Phillips 66 (NYSE: PSX)’s stock price has increased by 0.67 compared to its previous closing price of 121.03. However, the company has seen a -1.16% decrease in its stock price over the last five trading sessions. seekingalpha.com reported 2024-10-29 that Phillips 66 (NYSE:PSX ) Q3 2024 Earnings Conference Call October 29, 2024 12:00 PM ET Company Participants Jeff Dietert – VP, IR Mark Lashier – Chairman & CEO Kevin Mitchell – CFO Don Baldridge – EVP, Midstream and Chemicals Rich Harbison – EVP, Refining Brian Mandell, – EVP, Marketing and Commercial Conference Call Participants John Royall – JPMorgan Roger Read – Wells Fargo Neil Mehta – Goldman Sachs Ryan Todd – Piper Sandler Manav Gupta – UBS Matthew Blair – Tudor, Pickering, Holt Jason Gabelman – TD Cowen Doug Leggate – Wolfe Research Theresa Chen – Barclays Paul Cheng – Scotiabank Jean Ann Salisbury – Bank of America Joe Laetsch – Morgan Stanley Operator Welcome to the Third Quarter 2024 Phillips 66 Earnings Conference Call. My name is Emily, and I’ll be your operator for today’s call.
Is It Worth Investing in Phillips 66 (NYSE: PSX) Right Now?
The price-to-earnings ratio for Phillips 66 (NYSE: PSX) is above average at 15.67x. The 36-month beta value for PSX is also noteworthy at 1.33. There are mixed opinions on the stock, with 7 analysts rating it as a “buy,” 1 rating it as “overweight,” 9 rating it as “hold,” and 1 rating it as “sell.”
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The public float for PSX is 411.90M, and at present, short sellers hold a 1.61% of that float. The average trading volume of PSX on November 06, 2024 was 2.64M shares.
PSX’s Market Performance
PSX’s stock has seen a -1.16% decrease for the week, with a -12.03% drop in the past month and a -8.32% fall in the past quarter. The volatility ratio for the week is 1.92%, and the volatility levels for the past 30 days are at 2.10% for Phillips 66 The simple moving average for the last 20 days is -5.55% for PSX stock, with a simple moving average of -13.92% for the last 200 days.
Analysts’ Opinion of PSX
Many brokerage firms have already submitted their reports for PSX stocks, with BofA Securities repeating the rating for PSX by listing it as a “Buy.” The predicted price for PSX in the upcoming period, according to BofA Securities is $156 based on the research report published on October 17, 2024 of the current year 2024.
TD Cowen, on the other hand, stated in their research note that they expect to see PSX reach a price target of $150, previously predicting the price at $162. The rating they have provided for PSX stocks is “Buy” according to the report published on September 11th, 2024.
TD Cowen gave a rating of “Buy” to PSX, setting the target price at $162 in the report published on July 31st of the current year.
PSX Trading at -6.72% 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 -30.01% of loss for the given period.
Volatility was left at 2.10%, however, over the last 30 days, the volatility rate increased by 1.92%, as shares sank -7.93% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -9.90% lower at present.
During the last 5 trading sessions, PSX fell by -1.16%, which changed the moving average for the period of 200-days by -6.03% in comparison to the 20-day moving average, which settled at $129.00. In addition, Phillips 66 saw -8.49% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at PSX starting from Mitchell Kevin J, who sale 30,000 shares at the price of $139.01 back on Aug 15 ’24. After this action, Mitchell Kevin J now owns 81,937 shares of Phillips 66, valued at $4,170,411 using the latest closing price.
Mitchell Kevin J, the Officer of Phillips 66, proposed sale 30,000 shares at $139.01 during a trade that took place back on Aug 15 ’24, which means that Mitchell Kevin J is holding shares at $4,170,411 based on the most recent closing price.
Stock Fundamentals for PSX
Current profitability levels for the company are sitting at:
- 0.02 for the present operating margin
- 0.06 for the gross margin
The net margin for Phillips 66 stands at 0.02. The total capital return value is set at 0.06. Equity return is now at value 11.28, with 4.39 for asset returns.
Based on Phillips 66 (PSX), the company’s capital structure generated 0.41 points at debt to capital in total, while cash flow to debt ratio is standing at 0.26. The debt to equity ratio resting at 0.7. The interest coverage ratio of the stock is 3.89.
Currently, EBITDA for the company is 9.93 billion with net debt to EBITDA at 2.8. When we switch over and look at the enterprise to sales, we see a ratio of 0.46. The receivables turnover for the company is 14.15for trailing twelve months and the total asset turnover is 1.97. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.21.
Conclusion
In summary, Phillips 66 (PSX) has had a bad performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
