Phillips 66 [PSX] moved up 1.27: Why It’s Important

Phillips 66 [NYSE: PSX] gained 1.27% or 1.02 points to close at $81.12 with a heavy trading volume of 2808777 shares. The company report on April 23, 2021 that Phillips 66 and Southwest Airlines collaborate to advance sustainable aviation fuel.

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Companies sign memorandum of understanding to increase public awareness, pursue joint research and development and explore a supply agreement.

Phillips 66 (NYSE: PSX) and Southwest Airlines (NYSE: LUV) have signed a memorandum of understanding to advance the commercialization of sustainable aviation fuel, focusing on public awareness and research and development. The memorandum of understanding also sets the framework to explore a future supply agreement involving Phillips 66’s Rodeo Renewed project in California and highlights the commitment by both companies to a sustainable energy future.

It opened the trading session at $81.00, the shares rose to $82.2833 and dropped to $80.375, the range by which the price of stock traded the whole day. The daily chart for PSX points out that the company has recorded 72.34% gains over the past six months. However, it is still -87.47% lower than its most recent low trading price.

If we look at the average trading volume of 2.71M shares, PSX reached to a volume of 2808777 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 $91.47 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 1.90. 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.

Piper Sandler have made an estimate for Phillips 66 shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 01, 2021. The new note on the price target was released on February 22, 2021, representing the official price target for Phillips 66 stock. Previously, the target price had yet another drop from $83 to $80, while Cowen kept a Outperform rating on PSX stock.

The Average True Range (ATR) for Phillips 66 is set at 2.26, with the Price to Sales ratio for PSX stock in the period of the last 12 months amounting to 0.55. The Price to Book ratio for the last quarter was 1.88, with the Price to Cash per share for the same quarter was set at 5.86.

Trading performance analysis for PSX stock

Phillips 66 [PSX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.23. With this latest performance, PSX shares dropped by -1.45% in over the last four-week period, additionally plugging by 72.34% over the last 6 months – not to mention a rise of 10.37% 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 55.34, with the RSI for the last a single of trading hit 61.48, and the three-weeks RSI is set at 53.29 for Phillips 66 [PSX]. The present Moving Average for the last 50 days of trading for this stock 81.96, while it was recorded at 78.46 for the last single week of trading, and 67.23 for the last 200 days.

Phillips 66 [PSX]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Phillips 66 [PSX] shares currently have an operating margin of -2.87 and a Gross Margin at +0.28. Phillips 66’s Net Margin is presently recorded at -6.25.

Return on Total Capital for PSX is now -4.64, given the latest momentum, and Return on Invested Capital for the company is -11.11. Return on Equity for this stock declined to -18.15, with Return on Assets sitting at -7.02. When it comes to the capital structure of this company, Phillips 66 [PSX] has a Total Debt to Total Equity ratio set at 90.15. Additionally, PSX Total Debt to Total Capital is recorded at 47.41, with Total Debt to Total Assets ending up at 31.28. Long-Term Debt to Equity for the company is recorded at 83.01, with the Long-Term Debt to Total Capital now at 43.65.

Reflecting on the efficiency of the workforce at the company, Phillips 66 [PSX] managed to generate an average of -$278,531 per employee. Receivables Turnover for the company is 8.47 with a Total Asset Turnover recorded at a value of 1.12.Phillips 66’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.40.

Phillips 66 [PSX]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Phillips 66 posted 1.02/share EPS, while the average EPS was predicted by analysts to be reported at 0.63/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 61.90%. 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. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Phillips 66 go to -7.75%.

An analysis of insider ownership at Phillips 66 [PSX]

There are presently around $24,442 million, or 69.70% of PSX stock, in the hands of institutional investors. The top three institutional holders of PSX stocks are: VANGUARD GROUP INC with ownership of 42,759,263, which is approximately -3.779% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 32,908,454 shares of the stock with an approximate value of $2.67 billion in PSX stocks shares; and STATE STREET CORP, currently with $2.16 billion in PSX stock with ownership of nearly 4.892% of the company’s market capitalization.

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Positions in Phillips 66 stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 580 institutional holders increased their position in Phillips 66 [NYSE:PSX] by around 27,269,406 shares. Additionally, 600 investors decreased positions by around 20,334,282 shares, while 165 investors held positions by with 253,701,667 shares. The mentioned changes placed institutional holdings at 301,305,355 shares, according to the latest SEC report filing. PSX stock had 189 new institutional investments in for a total of 2,992,675 shares, while 94 institutional investors sold positions of 4,146,640 shares during the same period.

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