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Wall Street Was Disappointed By Phillips 66 (NYSE: PSX)’s -0.82% Stock Price Decline

Phillips 66 (NYSE:PSX) has a beta value of 1.39 and has seen 0.57 million shares traded in the recent trading session. The company, currently valued at $40.60B, closed the recent trade at $82.54 per share which meant it lost -$0.68 on the day or -0.82% during that session. The PSX stock price is -34.82% off its 52-week high price of $111.28 and 22.99% above the 52-week low of $63.56. If we look at the company’s 10-day average daily trading volume, we find that it stood at 3.54 million shares traded. The 3-month trading volume is 3.37 million shares.

The consensus among analysts is that Phillips 66 (PSX) is an Overweight stock at the moment, with a recommendation rating of 2.20. 0 analysts rate the stock as a Sell, while 1 rate it as Overweight. 7 out of 18 have rated it as a Hold, with 10 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $4.75.

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Phillips 66 (NYSE:PSX) trade information

Sporting -0.82% in the red today, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 09/20/22 when the PSX stock price touched $82.54 or saw a rise of 2.78%. Year-to-date, Phillips 66 shares have moved 14.85%, while the 5-day performance has seen it change -3.41%. Over the past 30 days, the shares of Phillips 66 (NYSE:PSX) have changed -5.90%. Short interest in the company has seen 10.59 million shares shorted with days to cover at 3.68.

Wall Street analysts have a consensus price target for the stock at $112.86, which means that the shares’ value could jump 26.87% from the levels at last check today. The projected low price target is $96.00 while the price target rests at a high of $128.00. In that case, then, we find that the latest price level in today’s session is -55.08% off the targeted high while a plunge would see the stock gain -16.31% from the levels at last check today.

Phillips 66 (PSX) estimates and forecasts

Figures show that Phillips 66 shares have outperformed across the wider relevant industry. The company’s shares have gained 3.21% over the past 6 months, with this year growth rate of 183.16%, compared to 37.20% for the industry. Other than that, the company has, however, increased its growth outlook for the 2022 fiscal year revenue. Growth estimates for the current quarter are 49.40% and 10.90% for the next quarter. Revenue growth from the last financial year stood is estimated to be 46.40%.

5 analysts offering their estimates for the company have set an average revenue estimate of $40.78 billion for the current quarter. 5 have an estimated revenue figure of $40.61 billion for the next quarter concluding in Dec 2022.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 0.30% over the past 5 years. Earnings growth for 2022 is a modest 132.70% while over the next 5 years, the company’s earnings are expected to increase by 6.30%.

PSX Dividends

Phillips 66 is expected to release its next earnings report on November 01 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 3.88 at a share yield of 4.66%. The company’s dividend yield has gone up over the past 12 months.

Phillips 66 (NYSE:PSX)’s Major holders

Insiders own 0.45% of the company shares, while shares held by institutions stand at 73.56% with a share float percentage of 73.89%. Investors are also buoyed by the number of investors in a company, with Phillips 66 having a total of 1,776 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 49.68 million shares worth more than $4.1 billion. As of Jun 29, 2022, Vanguard Group, Inc. (The) held 10.33% of shares outstanding.

The other major institutional holder is Blackrock Inc., with the holding of over 37.76 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $3.11 billion and represent 7.85% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Select Sector SPDR Fund-Energy Select. As of Jun 29, 2022, the former fund manager holds about 2.95% shares in the company for having 14.17 million shares of worth $1.17 billion while later fund manager owns 13.29 million shares of worth $1.1 billion as of Aug 30, 2022, which makes it owner of about 2.76% of company’s outstanding stock.

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