Phillips 66 (NYSE:PSX) Receives Average Recommendation of “Moderate Buy” from Analysts

Phillips 66 (NYSE:PSX) has earned an average rating of “Moderate Buy” from the twenty-three brokerages that are presently covering the stock, MarketBeat.com reports. Twelve equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $147.8235.

Several research firms recently issued reports on PSX. Wells Fargo & Company boosted their price objective on Phillips 66 from $154.00 to $162.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Morgan Stanley increased their price target on shares of Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday, October 3rd. Evercore ISI lifted their price objective on shares of Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, September 19th. BMO Capital Markets upped their target price on shares of Phillips 66 from $152.00 to $160.00 in a research note on Tuesday, November 11th. Finally, UBS Group reissued a “buy” rating and issued a $160.00 price target on shares of Phillips 66 in a research report on Monday, November 10th.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $138.00, for a total value of $4,140,000.00. Following the transaction, the chief financial officer owned 89,771 shares in the company, valued at approximately $12,388,398. This represents a 25.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Brian Mandell sold 26,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total value of $3,607,216.00. Following the sale, the executive vice president owned 56,838 shares of the company’s stock, valued at approximately $7,825,455.84. The trade was a 31.55% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 81,700 shares of company stock valued at $11,318,236. Insiders own 0.22% of the company’s stock.

Institutional Trading of Phillips 66

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PSX. Vanguard Group Inc. raised its stake in Phillips 66 by 11.6% during the 3rd quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company’s stock worth $7,035,574,000 after acquiring an additional 5,356,558 shares in the last quarter. Elliott Investment Management L.P. grew its holdings in shares of Phillips 66 by 22.4% during the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock worth $2,296,644,000 after purchasing an additional 3,526,000 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Phillips 66 by 17.4% during the second quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock worth $1,226,815,000 after purchasing an additional 1,532,967 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Phillips 66 by 6.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,394,750 shares of the oil and gas company’s stock valued at $1,120,794,000 after purchasing an additional 537,245 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Phillips 66 in the 2nd quarter valued at about $523,755,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

Phillips 66 stock opened at $128.56 on Thursday. The company’s 50 day simple moving average is $135.70 and its 200-day simple moving average is $130.60. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.23. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $144.96. The company has a market capitalization of $51.80 billion, a price-to-earnings ratio of 35.12, a price-to-earnings-growth ratio of 0.67 and a beta of 0.92.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.53%. The firm had revenue of $33.69 billion during the quarter, compared to the consensus estimate of $32.29 billion. During the same quarter last year, the firm earned $2.04 EPS. As a group, equities research analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is presently 131.15%.

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.