Analysts Set Phillips 66 (NYSE:PSX) PT at $160.11

Phillips 66 (NYSE:PSX) has been given a consensus rating of “Hold” by the twenty-three research firms that are covering the company, MarketBeat Ratings reports. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $161.3333.

A number of research analysts have recently issued reports on the stock. Weiss Ratings raised shares of Phillips 66 from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Piper Sandler raised their target price on shares of Phillips 66 from $153.00 to $156.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $170.00 price target on shares of Phillips 66 in a report on Friday, February 6th. Wells Fargo & Company upped their price target on Phillips 66 from $162.00 to $163.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Finally, Jefferies Financial Group upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Monday.

Insider Buying and Selling

In other news, EVP Brian Mandell sold 42,800 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $169.53, for a total transaction of $7,255,884.00. Following the sale, the executive vice president owned 61,595 shares in the company, valued at approximately $10,442,200.35. The trade was a 41.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin J. Mitchell sold 16,856 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $168.22, for a total transaction of $2,835,516.32. Following the transaction, the chief financial officer owned 97,376 shares in the company, valued at approximately $16,380,590.72. This trade represents a 14.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 84,688 shares of company stock valued at $14,066,145 in the last 90 days. 0.22% of the stock is owned by insiders.

Institutional Trading of Phillips 66

Large investors have recently bought and sold shares of the stock. Elliott Investment Management L.P. increased its holdings in shares of Phillips 66 by 22.4% in the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock valued at $2,296,644,000 after purchasing an additional 3,526,000 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in shares of Phillips 66 by 57.4% during the third quarter. Oppenheimer & Co. Inc. now owns 56,858 shares of the oil and gas company’s stock worth $7,734,000 after purchasing an additional 20,742 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in Phillips 66 by 5.0% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 209,700 shares of the oil and gas company’s stock valued at $28,523,000 after buying an additional 10,000 shares during the last quarter. First National Bank of Omaha purchased a new stake in Phillips 66 in the third quarter valued at approximately $2,357,000. Finally, Vanguard Group Inc. increased its holdings in Phillips 66 by 14.8% in the 2nd quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock worth $5,531,702,000 after buying an additional 5,978,841 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

PSX opened at $173.56 on Tuesday. The business’s 50-day moving average is $152.11 and its two-hundred day moving average is $140.46. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $178.38. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.30 and a quick ratio of 0.91. The firm has a market capitalization of $69.55 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 0.60 and a beta of 0.86.

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

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were given a dividend of $1.27 per share. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $5.08 annualized dividend and a yield of 2.9%. This is an increase from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s dividend payout ratio is currently 46.95%.

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.