Phillips 66 (NYSE: PSX) stock jumped 0.96% on Wednesday to $96.56 against a previous-day closing price of $95.64. With 2.78 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.83 million shares. The 52-week range on PSX shows that it touched its highest point at $113.53 and its lowest point at $74.02 during that stretch. It currently has a 1-year price target of $121.21. With its current market cap of 44.93 billion, PSX has annualized dividend of $4.20 while the current yield stands at 4.35%. Beta for the stock currently stands at 1.37.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PSX was up-trending over the past week, with a rise of 1.87%, but this was down by -2.78% over a month. Three-month performance dropped to -3.78% while six-month performance fell -11.44%. The stock gained 1.56% in the past year, while it has lost -7.23% so far this year. A look at the trailing 12-month EPS for PSX yields 25.84 with Next year EPS estimates of 11.52. For the next quarter, that number is 3.63. This implies an EPS growth rate of 683.90% for this year and -17.23% for next year. EPS is expected to grow by 30.30% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 38.30%.
Float and Shares Shorts:
At present, 464.81 million PSX shares are outstanding with a float of 458.56 million shares on hand for trading. On Apr 27, 2023, short shares totaled 10.02 million, which was 2.18% higher than short shares on Mar 30, 2023. In addition to Mr. Greg C. Garland as the firm’s Exec. Chairman, Mr. Mark E. Lashier serves as its Pres, CEO & Director.
Institutional Ownership:
Through their ownership of 74.78% of PSX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 38.83% of PSX, in contrast to 33.61% held by mutual funds. Shares owned by individuals account for 10.15%. As the largest shareholder in PSX with 8.69% of the stake, The Vanguard Group, Inc. holds 40,317,101 shares worth 40,317,101. A second-largest stockholder of PSX, SSgA Funds Management, Inc., holds 32,353,890 shares, controlling over 6.97% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in PSX, holding 25,965,120 shares or 5.60% stake. With a 3.11% stake in PSX, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 14,414,730 shares are owned by the mutual fund manager. The SPDR Series – Energy Select Secto, which owns about 2.80% of PSX stock, is the second-largest Mutual Fund holder. It holds 13,004,259 shares valued at 1.29 billion. RBC Global Resources Fund holds 2.50% of the stake in PSX, owning 11,600,000 shares worth 1.15 billion.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, PSX reported revenue of $48.58B and operating income of $3.54B. The EBITDA in the recently reported quarter was $4.63B and diluted EPS was $6.53.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PSX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With PSX analysts setting a high price target of $139.00 and a low target of $101.00, the average target price over the next 12 months is $120.69. Based on these targets, PSX could surge 43.95% to reach the target high and rise by 4.6% to reach the target low. Reaching the average price target will result in a growth of 24.99% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded PSX stock several times over the past three months with 3 Buys and 0 Sells. In these transactions, 332 shares were bought while 0 shares were sold. The number of buy transactions has increased to 44 while that of sell transactions has risen to 24 over the past year. The total number of shares bought during that period was 442,372 while 333,340 shares were sold.
