Phillips 66 (NYSE:PSX) Sets New 1-Year High – What’s Next?

Shares of Phillips 66 (NYSE:PSX) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $201.66 and last traded at $201.4050, with a volume of 2852818 shares. The stock had previously closed at $198.29.

Trending Headlines about Phillips 66

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

• Positive Sentiment: Phillips 66’s refining network and access to low-cost crude are being highlighted as key advantages that could support long-term growth and stronger margins if fuel demand stays firm. Here’s Why Phillips 66’s Refining Strength Supports Long-Term Growth
• Positive Sentiment: Renewed Middle East tensions are tightening refined-product markets, which could lift crack spreads and improve profitability for refiners like Phillips 66. Renewed Middle East Tensions Threaten Supply: 3 Energy Stocks to Watch
• Positive Sentiment: Bloomberg reported that the recent surge in U.S. crude exports may last longer than expected, a favorable backdrop for the broader energy logistics and refining sector. Texas Port CEO Sees US Oil Exports Holding Above Prewar Levels
• Neutral Sentiment: Phillips 66 CFO Kevin Mitchell sold 11,021 shares under a pre-arranged Rule 10b5-1 trading plan, but he still retains a sizable personal stake, so the transaction appears more routine than alarming. Phillips 66’s CFO Cashed In Options but Kept an $18.3 Million Stake — Here’s What Investors Should Focus On Instead
• Neutral Sentiment: Analysts currently maintain a “Moderate Buy” consensus on PSX, with price targets that suggest expectations remain constructive but not euphoric. Phillips 66 (NYSE:PSX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Wall Street Analysts Forecast Growth

PSX has been the topic of several research analyst reports. Argus upped their price objective on Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Scotiabank boosted their target price on Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Zacks Research cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. The Goldman Sachs Group increased their price target on Phillips 66 from $192.00 to $207.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 19th. Finally, Piper Sandler lifted their price objective on Phillips 66 from $168.00 to $177.00 and gave the stock a “neutral” rating in a report on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $196.06.

Phillips 66 Stock Performance

The company has a market capitalization of $80.75 billion, a P/E ratio of 19.84, a P/E/G ratio of 0.27 and a beta of 0.69. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The company’s fifty day moving average is $177.18 and its 200 day moving average is $164.20.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. The business had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.90) EPS. As a group, equities analysts anticipate that Phillips 66 will post 19.08 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a $1.27 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.5%. Phillips 66’s payout ratio is 50.05%.

Insiders Place Their Bets

In related news, Director Kevin Omar Meyers acquired 175 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were acquired at an average price of $173.12 per share, with a total value of $30,296.00. Following the acquisition, the director owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kevin J. Mitchell sold 11,021 shares of the firm’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $190.03, for a total value of $2,094,320.63. Following the completion of the transaction, the chief financial officer owned 97,376 shares of the company’s stock, valued at approximately $18,504,361.28. This represents a 10.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 41,021 shares of company stock worth $7,195,257. 0.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Phillips 66

A number of large investors have recently modified their holdings of the company. Family Wealth Partners LLC grew its stake in Phillips 66 by 16.7% during the second quarter. Family Wealth Partners LLC now owns 1,284 shares of the oil and gas company’s stock valued at $217,000 after acquiring an additional 184 shares in the last quarter. Tema ETFs LLC lifted its stake in Phillips 66 by 10.5% in the 2nd quarter. Tema ETFs LLC now owns 7,651 shares of the oil and gas company’s stock worth $1,293,000 after purchasing an additional 725 shares in the last quarter. City Holding Co. lifted its stake in Phillips 66 by 2.8% in the 2nd quarter. City Holding Co. now owns 19,351 shares of the oil and gas company’s stock worth $3,271,000 after purchasing an additional 518 shares in the last quarter. Charles Schwab Trust Co boosted its holdings in Phillips 66 by 14.8% in the 2nd quarter. Charles Schwab Trust Co now owns 1,354 shares of the oil and gas company’s stock valued at $229,000 after purchasing an additional 175 shares during the period. Finally, Spinnaker Investment Group LLC bought a new position in Phillips 66 in the 2nd quarter valued at $344,000. 76.93% of the stock is currently owned by institutional investors.

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.