Is Phillips 66 (PSX) a Buy? The Stock Reaches All-Time High Today

April 21, 2018 - By Louis Casey

Phillips 66 (NYSE:PSX) Logo

Investors sentiment increased to 1.01 in 2017 Q4. Its up 0.09, from 0.92 in 2017Q3. It is positive, as 34 investors sold Phillips 66 shares while 372 reduced holdings. 125 funds opened positions while 284 raised stakes. 351.44 million shares or 0.51% less from 353.24 million shares in 2017Q3 were reported.
Mercer Capital Advisers reported 4,152 shares. Tiemann Inv Advisors Ltd reported 0.31% in Phillips 66 (NYSE:PSX). Canada Pension Plan Board holds 0.01% or 34,910 shares in its portfolio. Ngam Advsrs Lp has 59,266 shares for 0.06% of their portfolio. Moreover, Main Street Ltd Liability has 1.84% invested in Phillips 66 (NYSE:PSX). The Ohio-based Lenox Wealth Mngmt has invested 0.01% in Phillips 66 (NYSE:PSX). Leavell Invest Management invested in 0.19% or 16,034 shares. Johnson Fincl Group Inc Inc reported 0.36% stake. University Of Texas Inv Managment Company holds 1,547 shares or 0.6% of its portfolio. Barnett & holds 0.1% or 2,025 shares in its portfolio. Shine Advisory Inc reported 36 shares. Fiduciary Finance Svcs Of The Southwest Incorporated Tx owns 8,336 shares. San Francisco Sentry Grp (Ca) owns 18,959 shares. Umb Retail Bank N A Mo invested in 0.11% or 33,777 shares. Texas Permanent School Fund holds 117,296 shares.

Since December 15, 2017, it had 0 buys, and 1 sale for $270,675 activity.

The stock of Phillips 66 (NYSE:PSX) reached all time high today, Apr, 21 and still has $118.76 target or 7.00 % above today’s $110.99 share price. This indicates more upside for the $51.76 billion company. This technical setup was reported by Barchart.com. If the $118.76 PT is reached, the company will be worth $3.62B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events.

The stock increased 0.32% or $0.35 during the last trading session, reaching $110.99. About 3.16 million shares traded or 35.26% up from the average. Phillips 66 (NYSE:PSX) has risen 23.90% since April 21, 2017 and is uptrending. It has outperformed by 12.35% the S&P500.

Analysts await Phillips 66 (NYSE:PSX) to report earnings on April, 27 before the open. They expect $0.84 EPS, up 50.00 % or $0.28 from last year’s $0.56 per share. PSX’s profit will be $391.71 million for 33.03 P/E if the $0.84 EPS becomes a reality. After $1.07 actual EPS reported by Phillips 66 for the previous quarter, Wall Street now forecasts -21.50 % negative EPS growth.

Phillips 66 (NYSE:PSX) Ratings Coverage

Among 13 analysts covering Phillips 66 (NYSE:PSX), 4 have Buy rating, 2 Sell and 7 Hold. Therefore 31% are positive. Phillips 66 had 23 analyst reports since October 30, 2017 according to SRatingsIntel. The firm has “Neutral” rating given on Tuesday, February 6 by Citigroup. Barclays Capital downgraded the shares of PSX in report on Tuesday, November 14 to “Underweight” rating. Jefferies maintained it with “Sell” rating and $79.0 target in Wednesday, December 20 report. JP Morgan maintained the stock with “Neutral” rating in Monday, October 30 report. The stock of Phillips 66 (NYSE:PSX) has “Sell” rating given on Wednesday, January 24 by Jefferies. JP Morgan maintained Phillips 66 (NYSE:PSX) rating on Monday, April 9. JP Morgan has “Neutral” rating and $109 target. The stock has “Equal-Weight” rating by Morgan Stanley on Thursday, January 11. The firm earned “Hold” rating on Wednesday, December 20 by RBC Capital Markets. The firm has “Neutral” rating by UBS given on Wednesday, November 15. Scotia Capital maintained the stock with “Buy” rating in Wednesday, January 10 report.

Phillips 66 operates as an energy manufacturing and logistics company. The company has market cap of $51.76 billion. It operates through four divisions: Midstream, Chemicals, Refining, and Marketing and Specialties . It has a 11.27 P/E ratio. The Midstream segment gathers, processes, transports, and markets natural gas; transports, stores, fractionates, and markets natural gas liquids in the United States; and stores, refrigerates, and exports liquefied petroleum gas (LPG) primarily to Asia and Europe.

Phillips 66 (NYSE:PSX) Institutional Positions Chart

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