A company insider recently sold 146,700 shares of Phillips 66 [PSX]. Should You Sale?

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Phillips 66 shares valued at $16,093,635 were sold by Garland Greg C. on Jun 09. At $109.70 per share, Garland Greg C. sold 146,700 shares. The insider’s holdings dropped to 656,563 shares worth approximately $54.02 million following the completion of this transaction.


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Also, Roberts Timothy D. sold 59,100 shares, netting a total of over 6,513,452 in proceeds. Following the sale of shares at $110.21 each, the insider now holds 48,201 shares.

Before that, Johnson Paula Ann had sold 44,700 shares from its account. In a trade valued at $4,868,326, the Retired Executive VP and GC traded Phillips 66 shares for $108.91 each. Upon closing the transaction, the insider’s holdings decreased to 44,700 shares, worth approximately $8.43 million.

As published in a research note from Wolfe Research on September 15, 2022, Phillips 66 [PSX] has been rated down from an Outperform to a Peer perform. Analysts at BMO Capital Markets started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid June. Earlier on January 31, 2022, Wells Fargo resumed its rating. Their recommendation was “an Overweight” for PSX stock.

Analyzing PSX’s Price Performance

On Thursday, Phillips 66 [NYSE: PSX] rose 1.23% to $82.27. The stock’s lowest price that day was $81.14, but it reached a high of $83.39 in the same session. During the last five days, there has been a surge of approximately 0.49%. Over the course of the year, Phillips 66 shares have jumped approximately 13.54%. Shares of the company reached a 52-week high of $111.28 on 06/08/22 and a 52-week low of $72.89 on 01/03/22. A 50-day SMA is recorded $86.70, while a 200-day SMA reached $86.15. Nevertheless, trading volume fell to 2.95 million shares from 2.87 million shares the previous day.

Support And Resistance Levels for Phillips 66 (PSX)

According to the 24-hour chart, there is a support level at 81.14, which, if violated, would cause prices to drop to 80.02. In the upper region, resistance lies at 83.39. The next price resistance is at 84.52. RSI (Relative Strength Index) is 41.21 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.64, which suggests the price will decrease in the coming days. Percent R is at 70.29%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Phillips 66 subject to short interest?

Stocks of Phillips 66 saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.8 million shares to 10.82 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 10.02 million shares. A jump of 7.39% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.25 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.25.

Which companies own the most shares of Phillips 66 (PSX)?

According to The Vanguard Group, Inc. filings, the company currently owns 47,741,582 shares, which is about 9.92% of the total PSX shares outstanding. The investor’s shares have appreciated by 3,643,819 from its previous 13-F filing of 44097763.0 shares. With the completion of the buy transaction, SSgA Funds Management, Inc.’s stake is now worth $2,922,526,247. BlackRock Fund Advisors acquire a 1.14% interest valued at $2.16 billion while Wells Fargo Clearing Services LLC sold a -39,707 stake. A total of 452,816 shares of Phillips 66 were sold by Geode Capital Management LLC during the quarter, and 1,757,267 were bought by Fidelity Management & Research Co. In its current portfolio, Aristotle Capital Management LLC holds 8,722,409 shares valued at $780.31 million.

In terms of Phillips 66 share price expectations, FactSet research, analysts set an average price target of $112.86 in the next 12 months, up nearly 39.04% from the previous closing price of $81.27. Analysts anticipate Phillips 66 stock to reach $128.00 by 2022, with the lowest price target being $96.00. In spite of this, 18 analysts ranked Phillips 66 stock as an Overweight at the end of 2022. On January 31, 2022, Raymond James assigned a price target of “an Outperform” to the stock and reiterated coverage with a $104.

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