Could Phillips 66 (PSX) Lose its Strength? The Stock Reaches All Time High

April 24, 2018 - By Migdalia James

Phillips 66 (NYSE:PSX) Logo

Investors sentiment increased to 1.01 in Q4 2017. Its up 0.09, from 0.92 in 2017Q3. It improved, as 34 investors sold Phillips 66 shares while 372 reduced holdings. 125 funds opened positions while 284 raised stakes. 351.44 million shares or 0.51% less from 353.24 million shares in 2017Q3 were reported.
Moreover, Seaward Management Partnership has 0.2% invested in Phillips 66 (NYSE:PSX). Moreover, Wilbanks Smith Thomas Asset Management Limited Liability has 0.03% invested in Phillips 66 (NYSE:PSX) for 3,992 shares. Hennessy Advsr, a California-based fund reported 66,800 shares. Columbia Prtnrs L L C Invest Management holds 0.04% of its portfolio in Phillips 66 (NYSE:PSX) for 2,731 shares. Perigon Wealth Mngmt Lc reported 0.02% stake. Moreover, Thompson Siegel Walmsley Limited Com has 0% invested in Phillips 66 (NYSE:PSX). Intrust Bancorp Na holds 0.58% in Phillips 66 (NYSE:PSX) or 19,118 shares. 1.48 million were reported by Neuberger Berman Grp Limited Com. Citigroup invested in 714,293 shares. Goodman Finance reported 0.2% in Phillips 66 (NYSE:PSX). 392,000 were accumulated by Old Republic Corporation. Geode Mngmt Lc, a Massachusetts-based fund reported 4.27 million shares. Norinchukin Bancorp The holds 0.06% of its portfolio in Phillips 66 (NYSE:PSX) for 34,843 shares. Dodge Cox has invested 0% in Phillips 66 (NYSE:PSX). Argyle Cap Mgmt invested in 19,304 shares or 0.73% of the stock.

Since December 15, 2017, it had 0 insider purchases, and 1 sale for $270,675 activity.

The stock of Phillips 66 (NYSE:PSX) reached all time high today, Apr, 24 and still has $117.40 target or 7.00 % above today’s $109.72 share price. This indicates more upside for the $51.17B company. This technical setup was reported by If the $117.40 PT is reached, the company will be worth $3.58 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events.

The stock decreased 1.55% or $1.73 during the last trading session, reaching $109.72. About 2.20 million shares traded. Phillips 66 (NYSE:PSX) has risen 23.90% since April 24, 2017 and is uptrending. It has outperformed by 12.35% the S&P500.

Analysts await Phillips 66 (NYSE:PSX) to report earnings on April, 27 before the open. They expect $0.84 earnings per share, up 50.00 % or $0.28 from last year’s $0.56 per share. PSX’s profit will be $391.71M for 32.65 P/E if the $0.84 EPS becomes a reality. After $1.07 actual earnings per share reported by Phillips 66 for the previous quarter, Wall Street now forecasts -21.50 % negative EPS growth.

Phillips 66 (NYSE:PSX) Ratings Coverage

Among 13 analysts covering Phillips 66 (NYSE:PSX), 4 have Buy rating, 2 Sell and 7 Hold. Therefore 31% are positive. Phillips 66 had 25 analyst reports since October 30, 2017 according to SRatingsIntel. Credit Suisse reinitiated it with “Neutral” rating and $110 target in Wednesday, March 7 report. UBS maintained the stock with “Neutral” rating in Wednesday, November 15 report. JP Morgan maintained the shares of PSX in report on Monday, April 9 with “Neutral” rating. The rating was maintained by Piper Jaffray with “Buy” on Monday, April 23. The stock of Phillips 66 (NYSE:PSX) has “Buy” rating given on Sunday, January 21 by Piper Jaffray. Citigroup maintained the shares of PSX in report on Tuesday, February 6 with “Neutral” rating. The firm earned “Buy” rating on Thursday, December 21 by Scotia Capital. The company was maintained on Wednesday, January 10 by Scotia Capital. Cowen & Co maintained Phillips 66 (NYSE:PSX) rating on Friday, February 2. Cowen & Co has “Buy” rating and $125.0 target. The rating was maintained by Cowen & Co on Wednesday, February 14 with “Buy”.

Phillips 66 operates as an energy manufacturing and logistics company. The company has market cap of $51.17 billion. It operates through four divisions: Midstream, Chemicals, Refining, and Marketing and Specialties . It has a 11.14 P/E ratio. The Midstream segment gathers, processes, transports, and markets natural gas; transports, stores, fractionates, and markets natural gas liquids in the United States; and stores, refrigerates, and exports liquefied petroleum gas (LPG) primarily to Asia and Europe.

Phillips 66 (NYSE:PSX) Institutional Positions Chart

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