Analysts’ Weekly Ratings Updates for Phillips 66 (PSX)

Posted by Cindy Kellogue on May 2nd, 2024

Several analysts have recently updated their ratings and price targets for Phillips 66 (NYSE: PSX):

4/30/2024 – Phillips 66 had its price target lowered by analysts at Barclays PLC from $155.00 to $147.00. They now have an “equal weight” rating on the stock.
4/27/2024 – Phillips 66 was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
4/18/2024 – Phillips 66 was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
4/18/2024 – Phillips 66 had its price target raised by analysts at Barclays PLC from $139.00 to $155.00. They now have an “equal weight” rating on the stock.
4/12/2024 – Phillips 66 had its price target lowered by analysts at Mizuho from $167.00 to $162.00. They now have a “neutral” rating on the stock.
4/11/2024 – Phillips 66 had its price target raised by analysts at Scotiabank from $148.00 to $156.00. They now have a “sector outperform” rating on the stock.
4/8/2024 – Phillips 66 had its price target raised by analysts at Wells Fargo & Company from $179.00 to $191.00. They now have an “overweight” rating on the stock.
4/5/2024 – Phillips 66 had its price target raised by analysts at Piper Sandler from $169.00 to $187.00. They now have an “overweight” rating on the stock.
4/1/2024 – Phillips 66 had its price target raised by analysts at JPMorgan Chase & Co. from $149.00 to $167.00. They now have an “overweight” rating on the stock.
3/22/2024 – Phillips 66 had its price target raised by analysts at Mizuho from $135.00 to $167.00. They now have a “neutral” rating on the stock.
3/22/2024 – Phillips 66 had its price target raised by analysts at The Goldman Sachs Group, Inc. from $152.00 to $174.00. They now have a “buy” rating on the stock.
3/20/2024 – Phillips 66 had its price target raised by analysts at Wells Fargo & Company from $163.00 to $179.00. They now have an “overweight” rating on the stock.
3/15/2024 – Phillips 66 had its price target raised by analysts at Bank of America Co. from $150.00 to $180.00. They now have a “neutral” rating on the stock.

Phillips 66 Stock Performance

Phillips 66 stock traded up $4.22 during mid-day trading on Thursday, hitting $144.43. 1,465,753 shares of the company’s stock traded hands, compared to its average volume of 2,960,073. Phillips 66 has a one year low of $89.74 and a one year high of $174.08. The company has a market cap of $61.23 billion, a PE ratio of 11.11, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41. The firm has a 50 day moving average price of $155.67 and a 200 day moving average price of $137.76. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 0.58.

Phillips 66 (NYSE:PSX – Get Free Report) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The company had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. During the same period in the previous year, the company earned $4.21 EPS. On average, equities analysts forecast that Phillips 66 will post 13.13 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is 32.31%.

Insider Activity

In other Phillips 66 news, Director Robert W. Pease purchased 682 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was bought at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the transaction, the director now owns 1,900 shares in the company, valued at $278,502. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Joseph Scott Pruitt sold 5,922 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the transaction, the vice president now owns 6,583 shares in the company, valued at $1,036,164.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert W. Pease purchased 682 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were purchased at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the acquisition, 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. Insiders sold 35,056 shares of company stock worth $5,272,681 in the last quarter. Corporate insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

Hedge funds and other institutional investors have recently modified their holdings of the stock. Redmont Wealth Advisors LLC purchased a new position in shares of Phillips 66 in the first quarter valued at about $28,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of Phillips 66 in the fourth quarter worth approximately $27,000. First United Bank & Trust bought a new position in Phillips 66 during the fourth quarter valued at approximately $31,000. Rise Advisors LLC purchased a new stake in Phillips 66 during the first quarter valued at approximately $40,000. Finally, Signature Resources Capital Management LLC purchased a new stake in Phillips 66 during the fourth quarter valued at approximately $33,000. 76.93% of the stock is currently owned by institutional investors.

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.