Barclays Bank Plc has recently announced that it has increased stake in Phillips 66 (NYSE:PSX) by 4.54%. After grabbing 6.25 million shares, the institutional investor is now in possession of 0.27 million shares of the Energy Company. The new investment brought the stake of investor firm to 1.42% having worth around $804.94 million. Moreover, Northern Trust Investments, Inc. increased its share by 0.24 million to have a control over 4.52 million shares.
Phillips 66 (PSX) concluded trading on 01/04/24 at a closing price of $135.28, with 3.13 million shares of worth about $422.76 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 41.80% during that period and on Thursday the price saw a loss of about -0.35%. Currently the company’s common shares owned by public are about 465.84M shares, out of which, 438.70M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 20 analysts are covering the PSX stock and their offered price forecasts bring an average price target of $137.58. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $151.00 and could fall to a lowest price of $123.80. The stock’s current price level is 0.92% above of average price target set by the analysts, while a rise to estimated low would result in loss of -9.27% for the stock. However, touching the estimated high of $151.00 would mean a gain of 10.41% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 58 times over the past 12 months. They bought 512,333 shares in 40 of the transactions. In 18 selling transactions, insiders dumped 392,619 shares.
Vanguard Total Stock Market ETF, SPDR Series – Energy Select Secto, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in Phillips 66 Vanguard Total Stock Market ETF is currently holding 13.95 million shares of worth totaling $1.8 billion. The company recently came buying 16911.0 shares which brought its stake up to 3.17% of the company’s outstanding shares. SPDR Series – Energy Select Secto sold -0.14 million shares, after which its hold over company’s outstanding shares shrunk to 2.85%, leaving 12.54 million shares with the mutual fund that have a worth of about $1.62 billion. Vanguard 500 Index Fund, after buying 10.75 million shares, have now control over 2.44% of the stake in the company. It holds 47350.0 shares of worth $1.39 billion.
Phillips 66 (NYSE: PSX) started trading at $136.39, above $0.64 from concluding price of the previous day. However, the stock later moved at a day high price of 138.06, or with a loss of -0.35%. Stock saw a price change of 0.43% in past 5 days and over the past one month there was a price change of 5.33%. Year-to-date (YTD), PSX shares are showing a performance of 1.61% which increased to 33.90% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $89.74 but also hit the highest price of $136.69 during that period. The average intraday trading volume for Phillips 66 shares is 3.13 million. The stock is currently trading 3.45% above its 20-day simple moving average (SMA20), while that difference is up 10.73% for SMA50 and it goes to 23.73% higher than SMA200.
Barclays Bank Plc acquired 6.25 million shares of Phillips 66 having value of about $804.94 million. Data submitted at the U.S SEC by Barclays Bank Plc revealed that the firm now holds 0.27 million shares in the company valued at close to $36703763.76, or have control over 4.54% stake in the company. Phillips 66 (NYSE: PSX) currently have 465.84M outstanding shares and institutions hold larger chunk of about 73.73% of that. Holding of mutual funds in the company is about 36.57% while other institutional holders and individual stake holders have control over 37.71% and 10.75% of the stake respectively.
The stock has a current market capitalization of $59.52B and its 3Y-monthly beta is at 1.36. PE ratio of stock for trailing 12 months is 8.16, while it has posted earnings per share of $16.58 in the same period. It has Quick Ratio of 0.96 while making debt-to-equity ratio of 0.63. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PSX, volatility over the week remained 1.60% while standing at 1.94% over the month.
Analysts are in expectations that Phillips 66 (PSX) stock would likely to be making an EPS of $2.71 in the current quarter, while forecast for next quarter EPS is $2.72 and it is $13.12 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.96 which is $3.76 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $4 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -18.30% while it is estimated to decrease by -11.84% in next year. EPS is likely to shrink at an annualized rate of -7.50% for next 5-years, compared to annual growth of 18.76% made by the stock over the past 5-years.
Analysts at 20 brokerage firms have issued recommendations for the Phillips 66 (PSX)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.80. Out of those 20 Wall Street analysts, 11 recommended a “Buy” rating, while 7 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by TD Cowen on December 04, 2023 offering an Outperform rating for the stock and assigned a target price range of between $134 and $150 to it.
