During the last session, Phillips 66 (NYSE:PSX)’s traded shares were 11.65 million, with the beta value of the company hitting 1.36. At the end of the trading day, the stock’s price was $159.03, reflecting an intraday gain of 3.01% or $4.65. The 52-week high for the PSX share is $156.85, that puts it up 1.37 from that peak though still a striking 43.57% gain since the share price plummeted to a 52-week low of $89.74. The company’s market capitalization is $68.04B, and the average intraday trading volume over the past 10 days was 3.99 million shares, and the average trade volume was 3.11 million shares over the past three months.
Phillips 66 (NYSE:PSX) trade information
Phillips 66 (PSX) registered a 3.01% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 3.01% in intraday trading to $159.03, hitting a weekly high. The stock’s 5-day price performance is 6.49%, and it has moved by 9.52% in 30 days. Based on these gigs, the overall price performance for the year is 69.81%. The short interest in Phillips 66 (NYSE:PSX) is 8.02 million shares and it means that shorts have 2.41 day(s) to cover.
Phillips 66 (PSX) estimates and forecasts
Statistics show that Phillips 66 has underperformed its competitors in share price, compared to the industry in which it operates. Phillips 66 (PSX) shares have gone up 29.32% during the last six months, with a year-to-date growth rate less than the industry average at -18.41% against -17.10. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -32.30% this quarter and then jump 3.60% in the quarter after that. In the rating firms’ projections, revenue will decrease -7.50% compared to the previous financial year.
Revenue for the current quarter is expected to be $33.59 billion as predicted by 6 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to $34.89 billion by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $35.09 billion and $35.74 billion respectively. In this case, analysts expect current quarter sales to shrink by -4.30% and then drop by -2.40% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 5.58%. While earnings are projected to return -12.29% in 2024, the next five years will return -11.10% per annum.
PSX Dividends
Phillips 66 is due to release its next quarterly earnings on April 26. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Phillips 66 is 4.20, with the dividend yield indicating at 2.64 percent, continuing the trend of increasing dividends in recent years.
Phillips 66 (NYSE:PSX)’s Major holders
Phillips 66 insiders own 0.41% of total outstanding shares while institutional holders control 78.22%, with the float percentage being 78.54%. Vanguard Group Inc is the largest shareholder of the company, while 2,182 institutions own stock in it. As of Jun 29, 2023, the company held over 41.35 million shares (or 9.29% of all shares), a total value of $3.94 billion in shares.
The next largest institutional holding, with 36.74 million shares, is of Blackrock Inc.’s that is approximately 8.25% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $3.5 billion.
Also, the Mutual Funds coming in first place with the largest holdings of Phillips 66 (PSX) shares are Vanguard Total Stock Market Index Fund and Select Sector SPDR Fund-Energy Select. Data provided on Jun 29, 2023 indicates that Vanguard Total Stock Market Index Fund owns about 14.36 million shares. This amounts to just over 3.23 percent of the company’s overall shares, with a $1.37 billion market value. The same data shows that the other fund manager holds slightly less at 12.49 million, or about 2.81% of the stock, which is worth about $1.43 billion.
