation Targets
• Positive Sentiment: Broker price-target increases continue: independent outlets and aggregators show new targets in the high $170s–$195 range, supporting upside versus recent levels. Example: a $195 target was published and several banks raised targets this week. Phillips 66 (NYSE:PSX) Price Target Raised to $195.00
• Neutral Sentiment: Goldman Sachs raised its price target to $192 but kept a neutral rating — that implies upside in target but not an upgrade in conviction. Goldman Sachs adjusts price target on Phillips 66 to $192
• Neutral Sentiment: Context on refining economics: industry coverage notes that refiners are still seeing elevated “war-era” crack spreads (strong near-term margins), which supports earnings but leaves PSX exposed to swings in crude and product prices. Crude Fell, The Crack Spread Didn’t: 6 Refiner Stocks To Watch This Earnings Season
• Negative Sentiment: Company-disclosed derivatives hit: Phillips 66 flagged roughly a $900 million derivatives loss tied to net-short commodity positions as oil and diesel surged amid geopolitical-driven crude volatility — a direct, near-term earnings/cash-impact item and clear reason for investor caution. Phillips 66 Flags $900 Million Derivatives Loss As Oil Surges 68%
• Negative Sentiment: Ongoing commodity exposure and crude trade-flow risk: analysts raising targets continue to warn that PSX’s earnings remain sensitive to crude/diesel swings and refining cracks; the recent geopolitical shock is reinforcing that risk premium and likely pressured the stock. Phillips 66: Strong Execution, But The Stock Got There First

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.