Phillips 66 (NYSE:PSX) Receives Average Recommendation of “Moderate Buy” from Analysts

Phillips 66 (NYSE:PSX) has been assigned an average recommendation of “Moderate Buy” from the twenty-two ratings firms that are currently covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $192.3333.

A number of analysts recently issued reports on the company. Wall Street Zen raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. Scotiabank increased their target price on Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Zacks Research raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. BMO Capital Markets increased their target price on Phillips 66 from $195.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Finally, Morgan Stanley increased their target price on Phillips 66 from $180.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th.

Phillips 66 Stock Performance

Shares of PSX stock opened at $168.21 on Thursday. The stock has a 50-day moving average of $172.09 and a 200-day moving average of $159.28. Phillips 66 has a one year low of $118.00 and a one year high of $190.61. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The stock has a market cap of $67.44 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 0.24 and a beta of 0.68.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $35.86 billion. During the same period in the prior year, the business earned ($0.90) EPS. Phillips 66’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, sell-side analysts expect that Phillips 66 will post 18.22 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were given a dividend of $1.27 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a yield of 3.0%. Phillips 66’s dividend payout ratio is 50.05%.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 29,400 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the completion of the transaction, the chief financial officer owned 97,376 shares of the company’s stock, valued at $16,553,920. This represents a 23.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kevin Omar Meyers purchased 175 shares of Phillips 66 stock in a transaction on Wednesday, May 6th. The shares were purchased at an average cost of $173.12 per share, with a total value of $30,296.00. Following the transaction, the director owned 16,799 shares in the company, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have sold 45,629 shares of company stock valued at $8,071,540. Insiders own 0.40% of the company’s stock.

Institutional Trading of Phillips 66

Hedge funds and other institutional investors have recently modified their holdings of the stock. Board of the Pension Protection Fund acquired a new stake in shares of Phillips 66 in the fourth quarter valued at about $26,000. Accordant Advisory Group Inc boosted its holdings in shares of Phillips 66 by 900.0% in the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 180 shares during the last quarter. Eagle Bay Advisors LLC acquired a new stake in shares of Phillips 66 in the 4th quarter valued at approximately $27,000. NFSG Corp boosted its holdings in shares of Phillips 66 by 105.6% in the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 75 shares during the last quarter. Finally, Axiom Investment Management LLC acquired a new stake in shares of Phillips 66 in the 1st quarter valued at approximately $27,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

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.