Phillips 66 (NYSE:PSX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Phillips 66 (NYSE:PSX) have been given an average recommendation of “Moderate Buy” by the twenty-two ratings firms that are presently covering the firm, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $206.5556.

Several equities analysts have issued reports on PSX shares. The Goldman Sachs Group upped their target price on shares of Phillips 66 from $207.00 to $235.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Jefferies Financial Group lifted their price target on shares of Phillips 66 from $191.00 to $207.00 and gave the stock a “hold” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. boosted their price objective on shares of Phillips 66 from $188.00 to $202.00 in a report on Thursday, April 30th. Guggenheim upgraded shares of Phillips 66 to an “outperform” rating in a research report on Wednesday, May 27th. Finally, Barclays raised their target price on shares of Phillips 66 from $183.00 to $216.00 and gave the stock an “equal weight” rating in a report on Thursday, August 6th.

Insider Buying and Selling at Phillips 66

In related news, CFO Kevin J. Mitchell sold 11,021 shares of Phillips 66 stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total value of $2,094,320.63. Following the completion of the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at $18,504,361.28. The trade was a 10.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Vanessa Allen Sutherland sold 3,523 shares of the company’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $211.05, for a total value of $743,529.15. Following the sale, the executive vice president owned 27,537 shares of the company’s stock, valued at approximately $5,811,683.85. This trade represents a 11.34% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 15,107 shares of company stock valued at $2,956,648 in the last ninety days. 0.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Phillips 66

Several institutional investors have recently made changes to their positions in the business. Ieq Capital LLC purchased a new position in shares of Phillips 66 in the second quarter worth approximately $44,387,000. Callan Family Office LLC purchased a new stake in Phillips 66 during the second quarter valued at approximately $1,659,000. Expressive Wealth LLC bought a new position in Phillips 66 in the second quarter worth approximately $225,000. Keebeck Wealth Management bought a new position in Phillips 66 in the second quarter worth approximately $432,000. Finally, Keating Financial Advisory Services Inc. purchased a new position in shares of Phillips 66 during the 2nd quarter worth $302,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Up 4.0%

PSX stock opened at $224.21 on Friday. The stock has a market capitalization of $89.46 billion, a P/E ratio of 12.78, a P/E/G ratio of 0.16 and a beta of 0.68. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.32 and a quick ratio of 1.00. Phillips 66 has a 1-year low of $118.64 and a 1-year high of $224.68. The business has a fifty day moving average price of $189.93 and a 200-day moving average price of $174.32.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, beating the consensus estimate of $7.50 by $1.91. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.The company had revenue of $52.04 billion for the quarter, compared to analysts’ expectations of $43.60 billion. During the same period last year, the firm posted $2.38 earnings per share. Equities analysts forecast that Phillips 66 will post 23.99 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66’s dividend payout ratio is presently 28.95%.

Phillips 66 declared that its board has initiated a share buyback program on Friday, July 31st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to purchase up to 11.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is 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.