Phillips 66’s Stock Price Drops to $132.33, Experiencing a Notable 4.45% Decrease

Phillips 66 (PSX)

132.33 USD -6.17 (-4.45%) Volume: 2.53M

Phillips 66’s stock price currently stands at 132.33 USD, marking a trading session decrease of 4.45%, with a trading volume of 2.53M. Despite this, the year-to-date percentage change remains relatively stable at -0.61%, showcasing the resilience of PSX’s stock performance.

Latest developments on Phillips 66

Analysts have been closely monitoring Phillips 66 stock, with Piper Sandler reiterating an Overweight rating and raising the price target to $144, while Barclays cut their price target to $133. Despite the fluctuations, Phillips 66 stock is still viewed as relatively inexpensive and outperforming the market. Kesler Norman & Wride LLC holds $5.60 million in stock holdings, while Clearbridge Investments LLC has sold shares of Phillips 66. These mixed signals have contributed to the movements in Phillips 66 stock price today.

Phillips 66 on Smartkarma

Analysts at Baptista Research have provided bullish coverage on Phillips 66, highlighting the company’s resilient performance in their Q2 results. Despite facing various challenges, Phillips 66 showcased solid financial metrics, strategic acquisitions, and operational improvements. The company reported adjusted earnings of $984 million or $2.31 per share, with an operating cash flow of $2.1 billion. This allowed them to return $1.3 billion to shareholders through dividends and share buybacks, in line with their commitment to returning over 50% of operating cash flows to shareholders.

In another report by Baptista Research, analysts expressed optimism about Phillips 66‘s potential for expanded flexibility with the Trans Mountain Pipeline and other major developments. Despite encountering obstacles during the first quarter of fiscal 2024, the company made progress in strategic areas. Mark Lashier, President and CEO, highlighted strong crude utilization rates, although maintenance work limited the production of higher-value products, impacting the results. Overall, analysts remain bullish on Phillips 66‘s outlook based on these developments.

A look at Phillips 66 Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Phillips 66, a downstream energy company with operations in oil refining, marketing, transportation, chemical manufacturing, and power generation, has received a mixed outlook based on the Smartkarma Smart Scores. While the company scores high in growth and momentum, indicating a positive long-term trajectory, it falls short in resilience. This suggests that while Phillips 66 may experience strong growth and market momentum, it may face challenges in terms of its ability to weather economic downturns or external shocks.

Overall, Phillips 66‘s Smart Scores paint a picture of a company with solid potential for growth and market performance, but with some vulnerabilities in terms of resilience. With a balanced score across value, dividend, growth, resilience, and momentum, investors may want to carefully consider the company’s overall outlook and potential risks before making investment decisions.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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