Phillips 66 [PSX] stock Initiated by Jefferies analyst, price target now $105

Phillips 66 [NYSE: PSX] jumped around 1.84 points on Wednesday, while shares priced at $97.95 at the close of the session, up 1.91%. The company report on October 17, 2022 that Phillips 66 and FreeWire Technologies Bring Ultrafast Charging to EV Drivers.

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Phillips 66 debuts EV charging program in the U.S. with installation of first ultrafast chargers at a Houston fuel station.

Phillips 66 (NYSE: PSX) announced the installation of FreeWire ultrafast electric-vehicle chargers at its flagship fuel station near its headquarters in Houston, marking the debut of ultrafast EV charging at a convenience fuel station in the city.

Compared to the average trading volume of 3.30M shares, PSX reached a trading volume of 3325182 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $112.61 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 2.20. 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.

Jefferies have made an estimate for Phillips 66 shares, keeping their opinion on the stock as Hold, with their previous recommendation back on October 19, 2022. The new note on the price target was released on September 15, 2022, representing the official price target for Phillips 66 stock. Previously, the target price had yet another raise to $132, while BMO Capital Markets analysts kept a Outperform rating on PSX stock.

The Average True Range (ATR) for Phillips 66 is set at 3.71, with the Price to Sales ratio for PSX stock in the period of the last 12 months amounting to 0.33. The Price to Book ratio for the last quarter was 1.95, with the Price to Cash per share for the same quarter was set at 5.67. Price to Free Cash Flow for PSX in the course of the last twelve months was 14.45 with Quick ratio for the last quarter at 1.00.

How has PSX stock performed recently?

Phillips 66 [PSX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.39. With this latest performance, PSX shares gained by 17.70% in over the last four-week period, additionally plugging by 10.22% over the last 6 months – not to mention a rise of 18.33% 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 65.75, with the RSI for the last a single of trading hit 70.32, and the three-weeks RSI is set at 62.15 for Phillips 66 [PSX]. The present Moving Average for the last 50 days of trading for this stock 87.85, while it was recorded at 96.10 for the last single week of trading, and 87.70 for the last 200 days.

Phillips 66 [PSX]: Deeper insight into the fundamentals

Phillips 66’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.30.

Earnings analysis for Phillips 66 [PSX]

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%.

Insider trade positions for Phillips 66 [PSX]

There are presently around $34,307 million, or 73.50% of PSX stock, in the hands of institutional investors. The top three institutional holders of PSX stocks are: VANGUARD GROUP INC with ownership of 49,677,981, which is approximately 8.152% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 37,755,681 shares of the stock with an approximate value of $3.7 billion in PSX stocks shares; and STATE STREET CORP, currently with $3.2 billion in PSX stock with ownership of nearly 2.685% of the company’s market capitalization.

744 institutional holders increased their position in Phillips 66 [NYSE:PSX] by around 31,229,023 shares. Additionally, 559 investors decreased positions by around 18,776,305 shares, while 255 investors held positions by with 300,243,475 shares. The mentioned changes placed institutional holdings at 350,248,803 shares, according to the latest SEC report filing. PSX stock had 124 new institutional investments in for a total of 2,245,576 shares, while 110 institutional investors sold positions of 3,864,059 shares during the same period.


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