Phillips 66 (NYSE:PSX) Sets New 1-Year High at $161.93

Phillips 66 (NYSE:PSX) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $161.93 and last traded at $161.82, with a volume of 853021 shares trading hands. The stock had previously closed at $158.96.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of Phillips 66 from $163.00 to $179.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. TD Cowen raised their target price on Phillips 66 from $134.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, December 4th. Mizuho upped their price target on shares of Phillips 66 from $135.00 to $167.00 and gave the company a “neutral” rating in a research report on Friday, March 22nd. Bank of America raised their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Finally, StockNews.com upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Saturday, February 10th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus target price of $148.69.

Phillips 66 Stock Performance

The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. The business’s fifty day moving average price is $146.27 and its two-hundred day moving average price is $130.34. The stock has a market capitalization of $69.89 billion, a P/E ratio of 10.56, a P/E/G ratio of 2.08 and a beta of 1.36.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.72. The business had revenue of $38.74 billion for the quarter, compared to the consensus estimate of $34.30 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. As a group, sell-side analysts forecast that Phillips 66 will post 12.55 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Tuesday, February 20th were paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 2.57%. The ex-dividend date was Friday, February 16th. Phillips 66’s payout ratio is 27.15%.

Insider Activity

In related news, EVP Zhanna Golodryga sold 5,253 shares of the business’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $135.00, for a total transaction of $709,155.00. Following the completion of the transaction, the executive vice president now owns 24,914 shares in the company, valued at approximately $3,363,390. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Zhanna Golodryga sold 5,253 shares of Phillips 66 stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $135.00, for a total value of $709,155.00. Following the completion of the sale, the executive vice president now directly owns 24,914 shares in the company, valued at $3,363,390. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Pease acquired 682 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were acquired at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the purchase, the director now owns 1,900 shares of the company’s stock, valued at approximately $278,502. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 40,309 shares of company stock valued at $5,981,836. 4.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Phillips 66

Several institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN increased its position in Phillips 66 by 0.6% during the 2nd quarter. Wells Fargo & Company MN now owns 17,121,154 shares of the oil and gas company’s stock valued at $1,633,016,000 after buying an additional 97,198 shares in the last quarter. Wellington Management Group LLP boosted its stake in Phillips 66 by 20.3% in the 4th quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock worth $1,451,643,000 after purchasing an additional 1,842,226 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in Phillips 66 by 100,843.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 9,979,304 shares of the oil and gas company’s stock worth $1,038,646,000 after purchasing an additional 9,969,418 shares during the last quarter. Barclays PLC increased its stake in Phillips 66 by 4.2% during the 3rd quarter. Barclays PLC now owns 7,760,709 shares of the oil and gas company’s stock valued at $932,447,000 after purchasing an additional 309,239 shares in the last quarter. Finally, Morgan Stanley raised its holdings in shares of Phillips 66 by 16.2% in the fourth quarter. Morgan Stanley now owns 6,961,625 shares of the oil and gas company’s stock worth $724,566,000 after buying an additional 968,055 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

About Phillips 66

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.