Phillips 66 (PSX) : Traders are bullish on Phillips 66 (PSX) as it has outperformed the S&P 500 by a wide margin of 2.04% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.48%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.92% in the last 1 week, and is up 4.58% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Phillips 66 (NYSE:PSX): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $77.71 and $77.50 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $78.61. The buying momentum continued till the end and the stock did not give up its gains. It closed at $78.28, notching a gain of 0.95% for the day. The total traded volume was 1,619,100 . The stock had closed at $77.54 on the previous day.
The stock has recorded a 20-day Moving Average of 3.19% and the 50-Day Moving Average is 0.33%. Phillips 66 is up 0.5% in the last 3-month period. Year-to-Date the stock performance stands at -2.8%.
Phillips 66 (PSX) : The most positive equity analysts on Phillips 66 (PSX) expects the shares to touch $93, whereas, the least positive believes that the stock will trade at $68 in the short term. The company is covered by 9 Wall Street Brokerage Firms. The average price target for shares are $84.89 with an expected fluctuation of $7.82 from the mean.
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.