Phillips 66 (NYSE:PSX) Given Consensus Recommendation of “Hold” by Analysts

Phillips 66 (NYSE:PSX) has been assigned a consensus rating of “Hold” from the twenty-three brokerages that are presently covering the firm, Marketbeat Ratings reports. Thirteen equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $157.1765.

PSX has been the subject of a number of recent analyst reports. Barclays upped their price target on shares of Phillips 66 from $141.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Monday, January 12th. The Goldman Sachs Group upped their target price on shares of Phillips 66 from $152.00 to $164.00 and gave the stock a “neutral” rating in a report on Thursday, January 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Phillips 66 in a research note on Thursday, January 22nd. Mizuho raised their price target on Phillips 66 from $150.00 to $152.00 and gave the company a “neutral” rating in a report on Monday, January 12th. Finally, JPMorgan Chase & Co. dropped their price objective on Phillips 66 from $154.00 to $151.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th.

Insider Buying and Selling

In other news, EVP Brian Mandell sold 25,500 shares of Phillips 66 stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $140.04, for a total transaction of $3,571,020.00. Following the sale, the executive vice president owned 56,838 shares in the company, valued at $7,959,593.52. This trade represents a 30.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total transaction of $659,100.00. Following the transaction, the executive vice president owned 25,799 shares of the company’s stock, valued at approximately $3,869,850. This represents a 14.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 60,488 shares of company stock valued at $8,474,466. Insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

Several large investors have recently made changes to their positions in PSX. Evolution Wealth Management Inc. purchased a new position in Phillips 66 during the 2nd quarter valued at approximately $25,000. Board of the Pension Protection Fund bought a new position in shares of Phillips 66 during the 4th quarter valued at approximately $26,000. Accordant Advisory Group Inc boosted its position in shares of Phillips 66 by 900.0% during the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 180 shares during the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Phillips 66 in the fourth quarter valued at $27,000. Finally, SWAN Capital LLC increased its position in Phillips 66 by 1,055.6% in the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 190 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Phillips 66 Price Performance

NYSE PSX opened at $156.20 on Friday. The business’s fifty day moving average is $139.99 and its 200 day moving average is $134.58. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $163.79. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.23. The company has a market capitalization of $62.94 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 0.57 and a beta of 0.90.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data 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. The firm had revenue of $32.16 billion for the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a return on equity of 9.28% and a net margin of 3.22%.During the same quarter last year, the company earned ($0.15) earnings per share. Sell-side analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Monday, February 23rd will be issued a $1.27 dividend. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $5.08 dividend on an annualized basis and a yield of 3.3%. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s payout ratio is presently 44.36%.

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.