Market Analysts see Phillips 66 [PSX] gaining to $132. Time to buy?

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Phillips 66 [NYSE: PSX] loss -2.32% on the last trading session, reaching $85.51 price per share at the time. The company report on July 29, 2022 that Phillips 66 Reports Second-Quarter 2022 Financial Results.


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Reported second-quarter earnings of $3.2 billion or $6.53 per share; adjusted earnings of $3.3 billion or $6.77 per share.

Generated $1.8 billion of operating cash flow; $3.6 billion excluding working capital.

Phillips 66 represents 449.30 million in outstanding shares, while the company has a total market value of $40.83 billion with the latest information. PSX stock price has been found in the range of $84.85 to $89.835.

If compared to the average trading volume of 4.05M shares, PSX reached a trading volume of 3536293 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 $114.99 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 2.00. 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.

BMO Capital Markets have made an estimate for Phillips 66 shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 14, 2022. While these analysts kept the previous recommendation, Citigroup raised their target price to Neutral. The new note on the price target was released on April 26, 2022, representing the official price target for Phillips 66 stock. Previously, the target price had yet another raise from $104 to $105, while Wells Fargo kept a Overweight rating on PSX stock. On January 31, 2022, analysts increased their price target for PSX shares from 100 to 104.

The Average True Range (ATR) for Phillips 66 is set at 3.51, 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 1.76, with the Price to Cash per share for the same quarter was set at 6.98. Price to Free Cash Flow for PSX in the course of the last twelve months was 15.88 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 -3.20. With this latest performance, PSX shares gained by 6.37% in over the last four-week period, additionally sinking by -2.45% over the last 6 months – not to mention a rise of 12.41% 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 47.11, with the RSI for the last a single of trading hit 46.92, and the three-weeks RSI is set at 46.99 for Phillips 66 [PSX]. The present Moving Average for the last 50 days of trading for this stock 91.42, while it was recorded at 87.51 for the last single week of trading, and 84.25 for the last 200 days.

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

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 6.30%.

An analysis of insider ownership at Phillips 66 [PSX]

There are presently around $28,956 million, or 72.00% of PSX stock, in the hands of institutional investors. The top three institutional holders of PSX stocks are: VANGUARD GROUP INC with ownership of 45,933,380, which is approximately 5.872% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 35,037,013 shares of the stock with an approximate value of $3.0 billion in PSX stocks shares; and STATE STREET CORP, currently with $2.72 billion in PSX stock with ownership of nearly 7.451% of the company’s market capitalization.

752 institutional holders increased their position in Phillips 66 [NYSE:PSX] by around 34,260,846 shares. Additionally, 591 investors decreased positions by around 24,182,654 shares, while 227 investors held positions by with 280,186,561 shares. The mentioned changes placed institutional holdings at 338,630,061 shares, according to the latest SEC report filing. PSX stock had 163 new institutional investments in for a total of 3,850,248 shares, while 120 institutional investors sold positions of 6,880,815 shares during the same period.

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