Phillips 66 (NYSE:PSX) Sets New 1-Year High on Analyst Upgrade

Phillips 66 (NYSE:PSX) shares reached a new 52-week high during mid-day trading on Wednesday after Raymond James Financial raised their price target on the stock from $175.00 to $205.00. Raymond James Financial currently has an outperform rating on the stock. Phillips 66 traded as high as $185.37 and last traded at $184.1970, with a volume of 4227756 shares. The stock had previously closed at $176.76.

Other equities analysts have also issued research reports about the stock. Jefferies Financial Group upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Monday, March 16th. JPMorgan Chase & Co. dropped their price objective on Phillips 66 from $154.00 to $151.00 and set an “overweight” rating for the company in a report on Tuesday, January 13th. Wall Street Zen raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 14th. The Goldman Sachs Group lifted their target price on Phillips 66 from $168.00 to $186.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Finally, UBS Group reissued a “buy” rating and set a $172.00 price target on shares of Phillips 66 in a research report on Friday, February 6th. One research 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $164.00.

Insider Buying and Selling

In related news, EVP Brian Mandell sold 42,800 shares of the company’s stock in a transaction on 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 sale, the executive vice president directly owned 61,595 shares of the company’s stock, valued at approximately $10,442,200.35. This represents a 41.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin Omar Meyers purchased 175 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was bought at an average price of $173.20 per share, with a total value of $30,310.00. Following the completion of the acquisition, the director owned 16,624 shares in the company, valued at $2,879,276.80. This represents a 1.06% increase in their position. The SEC filing for this purchase provides additional information. Over 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.

More Phillips 66 News

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

• Positive Sentiment: Raymond James raised its price target to $205 and kept an outperform rating, citing nearly doubled refining margins that materially improve PSX’s earnings outlook; that upgrade is a direct catalyst for investor buying. Raymond James Sets $205 Target on PSX
• Positive Sentiment: Phillips 66 and Kinder Morgan extended the second open season for the Western Gateway pipeline, which helps secure long-term transport commitments into the Los Angeles market and reduces logistics risk for refined-product flows. Business Wire: Open Season Extension
• Positive Sentiment: Zacks flagged PSX as a strong momentum stock, reflecting positive style-score signals that can attract quant and momentum buyers and reinforce the recent run. Zacks: Strong Momentum Stock
• Positive Sentiment: Zacks also highlights PSX as a strong growth stock based on its style scores, reinforcing the buy-side narrative that the company is delivering improving fundamentals. Zacks: Strong Growth Stock
• Positive Sentiment: Coverage noting PSX set a new 52‑week high is reinforcing momentum traders and headline-driven flows into the stock. AmericanBankingNews: Sets New 52-Week High
• Neutral Sentiment: Some commentary is examining valuation after the recent rally — higher multiples raise the risk that further upside depends on sustained margins and execution rather than multiple expansion alone. Yahoo Finance: Valuation After Momentum
• Neutral Sentiment: Investor reaction pieces synthesize the pipeline extension and margin backdrop; these help explain the stock’s move but note outcomes still depend on finalized shipper commitments and sustained refining spreads. Yahoo Finance: How Investors Are Reacting

Institutional Investors Weigh In On Phillips 66

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Phillips 66 by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company’s stock valued at $6,701,052,000 after acquiring an additional 205,480 shares in the last quarter. State Street Corp lifted its position in shares of Phillips 66 by 0.8% during the fourth quarter. State Street Corp now owns 23,589,550 shares of the oil and gas company’s stock worth $3,043,996,000 after purchasing an additional 175,616 shares in the last quarter. Elliott Investment Management L.P. lifted its position in shares of Phillips 66 by 22.4% during the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock worth $2,296,644,000 after purchasing an additional 3,526,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Phillips 66 by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company’s stock valued at $1,338,596,000 after purchasing an additional 45,340 shares during the period. Finally, Norges Bank acquired a new stake in Phillips 66 during the 4th quarter valued at $640,206,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

The stock has a market cap of $73.78 billion, a PE ratio of 17.01, a P/E/G ratio of 0.34 and a beta of 0.86. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average is $158.24 and its 200-day moving average is $142.89.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.32. The company had revenue of $32.16 billion during the quarter, compared to analysts’ expectations of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. During the same period in the prior year, the company posted ($0.15) EPS. As a group, sell-side analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were issued a $1.27 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $1.20. This represents a $5.08 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, February 23rd. Phillips 66’s dividend payout ratio (DPR) is currently 46.95%.

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.