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

Key Points

• Phillips 66 has an average recommendation of "Moderate Buy" from 19 brokerage firms, with a price target averaging around $136.67.
• The company recently reported earnings of $2.38 per share, exceeding expectations, and has declared a quarterly dividend of $1.20 per share, yielding 3.7%.
• Insider trading revealed that an executive vice president sold 4,393 shares, while a director increased their position by buying 500 shares, indicating mixed insider sentiment.

Phillips 66 (NYSE:PSX - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the nineteen ratings firms that are currently covering the stock, MarketBeat.com reports. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $136.6667.

Several research analysts have issued reports on PSX shares. Wells Fargo & Company decreased their target price on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a report on Wednesday, June 11th. Citigroup lowered shares of Phillips 66 from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $126.00 to $130.00 in a research note on Wednesday, July 16th. Evercore ISI began coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued an "outperform" rating and a $130.00 price target for the company. Mizuho lifted their price target on shares of Phillips 66 from $140.00 to $142.00 and gave the stock a "neutral" rating in a research note on Monday. Finally, Morgan Stanley lifted their price target on shares of Phillips 66 from $122.00 to $128.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th.

Phillips 66 Stock Up 0.3%

Shares of Phillips 66 stock opened at $131.15 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The stock has a market capitalization of $53.00 billion, a PE ratio of 31.53, a price-to-earnings-growth ratio of 1.95 and a beta of 1.15. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $140.60. The company has a 50-day simple moving average of $127.04 and a two-hundred day simple moving average of $119.50.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.59. The business had revenue of $33.77 billion during the quarter, compared to analysts' expectations of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same period in the previous year, the company earned $2.31 earnings per share. On average, analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were paid a $1.20 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.7%. Phillips 66's payout ratio is currently 115.38%.

Insider Transactions at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the business's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $135.00, for a total transaction of $593,055.00. Following the completion of the sale, the executive vice president directly owned 38,980 shares in the company, valued at approximately $5,262,300. The trade was a 10.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sigmund L. Cornelius bought 500 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were acquired at an average price of $123.55 per share, with a total value of $61,775.00. Following the completion of the transaction, the director directly owned 21,543 shares of the company's stock, valued at $2,661,637.65. This trade represents a 2.38% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 9,850 shares of company stock valued at $1,188,910 and sold 18,586 shares valued at $2,389,145. 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 business. Valeo Financial Advisors LLC grew its position in Phillips 66 by 0.9% during the second quarter. Valeo Financial Advisors LLC now owns 15,159 shares of the oil and gas company's stock valued at $1,809,000 after buying an additional 140 shares during the period. SevenBridge Financial Group LLC grew its position in Phillips 66 by 11.6% during the second quarter. SevenBridge Financial Group LLC now owns 33,719 shares of the oil and gas company's stock valued at $4,048,000 after buying an additional 3,495 shares during the period. Osaic Holdings Inc. grew its position in Phillips 66 by 7.8% during the second quarter. Osaic Holdings Inc. now owns 113,076 shares of the oil and gas company's stock valued at $13,510,000 after buying an additional 8,195 shares during the period. Evolution Wealth Management Inc. bought a new stake in Phillips 66 during the second quarter valued at approximately $25,000. Finally, Orion Porfolio Solutions LLC grew its position in Phillips 66 by 32.0% during the second quarter. Orion Porfolio Solutions LLC now owns 27,886 shares of the oil and gas company's stock valued at $3,327,000 after buying an additional 6,757 shares during the period. 76.93% of the stock is currently owned by institutional investors.

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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