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

Phillips 66 (NYSE:PSX) reached a new 52-week high during trading on Thursday . The company traded as high as $147.96 and last traded at $145.1080, with a volume of 466854 shares trading hands. The stock had previously closed at $142.08.

Analysts Set New Price Targets

A number of research firms have issued reports on PSX. Citigroup lifted their price objective on shares of Phillips 66 from $137.00 to $146.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Scotiabank restated a “sector perform” rating and set a $140.00 price target on shares of Phillips 66 in a report on Friday, January 16th. Wall Street Zen lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Weiss Ratings restated a “hold (c)” rating on shares of Phillips 66 in a research note on Thursday, January 22nd. Finally, Morgan Stanley upped their target price on Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat, Phillips 66 has an average rating of “Hold” and a consensus price target of $153.53.

Phillips 66 Trading Up 2.8%

The stock has a market cap of $58.84 billion, a PE ratio of 39.87, a P/E/G ratio of 0.40 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 firm has a 50-day simple moving average of $136.39 and a 200-day simple moving average of $132.62.

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

Insider Buying and Selling

In related news, EVP Brian Mandell sold 25,500 shares of Phillips 66 stock in a transaction on Monday, December 1st. The stock was sold at an average price of $140.04, for a total transaction of $3,571,020.00. Following the completion of the sale, the executive vice president owned 56,838 shares of the company’s stock, valued at approximately $7,959,593.52. This trade represents a 30.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the firm’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $145.00, for a total value of $637,130.00. Following the completion of the sale, the executive vice president directly owned 30,193 shares in the company, valued at approximately $4,377,985. The trade was a 12.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 86,094 shares of company stock worth $11,955,366. Corporate insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

A number of large investors have recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. boosted its stake in Phillips 66 by 2.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock worth $414,000 after buying an additional 72 shares in the last quarter. L2 Asset Management LLC lifted its stake in shares of Phillips 66 by 4.0% in the 3rd quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock valued at $257,000 after acquiring an additional 72 shares during the last quarter. Mesirow Financial Investment Management Inc. grew its position in Phillips 66 by 0.5% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 15,658 shares of the oil and gas company’s stock worth $2,130,000 after acquiring an additional 73 shares during the last quarter. KCM Investment Advisors LLC lifted its position in Phillips 66 by 1.6% in the third quarter. KCM Investment Advisors LLC now owns 4,636 shares of the oil and gas company’s stock valued at $631,000 after purchasing an additional 74 shares during the last quarter. Finally, Abacus Planning Group Inc. boosted its stake in shares of Phillips 66 by 3.9% during the fourth quarter. Abacus Planning Group Inc. now owns 1,989 shares of the oil and gas company’s stock valued at $257,000 after purchasing an additional 74 shares during the period. Hedge funds and other institutional investors 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.