Phillips 66 (PSX) on Focus After Trading At 52-Week Highs

April 23, 2018 - By Migdalia James

Phillips 66 (NYSE:PSX) Logo

Investors sentiment increased to 1.01 in Q4 2017. 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.
Alps Advsr Incorporated accumulated 2,775 shares. Moreover, Whittier Trust Co has 0.02% invested in Phillips 66 (NYSE:PSX). 9,385 were accumulated by Trexquant Investment L P. Credit Agricole S A stated it has 38,204 shares. Caprock Grp has 6,087 shares for 0.12% of their portfolio. 2,230 were reported by Diversified. Tci Wealth accumulated 2,779 shares. State Of Alaska Department Of Revenue stated it has 99,076 shares or 0.24% of all its holdings. Jacobs Ca holds 0.07% or 3,918 shares. First Mercantile Co stated it has 0.14% in Phillips 66 (NYSE:PSX). Somerset Gp Ltd reported 0.35% in Phillips 66 (NYSE:PSX). Scotia has invested 0.01% in Phillips 66 (NYSE:PSX). Old Mutual Global Invsts (Uk) Ltd holds 0% or 4,600 shares. Neuberger Berman Gp Ltd Company holds 1.48M shares. Teachers & Annuity Association Of America holds 0.03% or 5,396 shares.

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

The stock of Phillips 66 (NYSE:PSX) hit a new 52-week high and has $116.41 target or 5.00 % above today’s $110.87 share price. The 6 months bullish chart indicates low risk for the $51.70 billion company. The 1-year high was reported on Apr, 23 by Barchart.com. If the $116.41 price target is reached, the company will be worth $2.59 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock decreased 0.11% or $0.12 during the last trading session, reaching $110.87. About 703,872 shares traded. Phillips 66 (NYSE:PSX) has risen 23.90% since April 23, 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 earnings per share, up 50.00 % or $0.28 from last year’s $0.56 per share. PSX’s profit will be $391.71M for 33.00 P/E if the $0.84 EPS becomes a reality. After $1.07 actual earnings per share 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 has $137.0 highest and $79.0 lowest target. $104.91’s average target is -5.38% below currents $110.87 stock price. Phillips 66 had 23 analyst reports since October 30, 2017 according to SRatingsIntel. UBS maintained the stock with “Neutral” rating in Wednesday, November 15 report. As per Monday, October 30, the company rating was maintained by JP Morgan. The firm has “Hold” rating by RBC Capital Markets given on Tuesday, January 30. Cowen & Co maintained it with “Buy” rating and $125.0 target in Friday, February 2 report. The rating was maintained by Cowen & Co with “Buy” on Wednesday, February 14. The firm has “Equal-Weight” rating by Morgan Stanley given on Thursday, January 11. The firm has “Neutral” rating given on Monday, April 9 by JP Morgan. Citigroup maintained the shares of PSX in report on Wednesday, January 24 with “Neutral” rating. As per Monday, November 13, the company rating was maintained by Piper Jaffray. The rating was maintained by Jefferies on Wednesday, December 20 with “Sell”.

Phillips 66 operates as an energy manufacturing and logistics company. The company has market cap of $51.70 billion. It operates through four divisions: Midstream, Chemicals, Refining, and Marketing and Specialties . It has a 11.26 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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