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Why Phillips 66 (PSX) Stock Could See Much Higher Prices Ahead

Phillips 66 (NYSE: PSX) is 27.30% higher on its value in year-to-date trading and has touched a low of $89.74 and a high of $163.85 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 $163.34 in the last trading session, with the day’s gains setting it 6.15%.

Currently trading at $169.49, the stock is 9.59% and 15.01% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.0 million and changing 3.77% at the moment leaves the stock 37.35% off its SMA200. PSX registered 69.51% gain for a year compared to 6-month gain of 41.07%. The firm has a 50-day simple moving average (SMA 50) of $0.60 and a 200-day simple moving average (SMA200) of $7.16.

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The stock witnessed a 17.54% loss in the last 1 month and extending the period to 3 months gives it a 27.30%, and is 8.33% up 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 2.30% over the week and 2.16% over the month.

Phillips 66 (PSX) has around 14000 employees, a market worth around $72.51B and $147.26B in sales. Current P/E ratio is 10.97 and Fwd P/E is 11.87. Profit margin for the company is 4.76%. Distance from 52-week low is 88.87% and 3.44% from its 52-week high. The company has generated returns on investments over the last 12 months (14.22%).

Phillips 66 quarterly earnings per share for the current quarter are estimated at $2.61 with sales reaching $33.94B over the same period.The EPS is expected to shrink by -11.98% this year, but quarterly earnings will post -6.80% year-over-year. Quarterly sales are estimated to shrink -3.30% in year-over-year returns.

Phillips 66 (PSX) Top Institutional Holders

2,186 institutions hold shares in Phillips 66 (PSX), with institutional investors hold 78.63% of the company’s shares. The shares outstanding are 430.46M, and float is at 426.92M with Short Float at 2.04%. Institutions hold 78.31% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 41.35 million shares valued at $3.94 billion. The investor’s holdings represent 9.29% of the PSX Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 36.74 million shares valued at $3.5 billion to account for 8.25% of the shares outstanding. The other top investors are State Street Corporation which holds 31.21 million shares representing 7.01% and valued at over $2.98 billion, while Wells Fargo & Company holds 3.84% of the shares totaling 17.12 million with a market value of $1.63 billion.

Phillips 66 (PSX) Insider Activity

The most recent transaction is an insider sale by Pruitt Joseph Scott,the company’sVice President and Controller. SEC filings show that Pruitt Joseph Scott sold 7,200 shares of the company’s common stock on Mar 20 ’24 at a price of $157.26 per share for a total of $1.13 million. Following the sale, the insider now owns 6583.0 shares.

Phillips 66 disclosed in a document filed with the SEC on Mar 18 ’24 that Pruitt Joseph Scott (Vice President and Controller) sold a total of 5,922 shares of the company’s common stock. The trade occurred on Mar 18 ’24 and was made at $157.40 per share for $0.93 million. Following the transaction, the insider now directly holds 6583.0 shares of the PSX stock.

Still, SEC filings show that on Feb 15 ’24, Pease Robert W (Director) acquired 682 shares at an average price of $146.58 for $99968.0. The insider now directly holds 1,900 shares of Phillips 66 (PSX).

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