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

Phillips 66 logo with Energy background

Key Points

  • Phillips 66 has received a consensus rating of "Moderate Buy" from 18 research firms, with an average target price of $135.20.
  • Insider trading activities include Vanessa Allen Sutherland selling 4,393 shares and Brian Mandell selling 9,800 shares, indicating recent decreases in their ownership.
  • The company announced a quarterly dividend of $1.20 per share, reflecting an annualized yield of 3.84% and a payout ratio of 115.38%.
  • MarketBeat previews top five stocks to own in September.

Phillips 66 (NYSE:PSX - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eighteen analysts that are presently covering the stock, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $136.13.

Several equities analysts recently issued reports on the company. Evercore ISI assumed coverage on Phillips 66 in a report on Wednesday, June 18th. They set an "outperform" rating and a $130.00 price objective for the company. Wells Fargo & Company reduced their price objective on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a report on Wednesday, June 11th. Barclays lifted their price objective on Phillips 66 from $115.00 to $127.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Piper Sandler reduced their price objective on Phillips 66 from $147.00 to $144.00 and set a "neutral" rating for the company in a report on Monday. Finally, Citigroup cut Phillips 66 from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $126.00 to $130.00 in a report on Wednesday, July 16th.

View Our Latest Research Report on PSX

Insider Buying and Selling

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total transaction of $571,090.00. Following the sale, the executive vice president directly owned 43,373 shares of the company's stock, valued at $5,638,490. This trade represents a 9.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert W. Pease acquired 439 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were bought at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the acquisition, the director directly owned 4,091 shares of the company's stock, valued at approximately $465,760.35. This represents a 12.02% increase in their position. The disclosure for this purchase can be found here. 0.22% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PSX. Elliott Investment Management L.P. raised its position in Phillips 66 by 1,929.0% in the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company's stock worth $1,941,723,000 after purchasing an additional 14,950,000 shares during the last quarter. Geode Capital Management LLC raised its position in Phillips 66 by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company's stock worth $968,844,000 after purchasing an additional 82,758 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Phillips 66 by 11.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company's stock worth $828,442,000 after purchasing an additional 682,459 shares during the last quarter. Invesco Ltd. raised its position in Phillips 66 by 15.9% in the 1st quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company's stock worth $588,489,000 after purchasing an additional 653,248 shares during the last quarter. Finally, Northern Trust Corp raised its position in Phillips 66 by 10.6% in the 4th quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company's stock worth $522,834,000 after purchasing an additional 440,107 shares during the last quarter. Institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Performance

Shares of PSX stock traded down $0.40 during midday trading on Monday, hitting $124.00. The company had a trading volume of 362,528 shares, compared to its average volume of 3,457,152. The company's 50 day simple moving average is $122.07 and its 200 day simple moving average is $118.83. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $150.12. The stock has a market cap of $50.11 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 1.81 and a beta of 1.02. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.88.

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

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.87%. The ex-dividend date is Tuesday, August 19th. Phillips 66's dividend payout ratio is currently 115.38%.

Phillips 66 Company Profile

(Get Free Report

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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