why Phillips 66 [PSX] is a Good Choice for Investors After New Price Target of $115.14

Phillips 66 [NYSE: PSX] loss -0.97% on the last trading session, reaching $104.09 price per share at the time. The company report on November 9, 2022 that Phillips 66 Outlines Plans to Increase Shareholder Distributions.

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Return $10 billion – $12 billion to shareholders by end of 2024.

Phillips 66 represents 483.09 million in outstanding shares, while the company has a total market value of $48.63 billion with the latest information. PSX stock price has been found in the range of $103.23 to $108.51.

If compared to the average trading volume of 3.40M shares, PSX reached a trading volume of 4641039 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 $115.14 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 2.30. 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 3.44, 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 2.07, with the Price to Cash per share for the same quarter was set at 6.01. Price to Free Cash Flow for PSX in the course of the last twelve months was 14.35 with Quick ratio for the last quarter at 1.00.

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 0.82. With this latest performance, PSX shares gained by 15.22% in over the last four-week period, additionally plugging by 14.13% over the last 6 months – not to mention a rise of 31.48% 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 63.30, with the RSI for the last a single of trading hit 61.32, and the three-weeks RSI is set at 62.50 for Phillips 66 [PSX]. The present Moving Average for the last 50 days of trading for this stock 91.73, while it was recorded at 104.25 for the last single week of trading, and 89.10 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 1.00 and a Current Ratio set at 1.30.

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 $36,484 million, or 73.70% of PSX stock, in the hands of institutional investors. The top three institutional holders of PSX stocks are: VANGUARD GROUP INC with ownership of 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 $3.93 billion in PSX stocks shares; and STATE STREET CORP, currently with $3.4 billion in PSX stock with ownership of nearly 2.685% of the company’s market capitalization.

Positions in Phillips 66 stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 742 institutional holders increased their position in Phillips 66 [NYSE:PSX] by around 29,906,975 shares. Additionally, 548 investors decreased positions by around 18,762,043 shares, while 250 investors held positions by with 301,830,776 shares. The mentioned changes placed institutional holdings at 350,499,794 shares, according to the latest SEC report filing. PSX stock had 102 new institutional investments in for a total of 2,299,513 shares, while 101 institutional investors sold positions of 3,767,014 shares during the same period.


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