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Phillips 66 (PSX) 2021 Stock Forecast: Bullish Outlook with 27.38% Upside

Phillips 66 (NYSE: PSX) is 17.33% higher on its value in year-to-date trading and has touched a low of $43.27 and a high of $90.59 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The PSX stock was last observed hovering at around $83.16 in the last trading session, with the day’s loss setting it -1.1% off its average median price target of $92.00 for the next 12 months. It is also 27.38% off the consensus price target high of $113.00 offered by 20 analysts, but current levels are -10.89% lower than the price target low of $74.00 for the same period.

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Currently trading at $82.06, the stock is -2.65% and 2.57% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.05 million and changing -1.32% at the moment leaves the stock 23.83% off its SMA200. PSX registered 58.66% gain for a year compared to 6-month gain of 63.21%. The firm has a 50-day simple moving average (SMA 50) of $83.87 and a 200-day simple moving average (SMA200) of $67.51.

The stock witnessed a -2.78% loss in the last 1 month and extending the period to 3 months gives it a 17.33%, and is -2.67% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.49% over the week and 3.15% over the month.

Phillips 66 (PSX) has around 14300 employees, a market worth around $35.16B and $63.45B in sales. Fwd P/E is 12.67. Profit margin for the company is -6.30%. Distance from 52-week low is 89.65% and -9.42% from its 52-week high. The company has generated returns on investments over the last 12 months (-13.10%).

Phillips 66 (PSX) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Phillips 66 (PSX) is a “Overweight”. 20 analysts offering their recommendations for the stock have an average rating of 1.90, where 4 rate it as a Hold and 2 think it is a “Overweight”. 14 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Phillips 66 is expected to release its quarterly report on 07/23/2021 and quarterly earnings per share for the current quarter are estimated at -$0.27 with sales reaching $17.82B over the same period.The EPS is expected to shrink by -232.00% this year, but quarterly earnings will post 25.60% year-over-year. Quarterly sales are estimated to shrink -16.10% in year-over-year returns.

Phillips 66 (PSX) Top Institutional Holders

1,540 institutions hold shares in Phillips 66 (PSX), with 1.55M shares held by insiders accounting for 0.35% while institutional investors hold 69.89% of the company’s shares. The shares outstanding are 439.11M, and float is at 435.25M with Short Float at 2.44%. Institutions hold 69.64% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 42.76 million shares valued at $2.99 billion. The investor’s holdings represent 9.79% of the PSX Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 32.91 million shares valued at $2.3 billion to account for 7.53% of the shares outstanding. The other top investors are State Street Corporation which holds 26.68 million shares representing 6.11% and valued at over $1.87 billion, while Wells Fargo & Company holds 3.52% of the shares totaling 15.4 million with a market value of $1.08 billion.

Phillips 66 (PSX) Insider Activity

A total of 36 insider transactions have happened at Phillips 66 (PSX) in the last six months, with sales accounting for 12 and purchases happening 24 times. The most recent transaction is an insider sale by Garland Greg C. ,the company’sChairman and CEO. SEC filings show that Garland Greg C. sold 158,500 shares of the company’s common stock on Mar 11 at a price of $88.50 per share for a total of $14.03 million. Following the sale, the insider now owns 0.62 million shares.

Phillips 66 disclosed in a document filed with the SEC on Mar 08 that Mandell Brian (Executive Vice President) sold a total of 1 shares of the company’s common stock. The trade occurred on Mar 08 and was made at $87.35 per share for $61.0. Following the transaction, the insider now directly holds 32203.0 shares of the PSX stock.

Still, SEC filings show that on Feb 10, HOLLEY CHARLES M (Director) acquired 77 shares at an average price of $76.32 for $5877.0. The insider now directly holds 5,853 shares of Phillips 66 (PSX).

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Phillips 66 (PSX): Who are the competitors?

The company’s main competitors (and peers) include Valero Energy Corporation (VLO) that is trading 79.81% up over the past 12 months and HollyFrontier Corporation (HFC) that is 61.25% higher over the same period. Exxon Mobil Corporation (XOM) is 39.85% up on the 1-year trading charts. Short interest in the company’s stock has fallen -10.35% from the last report on Feb 11, 2021 to stand at a total of 11.73 million short shares sold with a short interest ratio of 3.79.

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