Wolfe Research slashes price target on Phillips 66 [PSX] – find out why.

Phillips 66 [NYSE: PSX] stock went on a downward path that fall over -7.00% on Thursday, amounting to a one-week price increase of more than 13.82%. The company report on October 30, 2020 that Phillips 66 to Host Earnings Call.

Phillips 66 (NYSE:PSX) will be discussing their earnings results in their 2020 Third Quarter Earnings call to be held on October 30, 2020 at 12:00 PM Eastern Time.

To listen to the event live or access a replay of the call – visit https://www.investornetwork.com/event/presentation/70675.

Over the last 12 months, PSX stock dropped by -53.69%. The one-year Phillips 66 stock forecast points to a potential upside of 20.76. The average equity rating for PSX stock is currently 1.70, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $24.73 billion, with 438.92 million shares outstanding and 435.32 million shares in the current float. Compared to the average trading volume of 3.52M shares, PSX stock reached a trading volume of 5064212 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Phillips 66 [PSX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PSX shares is $69.22 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PSX stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wolfe Research have made an estimate for Phillips 66 shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on November 05, 2020. While these analysts kept the previous recommendation, Cowen dropped their target price from $69 to $62. The new note on the price target was released on November 02, 2020, representing the official price target for Phillips 66 stock. Previously, the target price had yet another raise to $73, while Jefferies analysts kept a Buy rating on PSX stock.

The Average True Range (ATR) for Phillips 66 is set at 2.84, with the Price to Sales ratio for PSX stock in the period of the last 12 months amounting to 0.32. The Price to Book ratio for the last quarter was 1.22, with the Price to Cash per share for the same quarter was set at 3.24.

PSX Stock Performance Analysis:

Phillips 66 [PSX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.82. With this latest performance, PSX shares gained by 5.32% in over the last four-week period, additionally sinking by -22.67% over the last 6 months – not to mention a drop of -53.69% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PSX stock in for the last two-week period is set at 55.40, with the RSI for the last a single of trading hit 59.14, and the three-weeks RSI is set at 53.75 for Phillips 66 [PSX]. The present Moving Average for the last 50 days of trading for this stock 52.84, while it was recorded at 55.14 for the last single week of trading, and 64.57 for the last 200 days.

Insight into Phillips 66 Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Phillips 66 [PSX] shares currently have an operating margin of +3.00 and a Gross Margin at +4.95. Phillips 66’s Net Margin is presently recorded at +2.86.

Return on Total Capital for PSX is now 8.22, given the latest momentum, and Return on Invested Capital for the company is 8.45. Return on Equity for this stock inclined to 12.39, with Return on Assets sitting at 5.43. When it comes to the capital structure of this company, Phillips 66 [PSX] has a Total Debt to Total Equity ratio set at 52.28. Additionally, PSX Total Debt to Total Capital is recorded at 34.33, with Total Debt to Total Assets ending up at 22.18. Long-Term Debt to Equity for the company is recorded at 48.26, with the Long-Term Debt to Total Capital now at 31.69.

Reflecting on the efficiency of the workforce at the company, Phillips 66 [PSX] managed to generate an average of $211,724 per employee. Receivables Turnover for the company is 14.64 with a Total Asset Turnover recorded at a value of 1.90.Phillips 66’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.20.

PSX Stock EPS

With the latest financial reports released by the company, Phillips 66 posted 1.54/share EPS, while the average EPS was predicted by analysts to be reported at 1.56/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -1.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PSX.

Phillips 66 [PSX] Insider Position Details

There are presently around $16,050 million, or 69.80% of PSX stock, in the hands of institutional investors. The top three institutional holders of PSX stocks are: VANGUARD GROUP INC with ownership of 38,057,977, which is approximately -2.834% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 30,418,422 shares of the stock with an approximate value of $1.67 billion in PSX stocks shares; and STATE STREET CORP, currently with $1.4 billion in PSX stock with ownership of nearly 0.039% of the company’s market capitalization.

Positions in Phillips 66 stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 436 institutional holders increased their position in Phillips 66 [NYSE:PSX] by around 20,442,799 shares. Additionally, 742 investors decreased positions by around 23,898,155 shares, while 170 investors held positions by with 248,271,112 shares. The mentioned changes placed institutional holdings at 292,612,066 shares, according to the latest SEC report filing. PSX stock had 93 new institutional investments in for a total of 3,536,321 shares, while 191 institutional investors sold positions of 4,403,303 shares during the same period.

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