Phillips 66 [PSX] Revenue clocked in at $111.48 billion, up 13.00% YTD: What’s Next?


Phillips 66 [NYSE: PSX] gained 1.06% on the last trading session, reaching $81.88 price per share at the time. The company report on April 20, 2022 that Phillips 66 Announces Successful Results of Early Exchange Offer Period in Exchange Offers and Consent Solicitations.

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Phillips 66 (NYSE: PSX) announced today that, in connection with the previously announced offers to exchange (collectively, the “Exchange Offers”) any and all validly tendered (and not validly withdrawn) and accepted notes of the seven series of notes described in the table below (collectively, the “Old Notes”) issued by Phillips 66 Partners LP (“PSXP”) for notes to be issued by Phillips 66 Company (“P66 Co”), a wholly owned subsidiary of Phillips 66 (collectively, the “New Notes”), and the related consent solicitations (the “Consent Solicitations”) to certain proposed amendments to the corresponding indenture and to supplemental indentures pursuant to which such Old Notes were issued (the “Indenture Amendments”), as of 5:00 p.m., New York City time, on April 19, 2022 (the “Early Participation Date”), P66 Co has received the requisite number of consents to adopt the Indenture Amendments with respect to each of the seven series of Old Notes that are subject to the Exchange Offers and Consent Solicitations.

P66 Co intends to enter into a supplemental indenture with the respective trustee for the Old Notes to effectuate the Indenture Amendments with effect from the settlement date of the Exchange Offers.

Phillips 66 represents 440.47 million in outstanding shares, while the company has a total market value of $41.86 billion with the latest information. PSX stock price has been found in the range of $81.05 to $83.44.

If compared to the average trading volume of 4.55M shares, PSX reached a trading volume of 4842507 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 $102.31 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.

Citigroup have made an estimate for Phillips 66 shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 26, 2022. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $104 to $105. The new note on the price target was released on January 31, 2022, representing the official price target for Phillips 66 stock. Previously, the target price had yet another raise from $100 to $104, while Raymond James kept a Outperform rating on PSX stock. On January 31, 2022, analysts increased their price target for PSX shares from 97 to 104.

The Average True Range (ATR) for Phillips 66 is set at 2.98, with the Price to Sales ratio for PSX stock in the period of the last 12 months amounting to 0.38. 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 6.16. Price to Free Cash Flow for PSX in the course of the last twelve months was 16.28 with Quick ratio for the last quarter at 0.90.

Trading performance analysis for PSX stock

Phillips 66 [PSX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.57. With this latest performance, PSX shares dropped by -2.35% in over the last four-week period, additionally sinking by -2.21% over the last 6 months – not to mention a rise of 4.84% 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 45.15, with the RSI for the last a single of trading hit 41.76, and the three-weeks RSI is set at 46.95 for Phillips 66 [PSX]. The present Moving Average for the last 50 days of trading for this stock 83.47, while it was recorded at 84.27 for the last single week of trading, and 77.69 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 +1.09 and a Gross Margin at +3.02. Phillips 66’s Net Margin is presently recorded at +1.17.

Return on Equity for this stock inclined to 6.85, with Return on Assets sitting at 2.37.

Phillips 66’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.10.

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

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 10.55%.

An analysis of insider ownership at Phillips 66 [PSX]

There are presently around $26,677 million, or 65.40% of PSX stock, in the hands of institutional investors. The top three institutional holders of PSX stocks are: VANGUARD GROUP INC with ownership of 43,385,615, which is approximately 0.477% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 31,312,530 shares of the stock with an approximate value of $2.54 billion in PSX stocks shares; and STATE STREET CORP, currently with $2.4 billion in PSX stock with ownership of nearly -0.968% of the company’s market capitalization.

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 719 institutional holders increased their position in Phillips 66 [NYSE:PSX] by around 25,782,730 shares. Additionally, 569 investors decreased positions by around 20,051,218 shares, while 206 investors held positions by with 283,434,443 shares. The mentioned changes placed institutional holdings at 329,268,391 shares, according to the latest SEC report filing. PSX stock had 202 new institutional investments in for a total of 7,006,336 shares, while 104 institutional investors sold positions of 3,596,765 shares during the same period.