Price Action to Note: Phillips 66 on Focus After Raising In Today’s Session

Price Action to Note: Phillips 66 on Focus After Raising In Today's Session

The stock of Phillips 66 (NYSE:PSX) is a huge mover today! About 1.14M shares traded hands. Phillips 66 (NYSE:PSX) has declined 5.37% since April 28, 2016 and is downtrending. It has underperformed by 11.29% the S&P500.
The move comes after 7 months positive chart setup for the $44.80 billion company. It was reported on Dec, 1 by Barchart.com. We have $90.41 PT which if reached, will make NYSE:PSX worth $2.69B more.

Analysts await Phillips 66 (NYSE:PSX) to report earnings on February, 3. They expect $0.69 earnings per share, down 47.33% or $0.62 from last year’s $1.31 per share. PSX’s profit will be $362.43 million for 30.90 P/E if the $0.69 EPS becomes a reality. After $1.05 actual earnings per share reported by Phillips 66 for the previous quarter, Wall Street now forecasts -34.29% negative EPS growth.

Phillips 66 (NYSE:PSX) Ratings Coverage

Out of 15 analysts covering Phillips 66 (NYSE:PSX), 1 rate it a “Buy”, 0 “Sell”, while 14 “Hold”. This means 7% are positive. Phillips 66 has been the topic of 28 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The stock of Phillips 66 (NYSE:PSX) earned “Outperform” rating by Credit Suisse on Tuesday, October 27. RBC Capital Markets maintained the stock with “Sector Perform” rating in Monday, November 2 report. The firm has “Hold” rating given on Tuesday, August 23 by Jefferies. The firm earned “Equal-Weight” rating on Wednesday, July 13 by Barclays Capital. The company was maintained on Monday, November 2 by JP Morgan. UBS initiated the shares of PSX in a report on Thursday, May 19 with “Neutral” rating. Goldman Sachs downgraded Phillips 66 (NYSE:PSX) rating on Monday, November 23. Goldman Sachs has “Sell” rating and $85 price target. The rating was maintained by Oppenheimer on Friday, September 18 with “Outperform”. The company was maintained on Friday, December 4 by Oppenheimer. The stock of Phillips 66 (NYSE:PSX) earned “Equal-Weight” rating by Morgan Stanley on Friday, June 17.

According to Zacks Investment Research, “Phillips 66 is a downstream energy company. It operates in three segments: Refining & Marketing, Midstream and Chemicals. The Refining and Marketing segment purchases, refines, markets and transports crude oil and petroleum products, mainly in the United States, Europe and Asia and also engages in power generation activities, lubricants and other specialty products businesses. The Midstream segment gathers, processes, transports and markets natural gas and fractionates and markets NGL, predominantly in the United States. The Chemicals segment manufactures and markets petrochemicals and plastics. Phillips 66 is headquartered in Houston, Texas.”

Insitutional Activity: The institutional sentiment increased to 0.99 in Q2 2016. Its up 0.18, from 0.81 in 2016Q1. The ratio improved, as 75 funds sold all Phillips 66 shares owned while 394 reduced positions. 67 funds bought stakes while 314 increased positions. They now own 360.95 million shares or 2.47% less from 370.08 million shares in 2016Q1.
Chicago Equity Partners Limited Com last reported 0.12% of its portfolio in the stock. Shell Asset Management Com holds 0.11% of its portfolio in Phillips 66 (NYSE:PSX) for 57,711 shares. Ameritas Investment Prtn has 0.05% invested in the company for 9,851 shares. Spirit Of America New York accumulated 35,587 shares or 0.41% of the stock. Moreover, Gulf Fincl Bank (Uk) has 0.19% invested in Phillips 66 (NYSE:PSX) for 142,440 shares. First Interstate National Bank reported 4,657 shares or 0.08% of all its holdings. Moreover, Arrow Corporation has 0.65% invested in Phillips 66 (NYSE:PSX) for 31,440 shares. Torray Llc accumulated 5,975 shares or 0.04% of the stock. Chemung Canal has 13,316 shares for 0.25% of their US portfolio. Private Ocean Limited Co last reported 415 shares in the company. Courier Cap accumulated 4,088 shares or 0.06% of the stock. Hudson Valley Investment Advsr Adv accumulated 15,905 shares or 0.4% of the stock. Vigilant Cap Mngmt Ltd Liability holds 0.02% or 1,157 shares in its portfolio. Forward Mgmt Lc has 0.12% invested in the company for 17,731 shares. Aqr Cap Mngmt Limited Liability Com last reported 0.2% of its portfolio in the stock.

Insider Transactions: Since June 3, 2016, the stock had 7 insider buys, and 7 sales for $180.48 million net activity. $78.75M worth of Phillips 66 (NYSE:PSX) was bought by BERKSHIRE HATHAWAY INC on Monday, September 12. The insider Garland Greg C. sold $6.36 million. Taylor Timothy Garth had sold 50,000 shares worth $3.90M on Tuesday, June 28. $5.82 million worth of shares were sold by Ziemba Lawrence Michael on Tuesday, November 8. On Wednesday, June 29 the insider Johnson Paula Ann sold $3.19 million. $345,686 worth of Phillips 66 (NYSE:PSX) was sold by Herman Robert A. The insider Loomis William R Jr bought 12,680 shares worth $1.00M.

More important recent Phillips 66 (NYSE:PSX) news were published by: Fool.com which released: “Better Buy: Suncor Energy Inc. vs. Phillips 66” on November 01, 2016, also Streetinsider.com published article titled: “Form 4 Phillips 66 For: Nov 30 Filed by: Herman Robert A”, Bizjournals.com published: “Phillips 66 names new marketing, commercial group leadership” on November 11, 2016. More interesting news about Phillips 66 (NYSE:PSX) was released by: Seekingalpha.com and their article: “Why Phillips 66’s Momentum Will Continue” with publication date: November 21, 2016.

PSX Company Profile

Phillips 66, incorporated on November 10, 2011, is an energy manufacturing and logistics firm with midstream, chemicals, refining and marketing, and specialties businesses. The Firm operates its business through four divisions: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S).

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