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Is a Correction Looming Ahead for Phillips 66 (PSX)

Phillips 66 (NYSE:PSX) went up by 1.57% from its latest closing price compared to the recent 1-year high of $111.28. The company’s stock price has collected -3.41% of loss in the last five trading sessions. Barron’s reported on 08/29/22 that Biden’s Move on Gas Prices May Hurt These Stocks

Is It Worth Investing in Phillips 66 (NYSE :PSX) Right Now?

Phillips 66 (NYSE:PSX) scored a price-to-earnings ratio above its average ratio, recording 7.17 x from its present earnings ratio. Plus, the 36-month beta value for PSX is at 1.39. Opinions of the stock are interesting as 10 analysts out of 18 who provided ratings for Phillips 66 declared the stock was a “buy,” while 1 rated the stock as “overweight,” 7 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $112.19, which is $27.27 above the current price. PSX currently public float of 478.90M and currently shorts hold a 2.21% ratio of that float. Today, the average trading volume of PSX was 3.37M shares.

PSX’s Market Performance

PSX stocks went down by -3.41% for the week, with a monthly drop of -5.90% and a quarterly performance of -13.29%, while its annual performance rate touched 29.48%. The volatility ratio for the week stands at 4.10% while the volatility levels for the past 30 days are set at 3.24% for Phillips 66. The simple moving average for the period of the last 20 days is -5.37% for PSX stocks with a simple moving average of -3.21% for the last 200 days.

Analysts’ Opinion of PSX

BMO Capital Markets, on the other hand, stated in their research note that they expect to see PSX reach a price target of $132. The rating they have provided for PSX stocks is “Outperform” according to the report published on June 14th, 2022.

Citigroup gave a rating of “Neutral” to PSX, setting the target price at $89 in the report published on April 26th of the current year.

PSX Trading at -3.90% from the 50-Day Moving Average

After a stumble in the market that brought PSX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -25.22% of loss for the given period.

Volatility was left at 3.24%, however, over the last 30 days, the volatility rate increased by 4.10%, as shares sank -5.68% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +1.79% upper at present.

During the last 5 trading sessions, PSX fell by -3.41%, which changed the moving average for the period of 200-days by +16.59% in comparison to the 20-day moving average, which settled at $87.69. In addition, Phillips 66 saw 14.85% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at PSX starting from Garland Greg C., who sale 146,700 shares at the price of $109.70 back on Jun 09. After this action, Garland Greg C. now owns 656,563 shares of Phillips 66, valued at $16,093,635 using the latest closing price.

Roberts Timothy D., the Executive Vice President of Phillips 66, sale 59,100 shares at $110.21 during a trade that took place back on Jun 08, which means that Roberts Timothy D. is holding 48,201 shares at $6,513,452 based on the most recent closing price.

Stock Fundamentals for PSX

Current profitability levels for the company are sitting at:

  • +1.09 for the present operating margin
  • +3.02 for the gross margin

The net margin for Phillips 66 stands at +1.17. Equity return is now at value 26.00, with 9.20 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 1.15.

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