Phillips 66 (NYSE:PSX) Hits New 12-Month High – Should You Buy?

Phillips 66 (NYSE:PSX)’s stock price reached a new 52-week high on Friday . The company traded as high as $146.88 and last traded at $145.2880, with a volume of 169151 shares trading hands. The stock had previously closed at $141.93.

Analysts Set New Price Targets

PSX has been the subject of a number of research reports. Mizuho lifted their price objective on Phillips 66 from $150.00 to $152.00 and gave the company a “neutral” rating in a research report on Monday, January 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Phillips 66 in a report on Wednesday, October 8th. Jefferies Financial Group increased their target price on Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Piper Sandler set a $153.00 price target on shares of Phillips 66 in a research report on Monday, January 12th. Finally, BMO Capital Markets lifted their price target on Phillips 66 from $152.00 to $160.00 in a report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $150.41.

Phillips 66 Trading Up 0.5%

The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.23. The firm has a market cap of $57.47 billion, a P/E ratio of 39.11, a price-to-earnings-growth ratio of 0.40 and a beta of 0.90. The business’s fifty day moving average is $136.14 and its 200-day moving average is $132.32.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. The company had revenue of $33.69 billion during the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.During the same period last year, the company earned $2.04 earnings per share. Analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Insider Activity at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $138.00, for a total value of $4,140,000.00. Following the completion of the sale, the chief financial officer directly owned 89,771 shares of the company’s stock, valued at $12,388,398. This represents a 25.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Brian Mandell sold 26,200 shares of Phillips 66 stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total transaction of $3,607,216.00. Following the transaction, the executive vice president directly owned 56,838 shares in the company, valued at $7,825,455.84. This represents a 31.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 86,094 shares of company stock valued at $11,955,366. 0.22% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Phillips 66

Several institutional investors have recently made changes to their positions in the stock. Evolution Wealth Management Inc. purchased a new position in shares of Phillips 66 during the 2nd quarter valued at $25,000. Wolff Wiese Magana LLC increased its holdings in shares of Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after buying an additional 82 shares during the last quarter. Board of the Pension Protection Fund purchased a new stake in shares of Phillips 66 during the 4th quarter valued at $26,000. Accordant Advisory Group Inc lifted its holdings in shares of Phillips 66 by 900.0% during the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 180 shares during the last quarter. Finally, Stephens Consulting LLC grew its position in Phillips 66 by 67.7% in the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

About Phillips 66

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.