Phillips 66 (NYSE:PSX) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Phillips 66 received a consensus “Moderate Buy” rating from 22 brokerages, with an average 12-month price target of about $192.33. Recent analyst actions were mostly positive, including target increases and several upgrades to buy or strong-buy.
• The stock was trading at $167.08 and fell 2.9% on the day cited, while the company showed a market cap of roughly $67 billion and a P/E ratio of 16.46. Its latest quarterly earnings beat EPS expectations, though revenue came in below estimates.
• Phillips 66 also paid a quarterly dividend of $1.27 per share, implying an annualized yield of about 3.0%. Institutional ownership remains high at 76.93%, and insider trading was mixed with one director buying shares while the CFO sold shares.

Phillips 66 (NYSE:PSX - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twenty-two brokerages that are currently covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $192.3333.

Several analysts have recently weighed in on PSX shares. Wells Fargo & Company lifted their target price on shares of Phillips 66 from $163.00 to $201.00 and gave the company an "overweight" rating in a report on Tuesday, March 31st. Tudor Pickering raised shares of Phillips 66 from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. Argus lifted their target price on shares of Phillips 66 from $185.00 to $197.00 and gave the company a "buy" rating in a report on Thursday, May 14th. Zacks Research raised shares of Phillips 66 from a "hold" rating to a "strong-buy" rating in a report on Monday, April 27th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Phillips 66 from $188.00 to $202.00 in a report on Thursday, April 30th.

Phillips 66 Trading Down 2.9%

Shares of Phillips 66 stock opened at $167.08 on Thursday. Phillips 66 has a 1 year low of $118.00 and a 1 year high of $190.61. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. The company has a market capitalization of $66.99 billion, a P/E ratio of 16.46, a PEG ratio of 0.25 and a beta of 0.68. The company's fifty day moving average is $172.14 and its two-hundred day moving average is $158.68.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $1.03. The company had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. Phillips 66's revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm posted ($0.90) EPS. Analysts forecast that Phillips 66 will post 18.12 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were paid a $1.27 dividend. The ex-dividend date was Monday, May 18th. This represents a $5.08 annualized dividend and a dividend yield of 3.0%. Phillips 66's dividend payout ratio (DPR) is 50.05%.

Insider Activity

In related news, Director Kevin Omar Meyers acquired 175 shares of Phillips 66 stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the purchase, the director directly owned 16,799 shares of the company's stock, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin J. Mitchell sold 600 shares of the firm's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $171.56, for a total transaction of $102,936.00. Following the completion of the sale, the chief financial officer owned 97,376 shares of the company's stock, valued at $16,705,826.56. This trade represents a 0.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 45,629 shares of company stock valued at $8,071,540 in the last quarter. Company insiders own 0.40% of the company's stock.

Institutional Trading of Phillips 66

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. DV Trading LLC acquired a new stake in shares of Phillips 66 in the first quarter valued at about $237,000. Parallel Advisors LLC raised its position in Phillips 66 by 4.5% during the first quarter. Parallel Advisors LLC now owns 11,037 shares of the oil and gas company's stock worth $2,011,000 after acquiring an additional 480 shares during the last quarter. First Nebraska Trust Co acquired a new position in Phillips 66 during the first quarter worth about $3,606,000. Cozad Asset Management Inc. raised its position in Phillips 66 by 92.9% during the first quarter. Cozad Asset Management Inc. now owns 7,143 shares of the oil and gas company's stock worth $1,301,000 after acquiring an additional 3,440 shares during the last quarter. Finally, Carlson Capital L.P. raised its position in Phillips 66 by 256.3% during the first quarter. Carlson Capital L.P. now owns 11,757 shares of the oil and gas company's stock worth $2,142,000 after acquiring an additional 8,457 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company's stock.

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.

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