Phillips 66 (NYSE:PSX) Receives “Neutral” Rating from Piper Sandler

Piper Sandler reiterated their neutral rating on shares of Phillips 66 (NYSE:PSX) in a research note published on Thursday morning, MarketBeat Ratings reports. The brokerage currently has a $208.00 price target on the oil and gas company’s stock.

PSX has been the topic of several other research reports. Guggenheim upgraded shares of Phillips 66 to an “outperform” rating in a report on Wednesday, May 27th. TD Cowen upped their price target on Phillips 66 from $220.00 to $240.00 and gave the stock a “buy” rating in a research note on Tuesday. Mizuho raised Phillips 66 from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $170.00 to $212.00 in a research note on Wednesday, May 27th. Wolfe Research boosted their price objective on Phillips 66 from $187.00 to $193.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Finally, Citigroup increased their target price on Phillips 66 from $183.00 to $204.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $200.44.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $206.36 on Thursday. The firm has a fifty day simple moving average of $181.93 and a 200 day simple moving average of $168.00. Phillips 66 has a twelve month low of $118.07 and a twelve month high of $216.08. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $82.74 billion, a PE ratio of 20.33, a P/E/G ratio of 0.28 and a beta of 0.69.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating the consensus estimate of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. During the same quarter in the prior year, the company earned ($0.90) EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, sell-side analysts forecast that Phillips 66 will post 19.84 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a dividend of $1.27 per share. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 annualized dividend and a yield of 2.5%. Phillips 66’s dividend payout ratio (DPR) is 50.05%.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 11,021 shares of the stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $190.03, for a total value of $2,094,320.63. Following the completion of the sale, the chief financial officer owned 97,376 shares in the company, valued at $18,504,361.28. This represents a 10.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Omar Meyers purchased 175 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were purchased at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the transaction, the director directly owned 16,799 shares of the company’s stock, valued at $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders sold 41,021 shares of company stock valued at $7,195,257. Company insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Key Client Fiduciary Advisors LLC lifted its holdings in Phillips 66 by 3.5% in the second quarter. Key Client Fiduciary Advisors LLC now owns 1,624 shares of the oil and gas company’s stock valued at $275,000 after acquiring an additional 55 shares during the period. Threadgill Financial LLC grew its stake in shares of Phillips 66 by 3.5% during the 2nd quarter. Threadgill Financial LLC now owns 1,693 shares of the oil and gas company’s stock valued at $286,000 after purchasing an additional 58 shares during the period. Somerset Trust Co grew its stake in shares of Phillips 66 by 0.3% during the 2nd quarter. Somerset Trust Co now owns 21,301 shares of the oil and gas company’s stock valued at $3,601,000 after purchasing an additional 63 shares during the period. Clifford Group LLC increased its position in shares of Phillips 66 by 2.0% during the 4th quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock valued at $428,000 after purchasing an additional 64 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Phillips 66 by 0.8% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 8,255 shares of the oil and gas company’s stock valued at $1,504,000 after purchasing an additional 65 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

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.