Take off with Phillips 66 (PSX): Get ready for trading

Phillips 66 (NYSE: PSX) stock fell -0.16% on Thursday to $122.97 against a previous-day closing price of $123.17. With 2.53 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.08 million shares. During the session, the Oil & Gas Refining & Marketing company that operates in wider Energy sector, reached to the highest price of $124.00 whereas the lowest price it dropped to was $122.70. The 52-week range on PSX shows that it touched its highest point at $125.19 and its lowest point at $74.02 during that stretch. It currently has a 1-year price target of $128.52. With its current market cap of 53.20 billion, PSX has annualized dividend of $4.20 while the current yield stands at 3.42%. Beta for the stock currently stands at 1.36.

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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 3.55%, but this was up by 8.41% over a month. Three-month performance surged to 28.50% while six-month performance rose 31.31%. The stock gained 42.72% in the past year, while it has gained 18.15% so far this year. A look at the trailing 12-month EPS for PSX yields 23.03 with Next year EPS estimates of 13.19. For the next quarter, that number is 4.96. This implies an EPS growth rate of 683.90% for this year and -18.25% for next year. EPS is expected to decline by -13.90% 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, 454.45 million PSX shares are outstanding with a float of 442.98 million shares on hand for trading. On Aug 30, 2023, short shares totaled 9.6 million, which was 2.16% higher than short shares on Jul 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 72.90% of PSX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 36.27% of PSX, in contrast to 35.60% held by mutual funds. Shares owned by individuals account for 10.61%. As the largest shareholder in PSX with 8.59% of the stake, The Vanguard Group, Inc. holds 39,414,832 shares worth 39,414,832. A second-largest stockholder of PSX, SSgA Funds Management, Inc., holds 31,213,866 shares, controlling over 6.80% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in PSX, holding 24,849,504 shares or 5.42% stake. With a 3.13% stake in PSX, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 14,347,204 shares are owned by the mutual fund manager. The SPDR Series – Energy Select Secto, which owns about 2.67% of PSX stock, is the second-largest Mutual Fund holder. It holds 12,237,712 shares valued at 1.37 billion. Vanguard 500 Index Fund holds 2.39% of the stake in PSX, owning 10,987,151 shares worth 1.23 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 Jun 29, 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 $144.00 and a low target of $115.00, the average target price over the next 12 months is $128.92. Based on these targets, PSX could surge 17.1% to reach the target high and fall by -6.48% to reach the target low. Reaching the average price target will result in a growth of 4.84% 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 4 Buys and 4 Sells. In these transactions, 172,619 shares were bought while 176,267 shares were sold. The number of buy transactions has increased to 37 while that of sell transactions has risen to 16 over the past year. The total number of shares bought during that period was 310,298 while 209,171 shares were sold.

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