Analysts Set Phillips 66 (NYSE:PSX) Target Price at $171.78

Shares of Phillips 66 (NYSE:PSX) have received a consensus recommendation of “Moderate Buy” from the twenty-three analysts that are presently covering the firm, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $173.3889.

PSX has been the topic of a number of recent analyst reports. TD Cowen raised their price target on shares of Phillips 66 from $155.00 to $213.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. Barclays set a $158.00 price target on shares of Phillips 66 in a report on Friday, February 20th. Citigroup raised their price target on shares of Phillips 66 from $146.00 to $159.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. BMO Capital Markets reissued an “outperform” rating and issued a $170.00 price target on shares of Phillips 66 in a report on Friday, February 6th. Finally, Argus raised their price target on shares of Phillips 66 from $152.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $177.06 on Friday. The company’s fifty day moving average price is $163.83 and its 200-day moving average price is $145.43. The firm has a market capitalization of $70.96 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 0.31 and a beta of 0.76. Phillips 66 has a one year low of $91.01 and a one year high of $190.61. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.30 and a quick ratio of 0.91.

Phillips 66 (NYSE:PSX) last released its 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 company had revenue of $32.16 billion for the quarter, compared to analyst estimates of $33.81 billion. During the same quarter last year, the firm earned ($0.15) EPS. On average, equities research 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 announced a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were given a $1.27 dividend. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $5.08 annualized dividend and a dividend yield of 2.9%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s dividend payout ratio is 46.95%.

Insider Transactions at Phillips 66

In related news, EVP Brian Mandell sold 42,800 shares of Phillips 66 stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $169.53, for a total transaction of $7,255,884.00. Following the completion of the transaction, the executive vice president directly owned 61,595 shares of the company’s stock, valued at $10,442,200.35. This trade represents a 41.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lisa Ann Davis sold 3,800 shares of Phillips 66 stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $174.37, for a total transaction of $662,606.00. Following the transaction, the director directly owned 8,701 shares of the company’s stock, valued at approximately $1,517,193.37. This trade represents a 30.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 100,317 shares of company stock worth $17,036,749. 0.22% of the stock is owned by corporate insiders.

Institutional Trading of Phillips 66

A number of institutional investors and hedge funds have recently bought and sold shares of PSX. Vanguard Group Inc. increased 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 valued at $7,035,574,000 after purchasing an additional 5,356,558 shares in the last quarter. Norges Bank bought a new stake in Phillips 66 during the 4th quarter valued at about $640,206,000. Elliott Investment Management L.P. increased its stake in Phillips 66 by 22.4% during the 2nd 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 in the last quarter. M&T Bank Corp increased its stake in Phillips 66 by 462.9% during the 4th quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock valued at $352,007,000 after purchasing an additional 2,243,268 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Phillips 66 by 424.7% during the 3rd quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock valued at $257,512,000 after purchasing an additional 1,532,389 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

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.