Phillips 66 (NYSE:PSX) Reaches New 52-Week High Following Analyst Upgrade

Phillips 66 (NYSE:PSX)’s share price reached a new 52-week high on Tuesday after TD Cowen raised their price target on the stock from $155.00 to $213.00. TD Cowen currently has a buy rating on the stock. Phillips 66 traded as high as $190.61 and last traded at $184.8350, with a volume of 2804072 shares traded. The stock had previously closed at $188.28.

Several other brokerages also recently weighed in on PSX. The Goldman Sachs Group upped their price target on Phillips 66 from $168.00 to $186.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. UBS Group reiterated a “buy” rating and issued a $172.00 price objective on shares of Phillips 66 in a research note on Friday, February 6th. JPMorgan Chase & Co. lowered their price objective on Phillips 66 from $154.00 to $151.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. Scotiabank upgraded shares of Phillips 66 to a “hold” rating in a research note on Friday, March 27th. Finally, Citigroup raised their target price on shares of Phillips 66 from $146.00 to $159.00 and gave the company a “neutral” rating in a report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $169.56.

Insider Buying and Selling

In other Phillips 66 news, Director Kevin Omar Meyers acquired 175 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were acquired at an average price of $173.20 per share, for a total transaction of $30,310.00. Following the acquisition, the director owned 16,624 shares in the company, valued at $2,879,276.80. The trade was a 1.06% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kevin J. Mitchell sold 16,856 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $168.22, for a total value of $2,835,516.32. Following the sale, the chief financial officer directly owned 97,376 shares in the company, valued at $16,380,590.72. This trade represents a 14.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 84,688 shares of company stock valued at $14,066,145 over the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

Key Phillips 66 News

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: TD Cowen bumped its price target to $213 and kept a “buy” rating, signaling meaningful upside vs. recent levels which supports a bullish medium‑term view. TD Cowen Adjusts Price Target on Phillips 66 to $213
• Positive Sentiment: Wells Fargo raised its target to $201 and assigned an “overweight” rating, another institutional vote of confidence that could support shares if market sentiment stabilizes. Wells Fargo Raises Target
• Positive Sentiment: Coverage pieces note Phillips 66 recently hit a new 1‑year high, indicating recent momentum and giving context for possible profit‑taking after gains. Phillips 66 Reaches New 1-Year High
• Neutral Sentiment: News wires and market summaries reported the intraday decline while broader markets were mixed, highlighting that the drop is being noted but not yet tied to new company fundamentals. Phillips 66 (PSX) Stock Dips While Market Gains: Key Facts
• Negative Sentiment: Recent insider activity includes a multi‑million dollar transaction by a top executive, which markets often interpret as a negative signal about near‑term confidence. Top Phillips 66 Executive Executes Major Multi-Million Dollar Stock Move
• Negative Sentiment: Reporting shows insiders have sold roughly US$1.9M of stock over the past year, which can amplify selling pressure and concern among investors if perceived as a lack of insider conviction. Insiders At Phillips 66 Sold US$1.9m In Stock

Hedge Funds Weigh In On Phillips 66

Several hedge funds have recently added to or reduced their stakes in PSX. Vanguard Group Inc. lifted its position in shares of Phillips 66 by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company’s stock worth $6,701,052,000 after buying an additional 205,480 shares during the last quarter. State Street Corp boosted its holdings in shares of Phillips 66 by 0.8% in the 4th quarter. State Street Corp now owns 23,589,550 shares of the oil and gas company’s stock valued at $3,043,996,000 after buying an additional 175,616 shares in the last quarter. Elliott Investment Management L.P. grew its position in shares of Phillips 66 by 22.4% in the 2nd quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock valued at $2,296,644,000 after buying an additional 3,526,000 shares during the last quarter. Geode Capital Management LLC raised its stake in Phillips 66 by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company’s stock worth $1,338,596,000 after acquiring an additional 45,340 shares in the last quarter. Finally, Norges Bank purchased a new stake in Phillips 66 in the fourth quarter valued at $640,206,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Trading Down 3.6%

The stock has a market capitalization of $70.39 billion, a PE ratio of 16.23, a PEG ratio of 0.34 and a beta of 0.76. The company has a quick ratio of 0.91, a current ratio of 1.30 and a debt-to-equity ratio of 0.62. The business’s 50-day moving average is $161.72 and its two-hundred day moving average is $144.41.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.32. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.The company had revenue of $32.16 billion for the quarter, compared to analyst estimates of $33.81 billion. During the same quarter last year, the company posted ($0.15) earnings per share. On average, analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were paid a dividend of $1.27 per share. The ex-dividend date was Monday, February 23rd. This represents a $5.08 dividend on an annualized basis and a yield of 2.9%. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s dividend payout ratio (DPR) is 46.95%.

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.