Phillips 66 (NYSE:PSX) Receives $187.11 Consensus Price Target from Analysts

Phillips 66 (NYSE:PSX) has received an average recommendation of “Moderate Buy” from the twenty-four analysts that are currently covering the stock, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $191.2778.

A number of equities research analysts recently weighed in on PSX shares. Morgan Stanley restated an “overweight” rating and set a $180.00 price objective on shares of Phillips 66 in a research report on Thursday, April 30th. Piper Sandler boosted their price objective on Phillips 66 from $168.00 to $177.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 8th. Wolfe Research boosted their price objective on Phillips 66 from $187.00 to $193.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Raymond James Financial boosted their price objective on Phillips 66 from $205.00 to $215.00 in a research report on Thursday, April 30th. Finally, Citigroup boosted their price objective on Phillips 66 from $159.00 to $183.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th.

Insider Transactions at Phillips 66

In related news, EVP Brian Mandell sold 42,800 shares of the business’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $169.53, for a total transaction of $7,255,884.00. Following the sale, the executive vice president owned 61,595 shares in the company, valued at $10,442,200.35. The trade was a 41.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kevin J. Mitchell sold 600 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $171.56, for a total value of $102,936.00. Following the sale, the chief financial officer owned 97,376 shares in the company, valued at $16,705,826.56. This represents a 0.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 114,029 shares of company stock worth $19,641,455. 0.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Phillips 66

A number of institutional investors have recently made changes to their positions in PSX. Vanguard Group Inc. grew its position in shares of Phillips 66 by 11.6% in the 3rd quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company’s stock valued at $7,035,574,000 after buying an additional 5,356,558 shares during the last quarter. Norges Bank bought a new stake in shares of Phillips 66 in the 4th quarter valued at about $640,206,000. M&T Bank Corp grew its position in shares of Phillips 66 by 462.9% in the 4th quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock valued at $352,007,000 after buying an additional 2,243,268 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Phillips 66 by 424.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock valued at $257,512,000 after buying an additional 1,532,389 shares during the last quarter. Finally, Amundi grew its position in shares of Phillips 66 by 62.0% in the 1st quarter. Amundi now owns 3,667,451 shares of the oil and gas company’s stock valued at $668,137,000 after buying an additional 1,403,493 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Phillips 66 stock opened at $175.79 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. Phillips 66 has a 52 week low of $111.19 and a 52 week high of $190.61. The stock has a market capitalization of $70.48 billion, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 0.26 and a beta of 0.70. The stock has a fifty day moving average of $172.38 and a 200-day moving average of $154.66.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 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 company had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $35.86 billion. During the same quarter in the previous year, the firm earned ($0.90) EPS. Phillips 66’s revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts expect that Phillips 66 will post 17.64 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be given a dividend of $1.27 per share. The ex-dividend date is Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a yield of 2.9%. Phillips 66’s payout ratio is currently 50.05%.

About Phillips 66

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.