The stock of Phillips 66 (NYSE:PSX) last traded at $113.27, down -0.14% from the previous session.
Data from the available sources indicates that Phillips 66 (NYSE:PSX) is covered by 19 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $141.00 and a low of $115.00, we find $125.00. Given the previous closing price of $113.43, this indicates a potential upside of 10.2 percent. PSX stock price is now 10.79% away from the 50-day moving average and 11.23% away from the 200-day moving average. The market capitalization of the company currently stands at $49.59B.
In total, 8 analysts have assigned it a hold rating, and 10 have given it a buy rating. Brokers who have rated the stock have averaged $126.93 as their price target over the next twelve months.
With the price target enhanced from $132 to $141, BofA Securities Downgraded its rating from Buy to Neutral for Phillips 66 (NYSE: PSX).
In other news, Roberts Timothy D., Executive Vice President sold 127,578 shares of the company’s stock on Aug 11. The stock was sold for $14,885,801 at an average price of $116.68. Upon completion of the transaction, the Executive Vice President now directly owns 77,313 shares in the company, valued at $8.76 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 09, Exec. VP and CFO Mitchell Kevin J sold 9,900 shares of the business’s stock. A total of $1,138,500 was realized by selling the stock at an average price of $115.00. This leaves the insider owning 103,803 shares of the company worth $11.76 million. Insiders disposed of 32,944 shares of company stock worth roughly $3.73 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PSX stock. A new stake in Phillips 66 shares was purchased by ELLIOTT INVESTMENT MANAGEMENT L.P. during the first quarter worth $87,784,000. ALYESKA INVESTMENT GROUP, L.P. invested $35,828,000 in shares of PSX during the first quarter. In the first quarter, EA SERIES TRUST acquired a new stake in Phillips 66 valued at approximately $17,040,000. PORTSIDE WEALTH GROUP, LLC acquired a new stake in PSX for approximately $13,947,000. MANNING & NAPIER GROUP, LLC purchased a new stake in PSX valued at around $13,729,000 in the second quarter. In total, there are 1,950 active investors with 73.50% ownership of the company’s stock.
With an opening price of $114.00 on Wednesday morning, Phillips 66 (NYSE: PSX) set off the trading day. During the past 12 months, Phillips 66 has had a low of $74.02 and a high of $117.29. As of last week, the company has a debt-to-equity ratio of 0.66, a current ratio of 1.30, and a quick ratio of 0.90. The fifty day moving average price for PSX is $102.58 and a two-hundred day moving average price translates $101.88 for the stock.
The latest earnings results from Phillips 66 (NYSE: PSX) was released for Jun, 2023. According to the Oil & Gas Refining & Marketing Company, earnings per share came in at $3.87, beating analysts’ expectations of $3.56 by 0.31. This compares to $6.53 EPS in the same period last year. The net profit margin was 7.10% and return on equity was 37.10% for PSX. The company reported revenue of $35.09 billion for the quarter, compared to $48.58 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -27.76 percent. For the current quarter, analysts expect PSX to generate $37.55B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/01/2023. Investors who held shares on 08/18/2023 were paid a $1.05 dividend. On an annualized basis, this represents a $4.20 dividend and a 3.71% percent yield. There was an ex-dividend date of 08/17/2023 for this dividend. In terms of dividend payout ratio, PSX is presently at 17.50%.
Phillips 66(PSX) 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. The Chemicals segment produces and markets ethylene and other olefin products; aromatics and styrenics products, such as benzene, cyclohexane, styrene, and polystyrene; and various specialty chemical products, including organosulfur chemicals, solvents, catalysts, and chemicals used in drilling and mining. The Refining segment refines crude oil and other feedstocks into petroleum products, such as gasolines, distillates, aviation, and renewable. The M&S segment purchases for resale and markets refined petroleum products, including gasolines, distillates, and aviation fuels. This segment also manufactures and markets specialty products, such as base oils and lubricants. The company was founded in 1875 and is headquartered in Houston, Texas.
