Phillips 66 (PSX) Monthly Report
Publication Date: September 22, 2024
Company Overview
Phillips 66 (NYSE: PSX) is a major energy manufacturing and logistics company headquartered in Houston, Texas, specializing in the Oil & Gas Refining & Marketing sector. Established in 1875, Phillips 66 operates across multiple segments, including Midstream, Chemicals, Refining, and Marketing & Specialties (M&S). The company is heavily involved in the transportation, storage, and marketing of crude oil, refined petroleum products, and natural gas liquids, while also producing a diverse array of chemicals and specialty products. With a strong financial foundation, Phillips 66 reported total revenues of approximately $151.85 billion, illustrating its robust business capabilities and ongoing growth potential.
Stock Performance and Analyst Recommendations
As of now, Phillips 66’s shares are priced at $129.97, with a total of 418,568,992 shares outstanding. Short selling is relatively low, with only 1.71% of shares—7,140,651—currently being shorted, indicating a generally positive investor outlook. Analysts project a target high price of $182.00 and a mean target price of $151.67, reflecting optimistic expectations for future stock performance. Following common market consensus, a “buy” recommendation is warranted based on a mean analyst rating of 2.2 from 14 assessments, showcasing confidence in the stock’s growth potential.
Market Trends and Volatility
Despite its promising forecasts, Phillips 66 is currently trading below its fifty-day moving average of $135.16, suggesting a potential bearish trend in the short term. Over the past year, the stock has experienced significant fluctuations, with a 52-week high of $174.08 and a low of $107.85, indicating volatility that may present unique investment opportunities. Investors should monitor market conditions closely and consider this range while evaluating risks and recovery possibilities for the stock. Overall, Phillips 66 remains a compelling investment option backed by strong financial performance and favorable analyst outlooks.
| Metric | Value |
|---|---|
| Market Cap | $54.4b |
| Total Debt | $20.0b |
| Total Cash | $2.4b |
| Shares Outstanding | 418.6m |
| Float Shares | 417.1m |
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