Phillips 66 (NYSE:PSX) Reaches New 52-Week High – Still a Buy?

Phillips 66 (NYSE:PSX)’s stock price hit a new 52-week high on Friday . The company traded as high as $145.68 and last traded at $143.1060, with a volume of 194946 shares trading hands. The stock had previously closed at $144.22.

Wall Street Analysts Forecast Growth

PSX has been the topic of several recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Phillips 66 in a research note on Wednesday, October 8th. Jefferies Financial Group upped their price objective on shares of Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. TD Cowen raised their price objective on shares of Phillips 66 from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Wells Fargo & Company boosted their target price on Phillips 66 from $154.00 to $162.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, Piper Sandler decreased their price target on Phillips 66 from $171.00 to $155.00 and set a “neutral” rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $146.88.

Phillips 66 Trading Down 0.4%

The firm has a market cap of $57.89 billion, a price-to-earnings ratio of 39.18, a price-to-earnings-growth ratio of 0.37 and a beta of 0.90. The company has a quick ratio of 0.87, a current ratio of 1.23 and a debt-to-equity ratio of 0.68. The business’s fifty day moving average is $135.74 and its two-hundred day moving average is $131.09.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.The company had revenue of $33.69 billion during the quarter, compared to the consensus estimate of $32.29 billion. During the same quarter in the previous year, the company posted $2.04 earnings per share. Equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Brian Mandell sold 26,200 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $137.68, for a total transaction of $3,607,216.00. Following the transaction, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,825,455.84. This represents a 31.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the sale, the chief financial officer directly owned 89,771 shares of the company’s stock, valued at approximately $12,388,398. This trade represents a 25.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 81,700 shares of company stock worth $11,318,236. Corporate insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Brighton Jones LLC raised its position in shares of Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after acquiring an additional 7,214 shares during the period. Integrated Wealth Concepts LLC raised its stake in Phillips 66 by 2.7% during the 1st quarter. Integrated Wealth Concepts LLC now owns 9,963 shares of the oil and gas company’s stock worth $1,230,000 after buying an additional 266 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Phillips 66 by 45.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,743 shares of the oil and gas company’s stock worth $7,488,000 after acquiring an additional 19,059 shares in the last quarter. MBB Public Markets I LLC acquired a new position in Phillips 66 in the first quarter valued at about $305,000. Finally, Woodline Partners LP increased its holdings in shares of Phillips 66 by 40.7% in the first quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock worth $4,308,000 after acquiring an additional 10,089 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

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.