Phillips 66 (NYSE:PSX) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Phillips 66 has a consensus analyst rating of “Moderate Buy” from 22 brokerages, with 12 buys, 1 strong buy, and 9 holds. The average 12-month price target is about $193.94.
• The company recently announced a quarterly dividend of $1.27 per share, which translates to a 2.7% annualized yield and reflects continued shareholder returns.
• Recent updates on the stock have been mixed but generally constructive, including analyst upgrades and higher price targets, while some commentary notes that rising crude prices and Middle East tensions could support Phillips 66’s refining margins.

Shares of Phillips 66 (NYSE:PSX - Get Free Report) have received a consensus rating of "Moderate Buy" from the twenty-two brokerages that are currently covering the stock, MarketBeat.com reports. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $193.9444.

Several equities research analysts have weighed in on the stock. Tudor Pickering upgraded shares of Phillips 66 from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. Wells Fargo & Company boosted their price target 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. Citigroup upped their price objective on shares of Phillips 66 from $159.00 to $183.00 and gave the company a "neutral" rating in a research report on Thursday, April 9th. Argus raised their price objective on Phillips 66 from $185.00 to $197.00 and gave the stock a "buy" rating in a research note on Thursday, May 14th. Finally, Mizuho upgraded Phillips 66 from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $170.00 to $212.00 in a report on Wednesday, May 27th.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 600 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $171.56, for a total transaction of $102,936.00. Following the sale, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $16,705,826.56. This trade represents a 0.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kevin Omar Meyers bought 175 shares of the company's stock in a transaction on Wednesday, May 6th. The shares were bought at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the acquisition, the director directly owned 16,799 shares in the company, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Phillips 66

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NFSG Corp raised its stake in shares of Phillips 66 by 105.6% in the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company's stock valued at $27,000 after purchasing an additional 75 shares during the period. Axiom Investment Management LLC bought a new position in shares of Phillips 66 during the first quarter worth about $27,000. Board of the Pension Protection Fund bought a new position in shares of Phillips 66 during the fourth quarter worth about $26,000. Accordant Advisory Group Inc raised its position in Phillips 66 by 900.0% in the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company's stock valued at $26,000 after buying an additional 180 shares during the last quarter. Finally, SWAN Capital LLC raised its position in Phillips 66 by 1,055.6% in the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company's stock valued at $27,000 after buying an additional 190 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Phillips 66

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

• Positive Sentiment: Phillips 66 announced a quarterly dividend of $1.27 per share, reinforcing its income appeal for investors and signaling continued shareholder returns. Phillips 66 Announces Quarterly Dividend
• Positive Sentiment: Recent commentary noted that higher crude prices and renewed Middle East tensions could support refining margins and help Phillips 66, since the company can benefit when fuel spreads remain favorable. What Do Renewed Middle East Tensions Mean for Phillips 66's Business?
• Positive Sentiment: Analysts highlighted Phillips 66 as a momentum name, and the stock has been outperforming broader market moves, which can attract additional buying interest. Why Phillips 66 (PSX) is a top momentum stock for the long term
• Neutral Sentiment: Barclays raised its price target on Phillips 66 to $183 from $177 but kept an equal-weight rating, suggesting a modestly cautious stance rather than a strong bullish call. Phillips 66 NYSE: PSX Given New $183.00 Price Target at Barclays
• Neutral Sentiment: Coverage also focused on analysts’ views and dividend-related news, which supports investor attention but does not materially change the company’s operating outlook by itself. Analysts Offer Insights on Energy Companies: Exxon Mobil (XOM) and Phillips 66 (PSX)
• Negative Sentiment: One market update said Phillips 66 was set to snap a six-session winning streak, indicating some near-term cooling after the recent rally. Phillips 66 set to snap six straight sessions of gains

Phillips 66 Stock Performance

Shares of PSX stock opened at $188.59 on Monday. The stock has a market cap of $75.61 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 0.25 and a beta of 0.69. The stock has a 50-day moving average of $176.38 and a 200-day moving average of $163.20. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. Phillips 66 has a one year low of $118.07 and a one year high of $193.04.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping the consensus estimate of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The business had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. During the same quarter last year, the firm earned ($0.90) EPS. Phillips 66's quarterly revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts expect that Phillips 66 will post 19.3 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be given a $1.27 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.7%. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.