Is Buying 52-Week Stock Like Phillips 66 (PSX) a Winning Strategy?

April 17, 2018 - By Peter Erickson

Phillips 66 (NYSE:PSX) Logo

Investors sentiment increased to 1.01 in Q4 2017. Its up 0.09, from 0.92 in 2017Q3. It increased, 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, Citigroup Incorporated has 0.06% invested in Phillips 66 (NYSE:PSX) for 714,293 shares. Brown Advisory Secs Ltd Liability Corporation has 16,641 shares for 0.32% of their portfolio. Amf Pensionsforsakring Ab reported 104,520 shares. Quantitative Investment Llc invested in 0.06% or 37,400 shares. Natl Bank Of America De has invested 0.07% in Phillips 66 (NYSE:PSX). 10,408 were accumulated by Roundview Cap Lc. Fin Architects owns 1,408 shares or 0.02% of their US portfolio. The Connecticut-based Cubist Systematic Strategies Ltd Liability Corporation has invested 0.17% in Phillips 66 (NYSE:PSX). Rampart Investment Co Limited Liability Company accumulated 0.21% or 5,270 shares. Atwood & Palmer Inc reported 763 shares. Massachusetts-based Ipswich Investment Management has invested 0.16% in Phillips 66 (NYSE:PSX). Carret Asset Lc stated it has 0.32% in Phillips 66 (NYSE:PSX). 10,332 were accumulated by Cibc Ww Incorporated. Smithfield Trust has invested 0.04% of its portfolio in Phillips 66 (NYSE:PSX). Cypress Cap Management Ltd, Delaware-based fund reported 12,562 shares.

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

The stock of Phillips 66 (NYSE:PSX) hit a new 52-week high and has $110.46 target or 3.00 % above today’s $107.24 share price. The 6 months bullish chart indicates low risk for the $50.01 billion company. The 1-year high was reported on Apr, 17 by Barchart.com. If the $110.46 price target is reached, the company will be worth $1.50B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 0.39% or $0.42 during the last trading session, reaching $107.24. About 509,994 shares traded. Phillips 66 (NYSE:PSX) has risen 23.90% since April 17, 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. They expect $1.24 earnings per share, up 121.43 % or $0.68 from last year’s $0.56 per share. PSX’s profit will be $578.21 million for 21.62 P/E if the $1.24 EPS becomes a reality. After $1.07 actual earnings per share reported by Phillips 66 for the previous quarter, Wall Street now forecasts 15.89 % 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 24 analyst reports since October 18, 2017 according to SRatingsIntel. The rating was maintained by RBC Capital Markets with “Hold” on Tuesday, January 30. On Thursday, December 21 the stock rating was maintained by Scotia Capital with “Buy”. The rating was maintained by UBS with “Neutral” on Wednesday, November 15. The firm has “Sell” rating by Jefferies given on Wednesday, December 20. Cowen & Co maintained Phillips 66 (NYSE:PSX) rating on Friday, February 2. Cowen & Co has “Buy” rating and $125.0 target. As per Monday, October 30, the company rating was maintained by JP Morgan. Credit Suisse reinitiated it with “Neutral” rating and $110 target in Wednesday, March 7 report. The rating was maintained by Deutsche Bank with “Hold” on Monday, March 19. The firm earned “Sell” rating on Wednesday, January 24 by Jefferies. As per Wednesday, December 20, the company rating was maintained by RBC Capital Markets.

Phillips 66 operates as an energy manufacturing and logistics company. The company has market cap of $50.01 billion. It operates through four divisions: Midstream, Chemicals, Refining, and Marketing and Specialties . It has a 10.89 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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