Market Analysts see Phillips 66 [PSX] gaining to $89. Time to buy?

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Phillips 66 [NYSE: PSX] gained 1.81% or 1.61 points to close at $90.79 with a heavy trading volume of 4286714 shares. The company report on May 2, 2022 that Phillips 66 to Host Annual Meeting of Shareholders.

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Phillips 66 (NYSE: PSX) will host its 2022 Annual Meeting of Shareholders on Wednesday, May 11, at 9 a.m. CDT in a virtual-only format.

The meeting can be accessed at virtualshareholdermeeting.com/PSX2022 or the Phillips 66 Investors site at phillips66.com/investors under “Events and Presentations.”.

It opened the trading session at $89.39, the shares rose to $91.25 and dropped to $89.37, the range by which the price of stock traded the whole day. The daily chart for PSX points out that the company has recorded 16.19% gains over the past six months. However, it is still -43.68% lower than its most recent low trading price.

If we look at the average trading volume of 4.59M shares, PSX reached to a volume of 4286714 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 $101.71 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 3.18, with the Price to Sales ratio for PSX stock in the period of the last 12 months amounting to 0.39. The Price to Book ratio for the last quarter was 2.09, with the Price to Cash per share for the same quarter was set at 6.51. Price to Free Cash Flow for PSX in the course of the last twelve months was 29.04 with Quick ratio for the last quarter at 0.90.

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 10.88. With this latest performance, PSX shares gained by 5.62% in over the last four-week period, additionally plugging by 16.19% over the last 6 months – not to mention a rise of 9.35% 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 62.46, with the RSI for the last a single of trading hit 67.11, and the three-weeks RSI is set at 59.63 for Phillips 66 [PSX]. The present Moving Average for the last 50 days of trading for this stock 83.42, while it was recorded at 87.39 for the last single week of trading, and 77.97 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 8.10%.

An analysis of insider ownership at Phillips 66 [PSX]

There are presently around $29,391 million, or 65.50% 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 $2.79 billion in PSX stocks shares; and STATE STREET CORP, currently with $2.64 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 730 institutional holders increased their position in Phillips 66 [NYSE:PSX] by around 26,033,094 shares. Additionally, 576 investors decreased positions by around 20,214,550 shares, while 199 investors held positions by with 283,319,378 shares. The mentioned changes placed institutional holdings at 329,567,022 shares, according to the latest SEC report filing. PSX stock had 193 new institutional investments in for a total of 6,947,048 shares, while 111 institutional investors sold positions of 3,582,258 shares during the same period.