Raymond James Financial Issues Positive Forecast for Phillips 66 (NYSE:PSX) Stock Price

Phillips 66 (NYSE:PSX) had its target price upped by Raymond James Financial from $175.00 to $205.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the oil and gas company’s stock.

Other equities analysts also recently issued research reports about the company. The Goldman Sachs Group lifted their price objective on Phillips 66 from $168.00 to $186.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Zacks Research cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. JPMorgan Chase & Co. cut their target price 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. Scotiabank reiterated a “sector perform” rating and set a $140.00 price target on shares of Phillips 66 in a report on Friday, January 16th. Finally, Wells Fargo & Company boosted their price target on shares of Phillips 66 from $162.00 to $163.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.00.

Phillips 66 Stock Down 1.6%

Shares of NYSE PSX opened at $181.25 on Wednesday. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $185.37. The stock has a market cap of $72.63 billion, a PE ratio of 16.75, a P/E/G ratio of 0.64 and a beta of 0.86. 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 company has a 50-day moving average of $157.36 and a 200 day moving average of $142.60.

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

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were issued a $1.27 dividend. The ex-dividend date was Monday, February 23rd. This represents a $5.08 annualized dividend and a dividend yield of 2.8%. This is an increase from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s dividend payout ratio (DPR) is currently 46.95%.

Insider Activity

In other Phillips 66 news, Director Lisa Ann Davis sold 3,800 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $174.37, for a total transaction of $662,606.00. Following the transaction, the director directly owned 8,701 shares in the company, valued at $1,517,193.37. This represents a 30.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin J. Mitchell sold 16,856 shares of Phillips 66 stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $168.22, for a total value of $2,835,516.32. Following the completion of the sale, the chief financial officer directly 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 SEC filing for this sale provides additional information. Insiders have sold a total of 84,688 shares of company stock worth $14,066,145 in the last three months. 0.22% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Phillips 66

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Evolution Wealth Management Inc. acquired a new position in shares of Phillips 66 in the second quarter valued at approximately $25,000. Board of the Pension Protection Fund purchased a new stake in Phillips 66 during the 4th quarter worth approximately $26,000. Accordant Advisory Group Inc lifted its holdings in 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 worth $26,000 after buying an additional 180 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in Phillips 66 in the 4th quarter valued at approximately $27,000. Finally, SWAN Capital LLC boosted its position in Phillips 66 by 1,055.6% in the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 190 shares during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Phillips 66

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

• Positive Sentiment: Raymond James raised its price target to $205 and reiterated an “outperform” rating, citing nearly doubled refining margins — a clear catalyst for upside expectations. Raymond James Sets $205 Target on PSX as Refining Margins Nearly Double
• Positive Sentiment: Analyst and media coverage (Zacks, MSN) is highlighting PSX as both a growth and value name, reinforcing buying interest from fundamental and quant-focused investors. Here’s Why Phillips 66 (PSX) is a Strong Growth Stock
• Positive Sentiment: Operational/strategic support: Phillips 66 and Kinder Morgan extended the open season for Western Gateway pipeline capacity, which should help feed refinery throughput and optionality over time. Phillips 66 and Kinder Morgan, Inc. Announce Extension of Second Open Season for Remaining Western Gateway Capacity
• Positive Sentiment: Regional refining disruptions (e.g., a Valero refinery fire) and rising fuel prices are tightening supply, which tends to lift refining margins and benefits integrated refiners like PSX. Rising Fuel Prices Are Lifting Valero Stock. Why a Refinery Fire Can’t Stop It.
• Positive Sentiment: Technical/market momentum: the stock recently hit a 52-week high and has strong YTD gains, which attracts momentum-driven flows. Phillips 66 (NYSE:PSX) Sets New 52-Week High – Still a Buy?
• Negative Sentiment: Underlying financials still show pockets of weakness: in its last quarter Phillips 66 missed revenue consensus (reported revenue below estimates), which could limit multiple expansion if margins or volumes soften. (company quarterly results)
• Negative Sentiment: Profit‑taking and short-term selling after the recent run to new highs appears to be driving today’s pullback despite the positive headlines — a common technical correction after rapid gains.

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.