Market Analysts see Phillips 66 [PSX] gaining to $105. Time to buy?

Phillips 66 [NYSE: PSX] price plunged by -2.73 percent to reach at -$2.82. The company report on December 22, 2022 that Phillips 66 to Speak at Goldman Sachs Global Energy and Clean Technology Conference.


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Mark Lashier, President and CEO of Phillips 66 (NYSE: PSX), and other Executive Leadership Team members will participate in a fireside chat at the Goldman Sachs Global Energy and Clean Technology Conference on Thursday, Jan. 5, 2023, at 11 a.m. ET.

Phillips 66 leaders will discuss the company’s plans to continue delivering shareholder value and advancing strategic initiatives, as well as its ongoing commitment to disciplined capital allocation.

A sum of 2287627 shares traded at recent session while its average daily volume was at 3.48M shares. Phillips 66 shares reached a high of $103.49 and dropped to a low of $98.97 until finishing in the latest session at $100.53.

The one-year PSX stock forecast points to a potential upside of 18.31. The average equity rating for PSX stock is currently 2.30, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $123.07 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 3.08, with the Price to Sales ratio for PSX stock in the period of the last 12 months amounting to 0.30. The Price to Book ratio for the last quarter was 1.71, with the Price to Cash per share for the same quarter was set at 7.86. Price to Free Cash Flow for PSX in the course of the last twelve months was 11.84 with Quick ratio for the last quarter at 1.10.

PSX Stock Performance Analysis:

Phillips 66 [PSX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.93. With this latest performance, PSX shares dropped by -10.47% in over the last four-week period, additionally plugging by 19.39% over the last 6 months – not to mention a rise of 40.37% 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 42.93, with the RSI for the last a single of trading hit 39.87, and the three-weeks RSI is set at 46.31 for Phillips 66 [PSX]. The present Moving Average for the last 50 days of trading for this stock 103.95, while it was recorded at 101.55 for the last single week of trading, and 92.05 for the last 200 days.

Insight into Phillips 66 Fundamentals:

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 1.10 and a Current Ratio set at 1.30.

PSX Stock EPS

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 29.20%.

Phillips 66 [PSX] Insider Position Details

There are presently around $34,289 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 50,644,106, which is approximately 1.945% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 35,325,109 shares of the stock with an approximate value of $3.55 billion in PSX stocks shares; and STATE STREET CORP, currently with $3.32 billion in PSX stock with ownership of nearly 1.056% 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 703 institutional holders increased their position in Phillips 66 [NYSE:PSX] by around 14,354,366 shares. Additionally, 574 investors decreased positions by around 23,055,844 shares, while 258 investors held positions by with 303,669,445 shares. The mentioned changes placed institutional holdings at 341,079,655 shares, according to the latest SEC report filing. PSX stock had 94 new institutional investments in for a total of 2,332,403 shares, while 104 institutional investors sold positions of 6,654,073 shares during the same period.

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