Phillips 66 (NYSE:PSX) Reaches New 12-Month High – Should You Buy?

Phillips 66 (NYSE:PSX)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $164.28 and last traded at $163.83, with a volume of 1115373 shares. The stock had previously closed at $159.78.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PSX shares. JPMorgan Chase & Co. reduced their target price on shares of Phillips 66 from $154.00 to $151.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. UBS Group reiterated a “buy” rating and issued a $172.00 price target on shares of Phillips 66 in a research report on Friday, February 6th. Wells Fargo & Company increased their price objective on Phillips 66 from $162.00 to $163.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Mizuho raised their target price on shares of Phillips 66 from $150.00 to $152.00 and gave the stock a “neutral” rating in a report on Monday, January 12th. Finally, The Goldman Sachs Group lifted their price target on Phillips 66 from $152.00 to $164.00 and gave the company a “neutral” rating in a report on Thursday, January 22nd. Eleven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, Phillips 66 has an average rating of “Hold” and a consensus target price of $160.11.

Phillips 66 Stock Performance

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 stock has a fifty day moving average price of $145.28 and a 200-day moving average price of $137.89. The firm has a market capitalization of $65.87 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 0.56 and a beta of 0.86.

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

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd will be paid a $1.27 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.1%. Phillips 66’s dividend payout ratio (DPR) is currently 46.95%.

Insider Activity at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 4,394 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total transaction of $659,100.00. Following the completion of the sale, the executive vice president owned 25,799 shares of the company’s stock, valued at $3,869,850. This represents a 14.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Don Baldridge sold 7,500 shares of Phillips 66 stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total value of $1,200,000.00. Following the completion of the sale, the executive vice president directly owned 38,488 shares in the company, valued at approximately $6,158,080. This represents a 16.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,288 shares of company stock valued at $2,496,230 in the last ninety days. Insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Phillips 66

A number of institutional investors have recently bought and sold shares of the business. Board of the Pension Protection Fund bought a new stake in Phillips 66 in the 4th quarter valued at $26,000. Accordant Advisory Group Inc boosted its position in shares of Phillips 66 by 900.0% in the fourth 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 period. SWAN Capital LLC boosted its position in shares of 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 valued at $27,000 after acquiring an additional 190 shares during the period. Evolution Wealth Management Inc. acquired a new position in shares of Phillips 66 in the second quarter valued at about $25,000. Finally, Eagle Bay Advisors LLC acquired a new stake in Phillips 66 in the 4th quarter worth about $27,000. Institutional investors and hedge funds 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.