Shares of Phillips 66 (NYSE:PSX – Get Free Report) have been given a consensus rating of “Moderate Buy” by the twenty-two ratings firms that are currently covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $206.5556.
A number of equities analysts have recently commented on PSX shares. UBS Group lifted their target price on Phillips 66 from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, July 27th. The Goldman Sachs Group increased their price target on Phillips 66 from $207.00 to $235.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Raymond James Financial raised their price target on Phillips 66 from $218.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Morgan Stanley lifted their price objective on shares of Phillips 66 from $180.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Finally, Wall Street Zen upgraded shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 26th.
View Our Latest Research Report on PSX
Insider Activity
Hedge Funds Weigh In On Phillips 66
A number of large investors have recently bought and sold shares of PSX. BlackRock Inc. bought a new stake in shares of Phillips 66 during the second quarter worth $5,766,779,000. Bank of New York Mellon Corp purchased a new stake in shares of Phillips 66 during the second quarter valued at $1,093,206,000. Norges Bank bought a new position in shares of Phillips 66 in the fourth quarter worth about $640,206,000. M&T Bank Corp grew its holdings in shares of Phillips 66 by 462.9% in the fourth quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock worth $352,007,000 after purchasing an additional 2,243,268 shares during the last quarter. Finally, Deutsche Bank AG purchased a new position in Phillips 66 in the 2nd quarter worth about $271,128,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.
Phillips 66 Stock Up 3.1%
Shares of NYSE:PSX opened at $232.55 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57. Phillips 66 has a 12 month low of $119.80 and a 12 month high of $232.89. The company has a 50-day moving average price of $191.72 and a 200 day moving average price of $175.55. The company has a market cap of $92.79 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 0.16 and a beta of 0.68.
Phillips 66 (NYSE:PSX – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, topping the consensus estimate of $7.50 by $1.91. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.The company had revenue of $52.04 billion during the quarter, compared to analyst estimates of $43.60 billion. During the same quarter last year, the business posted $2.38 earnings per share. As a group, equities research analysts predict that Phillips 66 will post 24.44 earnings per share for the current year.
Phillips 66 Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a dividend of $1.27 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.2%. Phillips 66’s payout ratio is currently 28.95%.
Phillips 66 declared that its board has approved a share repurchase program on Friday, July 31st that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the oil and gas company to purchase up to 11.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
Key Phillips 66 News
Here are the key news stories impacting Phillips 66 this week:
- Positive Sentiment: Refining margins and cash flow remain strong. Phillips 66 reported second-quarter refining margins of $24.08 per barrel, while debt declined by $6.6 billion. Supply disruptions linked to the Iran conflict have also supported fuel margins across major U.S. refiners, potentially sustaining earnings and shareholder payouts. U.S. refiners ramp up buybacks as Iran war boosts fuel margins
- Positive Sentiment: Shareholder returns are a major catalyst. Phillips 66 authorized a $10 billion share-repurchase program, equal to approximately 11.8% of shares outstanding, and maintains a quarterly dividend of $1.27 per share. Stronger margins and reduced leverage improve the company’s capacity to return capital. Phillips 66 stock analysis
- Positive Sentiment: Analyst support and infrastructure expansion add confidence. J.P. Morgan maintained its Buy rating, while Phillips 66 and partners approved the approximately $5 billion Western Gateway refined-products pipeline. The 1,300-mile project could create longer-term transportation and logistics opportunities. J.P. Morgan maintains Buy rating
- Neutral Sentiment: Valuation and regulatory risks warrant caution. Strong refining margins, diversified cash flows and debt reduction support PSX’s premium valuation, but refining is cyclical and potential regulatory changes could pressure future profitability. Should You Buy Phillips 66 Stock at Its Current Premium Valuation?
- Negative Sentiment: Multiple executives have sold shares. EVP Richard Harbison sold 52,100 shares for about $11.7 million, while EVP Brian Mandell sold 33,300 shares for roughly $7.2 million. Additional option-related sales totaled about $1.7 million. The transactions may represent profit-taking after a strong run, but they could weigh on near-term sentiment. Phillips 66 insider selling activity
Phillips 66 Company Profile
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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