Phillips 66 [NYSE: PSX] jumped around 3.22 points on Wednesday, while shares priced at $172.71 at the close of the session, up 1.90%. The company report on April 3, 2024 at 11:00 AM that Phillips 66 Announces Increase in Quarterly Dividend.
The board of directors of Phillips 66 (NYSE: PSX) has declared a quarterly dividend of $1.15 per share on Phillips 66 common stock, representing a 10% increase. The dividend is payable on June 3, 2024, to shareholders of record as of the close of business on May 20, 2024.
“The dividend increase reflects the confidence we have in our growing mid-cycle cash flow generation and disciplined approach to capital allocation, including a secure, competitive and growing dividend,” said Mark Lashier, president and CEO of Phillips 66.
Compared to the average trading volume of 3.18M shares, PSX reached a trading volume of 3210300 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 $160.20 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 1.86. 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 Buy, with their previous recommendation back on January 24, 2024. While these analysts kept the previous recommendation, TD Cowen raised their target price from $134 to $150. The new note on the price target was released on December 04, 2023, representing the official price target for Phillips 66 stock. Previously, the target price had yet another raise to $146, while Wolfe Research analysts kept a Outperform rating on PSX stock. On October 30, 2023, analysts increased their price target for PSX shares from 115 to 130.
The Average True Range (ATR) for Phillips 66 is set at 3.57, with the Price to Sales ratio for PSX stock in the period of the last 12 months amounting to 0.50. The Price to Book ratio for the last quarter was 2.43, with the Price to Cash per share for the same quarter was set at 7.77. Price to Free Cash Flow for PSX in the course of the last twelve months was 16.02 with Quick ratio for the last quarter at 1.02.
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 10.29. With this latest performance, PSX shares gained by 19.72% in over the last four-week period, additionally plugging by 45.11% over the last 6 months – not to mention a rise of 70.36% 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 81.77, with the RSI for the last a single of trading hit 86.54, and the three-weeks RSI is set at 78.00 for Phillips 66 [PSX]. The present Moving Average for the last 50 days of trading for this stock 149.04, while it was recorded at 165.57 for the last single week of trading, and 124.15 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 1.02 and a Current Ratio set at 1.26.
Earnings analysis for Phillips 66 [PSX]
With the latest financial reports released by the company, Phillips 66 posted 4.21/share EPS, while the average EPS was predicted by analysts to be reported at 3.56/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 18.30%. 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 -11.10%.
Insider trade positions for Phillips 66 [PSX]
The top three institutional holders of PSX stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in PSX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in PSX stock with ownership which is approximately 5.8386%.
