Phillips 66’s Stock Price Plummets to $132.39, Reflecting a Sharp 4.2% Decrease

Phillips 66 (PSX)

132.39 USD -5.80 (-4.20%) Volume: 3.03M

Phillips 66’s stock price currently stands at 132.39 USD, experiencing a 4.20% decrease this trading session with a trading volume of 3.03M, and a slight year-to-date decline of 0.56%, highlighting the fluctuating performance of PSX shares in the market.

Latest developments on Phillips 66

Phillips 66 (NYSE:PSX) shareholders have seen impressive growth with a 31% CAGR over the past three years. Despite this, the company’s stock price rose on Monday but still underperformed the market. Nisa Investment Advisors LLC and Sutton Place Investors LLC both sold off shares of Phillips 66, while Boston Trust Walden Corp and Sumitomo Mitsui Trust Holdings Inc. also decreased their stock holdings. Additionally, Phillips 66‘s CFO recently sold $4.17 million in stock and exercised options. US West Coast refiners are still eagerly awaiting a margin boost from TMX, which could potentially impact Phillips 66‘s stock price movement in the near future.

Phillips 66 on Smartkarma

Analysts at Baptista Research have been closely following Phillips 66, a leading energy company, and have published several research reports on the company’s performance. In their report titled “Phillips 66: Refining Operations and Market Positioning! – Major Drivers,” they highlighted the company’s solid financial metrics, strategic acquisitions, and operational improvements in the face of challenges. Phillips 66 reported adjusted earnings of $984 million in Q2 and returned $1.3 billion to shareholders through dividends and share buybacks, showcasing their commitment to shareholder returns.

Another report by Baptista Research, titled “Phillips 66: Is The Demand Recovery In The Refining Macro Enough To Warrant A Bullish Thesis? – Major Drivers,” emphasized the company’s strong performance in the fourth quarter and full year 2023. With a total shareholder return of 33% in 2023 and an increased quarterly dividend, Phillips 66 highlighted its diversified and integrated portfolio as key to delivering strong returns on capital employed. Despite challenges, the company remains optimistic about its future prospects in the refining industry.

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 mix of Smart Scores in its overall outlook. While the company scored high in growth and momentum, indicating positive future prospects in terms of expansion and market performance, its value and dividend scores were moderate. This suggests that investors may see potential for growth and strong market momentum in Phillips 66, but should also consider factors like value and dividend returns in their long-term investment strategies.

Looking ahead, Phillips 66‘s Smart Scores point towards a promising long-term outlook, with a strong emphasis on growth and momentum. While the company may face challenges in terms of resilience, the overall positive scores in key areas indicate a potential for continued success and growth in the future. Investors and stakeholders may find confidence in Phillips 66‘s ability to capitalize on opportunities for expansion and market performance, while also considering factors like value and dividend returns in their 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.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.

💡 Before it’s here, it’s on Smartkarma