Phillips 66 (NYSE:PSX) Sets New 1-Year High at $161.93

Phillips 66 (NYSE:PSX)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $161.93 and last traded at $161.82, with a volume of 853021 shares. The stock had previously closed at $158.96.

Wall Street Analyst Weigh In

PSX has been the topic of a number of recent analyst reports. Bank of America boosted their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Wells Fargo & Company raised their price objective on Phillips 66 from $163.00 to $179.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. The Goldman Sachs Group upped their target price on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. StockNews.com raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Saturday, February 10th. Finally, Raymond James upped their price target on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $148.69.

Phillips 66 Stock Performance

The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. The firm has a market cap of $69.89 billion, a price-to-earnings ratio of 10.56, a price-to-earnings-growth ratio of 2.08 and a beta of 1.36. The company has a fifty day moving average price of $146.27 and a two-hundred day moving average price of $130.34.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.72. The company had revenue of $38.74 billion for the quarter, compared to analysts’ expectations of $34.30 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. As a group, equities research analysts expect that Phillips 66 will post 12.55 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Tuesday, February 20th were given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend was Friday, February 16th. Phillips 66’s payout ratio is 27.15%.

Insiders Place Their Bets

In other news, Director Robert W. Pease bought 682 shares of the stock in a transaction on Thursday, February 15th. The shares were purchased at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the purchase, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $278,502. The purchase was disclosed in a filing with the SEC, which is available through this link. In related news, VP Joseph Scott Pruitt sold 5,922 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert W. Pease purchased 682 shares of the stock in a transaction dated Thursday, February 15th. The stock was acquired at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the transaction, the director now owns 1,900 shares of the company’s stock, valued at approximately $278,502. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 40,309 shares of company stock worth $5,981,836. 4.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PSX. Ables Iannone Moore & Associates Inc. acquired a new stake in Phillips 66 during the fourth quarter worth $27,000. Main Street Group LTD bought a new position in Phillips 66 during the fourth quarter worth about $28,000. First United Bank & Trust acquired a new stake in Phillips 66 in the 4th quarter valued at $31,000. Signature Resources Capital Management LLC bought a new stake in shares of Phillips 66 in the 4th quarter worth about $33,000. Finally, Cornerstone Planning Group LLC grew its stake in Phillips 66 by 134.8% during the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after buying an additional 151 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.