Phillips 66 (NYSE:PSX) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Phillips 66 has received an average rating of "Moderate Buy" from analysts, with a price target of $136.20 based on coverage from 19 ratings firms.
• The company reported earnings of $2.38 per share, exceeding expectations, along with a quarterly revenue of $33.77 billion.
• Phillips 66 declared a quarterly dividend of $1.20 per share, representing an annualized yield of 3.9% and a payout ratio of 115.38%.

Shares of Phillips 66 (NYSE:PSX - Get Free Report) have been given an average recommendation of "Moderate Buy" by the nineteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $136.20.

PSX has been the topic of a number of recent research reports. Citigroup lowered Phillips 66 from a "buy" rating to a "neutral" rating and upped their target price for the company from $126.00 to $130.00 in a research note on Wednesday, July 16th. Compass Point initiated coverage on Phillips 66 in a research note on Wednesday, June 18th. They issued a "buy" rating on the stock. Barclays upped their target price on Phillips 66 from $115.00 to $127.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Evercore ISI initiated coverage on Phillips 66 in a research note on Wednesday, June 18th. They issued an "outperform" rating and a $130.00 target price on the stock. Finally, Cantor Fitzgerald initiated coverage on Phillips 66 in a research note on Wednesday, June 18th. They issued a "neutral" rating on the stock.

Phillips 66 Stock Performance

NYSE PSX opened at $124.2240 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The business's 50 day moving average is $124.16 and its two-hundred day moving average is $119.01. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $140.85. The stock has a market capitalization of $50.20 billion, a price-to-earnings ratio of 29.86, a PEG ratio of 1.67 and a beta of 1.09.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.79 by $0.59. The business had revenue of $33.77 billion for the quarter, compared to analysts' expectations of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same quarter in the prior year, the firm posted $2.31 EPS. Research analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, August 19th. Phillips 66's dividend payout ratio is currently 115.38%.

Insider Activity at Phillips 66

In other news, EVP Brian Mandell sold 9,800 shares of the company's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the completion of the sale, the executive vice president directly owned 56,838 shares in the company, valued at $7,104,750. This represents a 14.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the company's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total value of $571,090.00. Following the sale, the executive vice president owned 43,373 shares of the company's stock, valued at approximately $5,638,490. The trade was a 9.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 9,850 shares of company stock worth $1,188,910. Company insiders own 0.22% of the company's stock.

Institutional Trading of Phillips 66

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Phillips 66 by 14.8% in the 2nd quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company's stock valued at $5,531,702,000 after purchasing an additional 5,978,841 shares in the last quarter. Elliott Investment Management L.P. grew its stake in shares of Phillips 66 by 22.4% during the second 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 acquiring an additional 3,526,000 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Phillips 66 by 17.4% during the second quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company's stock valued at $1,226,815,000 after acquiring an additional 1,532,967 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Phillips 66 by 6.1% during the second quarter. Bank of New York Mellon Corp now owns 9,394,750 shares of the oil and gas company's stock valued at $1,120,794,000 after acquiring an additional 537,245 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Phillips 66 by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company's stock valued at $828,442,000 after acquiring an additional 682,459 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Company Profile

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.

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