In a filing, Phillips 66 revealed its Vice President and Controller Pruitt Joseph Scott unloaded Company’s shares for reported $1.13 million on Mar 20 ’24. In the deal valued at $157.26 per share,7,200 shares were sold. As a result of this transaction, Pruitt Joseph Scott now holds 6,583 shares worth roughly $1.03 million.
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Then, Pruitt Joseph Scott sold 5,922 shares, generating $932,103 in total proceeds. Upon selling the shares at $157.40, the Vice President and Controller now owns 6,583 shares.
Before that, Pease Robert W bought 682 shares. Phillips 66 shares valued at $99,968 were divested by the Director at a price of $146.58 per share. As a result of the transaction, Pease Robert W now holds 1,900 shares, worth roughly $0.3 million.
Citigroup initiated its Phillips 66 [PSX] rating to a Buy in a research note published recently. A number of analysts have revised their coverage, including TD Cowen’s analysts, who remained covering the stock and in early December has reiterated a ‘”an Outperform”‘ rating for it. Wolfe Research also remained covering PSX and has increased its forecast on October 31, 2023 with a “an Outperform” recommendation from previously “Peer perform” rating. Tudor Pickering Holt & Co. revised its rating on October 30, 2023. It rated PSX as “a Buy” which previously was an “a Hold”.
Price Performance Review of PSX
On Monday, Phillips 66 [NYSE:PSX] saw its stock fall -1.88% to $156.46. Over the last five days, the stock has lost -0.19%. Phillips 66 shares have risen nearly 17.52% since the year began. Nevertheless, the stocks have risen 67.27% over the past one year. While a 52-week high of $159.80 was reached on 03/25/24, a 52-week low of $89.74 was recorded on 01/18/24. SMA at 50 days reached $144.89, while 200 days put it at $122.15. A total of 2.31 million shares were traded, compared to the trading of 2.08 million shares in the previous session.
Levels Of Support And Resistance For PSX Stock
The 24-hour chart illustrates a support level at 154.79, which if violated will result in even more drops to 153.11. On the upside, there is a resistance level at 159.78. A further resistance level may holdings at 163.09. The Relative Strength Index (RSI) on the 14-day chart is 63.39, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 4.00, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 30.45%. Stochastics %K at 87.80% indicates the stock is a selling.
How much short interest is there in Phillips 66?
A steep rise in short interest was recorded in Phillips 66 stocks on Feb 29, 2024, dropping by -1.35 million shares to a total of 8.02 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 9.37 million shares. There was a decline of -16.83%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.13% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.41.
