Phillips 66 (NYSE:PSX) Receives $206.56 Average PT from Analysts

Shares of Phillips 66 (NYSE:PSX) have been given an average recommendation of “Moderate Buy” by the twenty-one ratings firms that are presently covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $218.9412.

PSX has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Phillips 66 from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. Raymond James Financial increased their target price on shares of Phillips 66 from $218.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Morgan Stanley raised their target price on shares of Phillips 66 from $180.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Wells Fargo & Company lifted their price target on shares of Phillips 66 from $239.00 to $335.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Guggenheim raised shares of Phillips 66 to an “outperform” rating in a research report on Wednesday, May 27th.

Insider Buying and Selling

In related news, EVP Richard Harbison sold 52,100 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $223.76, for a total transaction of $11,657,896.00. Following the sale, the executive vice president owned 39,094 shares in the company, valued at approximately $8,747,673.44. This represents a 57.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Mitchell sold 11,021 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $190.03, for a total value of $2,094,320.63. Following the transaction, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at $18,504,361.28. This trade represents a 10.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 100,507 shares of company stock worth $21,770,810. Insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Phillips 66

Several hedge funds and other institutional investors have recently made changes to their positions in the company. NFSG Corp lifted its stake in Phillips 66 by 105.6% in the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 75 shares during the last quarter. Axiom Investment Management LLC acquired a new position in shares of Phillips 66 during the 1st quarter worth about $27,000. SWAN Capital LLC raised its holdings in shares of Phillips 66 by 1,055.6% in the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 190 shares during the period. Compass Financial Management LLC bought a new stake in shares of Phillips 66 in the 2nd quarter valued at about $28,000. Finally, Kelleher Financial Advisors acquired a new stake in Phillips 66 in the 2nd quarter valued at about $29,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Down 0.6%

NYSE:PSX opened at $254.61 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.32. The company has a market cap of $101.59 billion, a PE ratio of 14.51, a PEG ratio of 0.19 and a beta of 0.71. Phillips 66 has a 52-week low of $126.74 and a 52-week high of $260.68. The stock has a 50-day simple moving average of $212.72 and a 200 day simple moving average of $185.40.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.50 by $1.91. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.The business had revenue of $52.04 billion for the quarter, compared to analyst estimates of $43.60 billion. During the same quarter last year, the firm earned $2.38 EPS. On average, sell-side analysts expect that Phillips 66 will post 23.86 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were issued a $1.27 dividend. The ex-dividend date was Tuesday, August 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.0%. Phillips 66’s dividend payout ratio (DPR) is presently 28.95%.

Phillips 66 announced that its board has initiated a share repurchase plan on Friday, July 31st that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to buy up to 11.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

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.