Phillips 66 (NYSE:PSX) Price Target Raised to $151.00 at Scotiabank

Phillips 66 (NYSE:PSX) had its price target increased by Scotiabank from $140.00 to $151.00 in a report released on Wednesday morning,Benzinga reports. They currently have a sector perform rating on the oil and gas company’s stock.

Several other research firms also recently weighed in on PSX. Wolfe Research lifted their target price on shares of Phillips 66 from $187.00 to $193.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. UBS Group lifted their target price on shares of Phillips 66 from $172.00 to $212.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Weiss Ratings raised shares of Phillips 66 from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Citigroup lifted their target price on shares of Phillips 66 from $159.00 to $183.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Finally, Barclays lifted their target price on shares of Phillips 66 from $158.00 to $177.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 8th. Eleven research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Hold” and a consensus target price of $181.33.

Phillips 66 Stock Performance

Shares of PSX opened at $160.79 on Wednesday. The firm’s 50 day moving average is $166.54 and its 200-day moving average is $147.60. The stock has a market capitalization of $64.43 billion, a P/E ratio of 14.86, a P/E/G ratio of 0.29 and a beta of 0.76. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.30 and a quick ratio of 0.91. Phillips 66 has a 12-month low of $101.54 and a 12-month high of $190.61.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.32. The company had revenue of $32.16 billion for the quarter, compared to analysts’ expectations of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. During the same quarter in the previous year, the company posted ($0.15) EPS. Equities research analysts anticipate that Phillips 66 will post 14.12 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Monday, May 18th. Phillips 66’s dividend payout ratio (DPR) is currently 46.95%.

Insider Buying and Selling at Phillips 66

In related news, Director Kevin Omar Meyers purchased 175 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was acquired at an average cost of $173.20 per share, for a total transaction of $30,310.00. Following the completion of the acquisition, the director owned 16,624 shares in the company, valued at $2,879,276.80. This trade represents a 1.06% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brian Mandell sold 42,800 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $169.53, for a total transaction of $7,255,884.00. Following the sale, the executive vice president owned 61,595 shares of the company’s stock, valued at approximately $10,442,200.35. This represents a 41.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 95,923 shares of company stock valued at $16,399,619 in the last 90 days. Corporate insiders own 0.40% of the company’s stock.

Institutional Trading of Phillips 66

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Phillips 66 by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company’s stock valued at $6,701,052,000 after acquiring an additional 205,480 shares during the last quarter. State Street Corp lifted its stake in Phillips 66 by 0.8% in the fourth quarter. State Street Corp now owns 23,589,550 shares of the oil and gas company’s stock valued at $3,043,996,000 after acquiring an additional 175,616 shares during the last quarter. Geode Capital Management LLC lifted its stake in Phillips 66 by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company’s stock valued at $1,338,596,000 after acquiring an additional 45,340 shares during the last quarter. Norges Bank acquired a new stake in Phillips 66 in the fourth quarter valued at approximately $640,206,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Phillips 66 by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,944,561 shares of the oil and gas company’s stock valued at $509,006,000 after acquiring an additional 89,621 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

More Phillips 66 News

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Diesel rally boosts refining outlook — a recent report highlights diesel up ~50% in weeks, naming Phillips 66 as a beneficiary as higher diesel prices and margins can lift refining profits and cash flow. Diesel Is Up 50% in Weeks. Here Are 2 Stocks Quietly Benefiting From the Spike.
• Positive Sentiment: Rising crack spreads expected to help results — investor commentary (Oakmark via InsiderMonkey) flags Phillips 66 as poised to benefit from widening crack spreads, supporting near-term earnings upside for the refining segment. Phillips 66 (PSX) Is Expected to Benefit from Rising Crack Spreads
• Positive Sentiment: Renewables feedstock partnerships — Restaurant Technologies reported converting UCO into renewable diesel/biodiesel “with the support of renewable energy partners such as Phillips 66,” reinforcing PSX’s access to feedstock and its renewables strategy. This supports medium-term growth in lower-carbon fuels. Restaurant Technologies Recycled Almost 400 Million Lbs of UCO in 2025
• Neutral Sentiment: CSR partnership announced — Phillips 66 partnered with Points of Light on a volunteer campaign, which improves ESG/brand perception but has limited direct financial impact. Points of Light Celebrates Global Volunteer Month and Launches Mobilizing Millions Campaign
• Neutral Sentiment: Short-term price action — coverage noting PSX “rises as market takes a dip” highlights momentum today but is more market-noise than a structural driver. Phillips 66 (PSX) Rises As Market Takes a Dip: Key Facts
• Negative Sentiment: Analyst stance remains cautious — Scotiabank raised its target to $151 but kept a “sector perform” rating, implying limited upside and signaling analyst conservatism versus current levels. Benzinga coverage of Scotiabank PT change
• Negative Sentiment: Pre-earnings caution — previews from Zacks/Yahoo suggest Phillips 66 lacks the setup for an earnings beat next week, raising the risk of a disappointing print or guidance that could weigh the stock. Phillips 66 (PSX) May Report Negative Earnings: Know the Trend Ahead of Next Week’s Release

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.