Phillips 66 (NYSE:PSX) Reaches New 1-Year High – Should You Buy?

Phillips 66 (NYSE:PSX) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $179.02 and last traded at $177.3260, with a volume of 1249159 shares changing hands. The stock had previously closed at $172.74.

Analysts Set New Price Targets

PSX has been the topic of a number of analyst reports. Morgan Stanley lifted their target price on shares of Phillips 66 from $140.00 to $147.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Argus increased their price target on shares of Phillips 66 from $152.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Wells Fargo & Company raised their price target on shares of Phillips 66 from $162.00 to $163.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Barclays set a $158.00 price target on shares of Phillips 66 in a research report on Friday, February 20th. Finally, Zacks Research lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $162.33.

Phillips 66 Price Performance

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 stock has a 50 day moving average price of $153.53 and a two-hundred day moving average price of $140.96. The firm has a market capitalization of $71.21 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 0.60 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, topping the consensus estimate of $2.15 by $0.32. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.The firm had revenue of $32.16 billion for the quarter, compared to analyst estimates of $33.81 billion. During the same quarter in the prior year, the company earned ($0.15) EPS. As a group, analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

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

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 16,856 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at $16,380,590.72. This represents a 14.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 25,799 shares of the company’s stock, valued at $3,869,850. This represents a 14.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 84,688 shares of company stock valued at $14,066,145. 0.22% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Phillips 66

Hedge funds have recently bought and sold shares of the stock. Clifford Group LLC lifted its position in Phillips 66 by 2.0% during the fourth quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock worth $428,000 after buying an additional 64 shares in the last quarter. CYBER HORNET ETFs LLC grew its holdings in Phillips 66 by 5.7% in the 4th quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company’s stock valued at $158,000 after buying an additional 66 shares in the last quarter. L2 Asset Management LLC increased its stake in shares of Phillips 66 by 4.0% in the 3rd quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock worth $257,000 after acquiring an additional 72 shares during the last quarter. GHP Investment Advisors Inc. increased its stake in shares of Phillips 66 by 2.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock worth $414,000 after acquiring an additional 72 shares during the last quarter. Finally, Johnson Financial Group Inc. raised its holdings in shares of Phillips 66 by 11.9% during the 4th quarter. Johnson Financial Group Inc. now owns 679 shares of the oil and gas company’s stock worth $88,000 after acquiring an additional 72 shares during the period. 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.