Large Inflow of Money Witnessed in Phillips 66

Phillips 66 (PSX) : Thursdays money flow points at investors jumping to buy the stock on the weakness of price. $93.14 million worth of transactions were on upticks, whereas, the downticks accounted for $76.31 million worth of transactions. The net money flow was a positive $16.83 million and the uptick to downtick ratio was 1.22. However, the block trades showed a clear dominance of the bulls with a very healthy ratio of 7.41 in their favor. The net money flow into the stock was $18.39 million. The value of block trades done on downticks was only $2.87 million. The lack of interest in trading on downticks shows that the investors dont want to sell their holdings. The upticks accounted for $21.26 million of the total block trades, indicating continued buying interest on weakness, which bodes well for the future of the stock. Phillips 66 (PSX) was trading at $74.27, down $2.1 during day. The stock slid -2.75% over the previous days close. For the week, the stock recorded -6.91% over the previous weeks close.


Phillips 66 (PSX) : The highest level Phillips 66 (PSX) is projected to reach is $100 for the short term and the lowest estimate is at $76. The consolidated price target from 9 rating analysts who initiate coverage on the stock is $89.22 and the possibility the share price can swing is $7.53. The stock has recorded a 20-day Moving Average of 6.26% and the 50-Day Moving Average is 6.9%.

Phillips 66 (NYSE:PSX): The stock opened at $76.59 on Thursday but the bulls could not build on the opening and the stock topped out at $77.10 for the day. The stock traded down to $73.67 during the day, due to lack of any buying support eventually closed down at $74.27 with a loss of -2.75% for the day. The stock had closed at $76.37 on the previous day. The total traded volume was 6,056,071 shares.

Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing and specialties businesses. The Company operates its business through four segments: midstream, chemicals, refining and marketing and specialties. It gathers, processes, transports and markets natural gas, and transports, fractionates and markets natural gas liquids (NGL) in the United States. The Chemical segment manufactures and markets petrochemicals and plastics. The Chemicals segment consists of its 50% equity investment in Chevron Phillips Chemical Company LLC (CPChem). The refining segment buys, sells and refines crude oil and other feedstocks into petroleum products (such as gasolines, distillates and aviation fuels) at 14 refineries, mainly in the United States and Europe. The Marketing and Specialties segment purchases for resale and markets refined petroleum products (such as gasolines, distillates and aviation fuels), mainly in the United States and Europe.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *