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

Phillips 66 (NYSE:PSX) shares hit a new 52-week high during trading on Tuesday after TD Cowen raised their price target on the stock from $155.00 to $213.00. TD Cowen currently has a buy rating on the stock. Phillips 66 traded as high as $190.61 and last traded at $184.8350, with a volume of 2804072 shares trading hands. The stock had previously closed at $188.28.

Other equities analysts have also issued reports about the company. Wells Fargo & Company boosted their price target on Phillips 66 from $163.00 to $201.00 and gave the company an “overweight” rating in a research note on Tuesday. Zacks Research lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Jefferies Financial Group upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 16th. Argus upped their target price on Phillips 66 from $152.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Finally, UBS Group reaffirmed a “buy” rating and issued a $172.00 target price 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 assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $169.56.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 16,856 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $168.22, for a total value of $2,835,516.32. Following the sale, the chief financial officer directly owned 97,376 shares in the company, valued at $16,380,590.72. This represents a 14.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kevin Omar Meyers acquired 175 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were bought at an average cost 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 of the company’s stock, valued at approximately $2,879,276.80. This trade represents a 1.06% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders sold 84,688 shares of company stock worth $14,066,145. Insiders own 0.22% of the company’s stock.

Key Headlines Impacting Phillips 66

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

• Positive Sentiment: TD Cowen bumped its price target to $213 and kept a “buy” rating, signaling meaningful upside vs. recent levels which supports a bullish medium‑term view. TD Cowen Adjusts Price Target on Phillips 66 to $213
• Positive Sentiment: Wells Fargo raised its target to $201 and assigned an “overweight” rating, another institutional vote of confidence that could support shares if market sentiment stabilizes. Wells Fargo Raises Target
• Positive Sentiment: Coverage pieces note Phillips 66 recently hit a new 1‑year high, indicating recent momentum and giving context for possible profit‑taking after gains. Phillips 66 Reaches New 1-Year High
• Neutral Sentiment: News wires and market summaries reported the intraday decline while broader markets were mixed, highlighting that the drop is being noted but not yet tied to new company fundamentals. Phillips 66 (PSX) Stock Dips While Market Gains: Key Facts
• Negative Sentiment: Recent insider activity includes a multi‑million dollar transaction by a top executive, which markets often interpret as a negative signal about near‑term confidence. Top Phillips 66 Executive Executes Major Multi-Million Dollar Stock Move
• Negative Sentiment: Reporting shows insiders have sold roughly US$1.9M of stock over the past year, which can amplify selling pressure and concern among investors if perceived as a lack of insider conviction. Insiders At Phillips 66 Sold US$1.9m In Stock

Hedge Funds Weigh In On Phillips 66

Institutional investors have recently added to or reduced their stakes in the company. Board of the Pension Protection Fund bought a new stake in Phillips 66 during the fourth quarter worth about $26,000. Accordant Advisory Group Inc raised its stake in shares of Phillips 66 by 900.0% in the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 180 shares during the last quarter. SWAN Capital LLC raised its stake in shares of Phillips 66 by 1,055.6% in the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 190 shares during the last quarter. Evolution Wealth Management Inc. acquired a new position in shares of Phillips 66 in the 2nd quarter worth approximately $25,000. Finally, Eagle Bay Advisors LLC bought a new stake in Phillips 66 during the 4th quarter worth approximately $27,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Performance

The stock has a 50-day moving average of $161.72 and a 200 day moving average of $144.41. The firm has a market capitalization of $70.39 billion, a P/E ratio of 16.23, a price-to-earnings-growth ratio of 0.34 and a beta of 0.76. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.91 and a current ratio of 1.30.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.32. The firm had revenue of $32.16 billion during the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.During the same quarter in the previous year, the company posted ($0.15) EPS. On average, research analysts anticipate 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 a positive change from Phillips 66’s previous quarterly dividend of $1.20. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, February 23rd. Phillips 66’s dividend payout ratio (DPR) is presently 46.95%.

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.