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 $1,132,290 were sold by Pruitt Joseph Scott on Mar 20 ’24. At $157.26 per share, Pruitt Joseph Scott sold 7,200 shares. The insider’s holdings dropped to 6,583 shares worth approximately $1.09 million following the completion of this transaction.
Also, Pruitt Joseph Scott sold 5,922 shares, netting a total of over 932,103 in proceeds. Following the sale of shares at $157.40 each, the insider now holds 6,583 shares.
Before that, Pease Robert W had added 682 shares to its account. In a trade valued at $99,968, the Director bought Phillips 66 shares for $146.58 each. Upon closing the transaction, the insider’s holdings increased to 682 shares, worth approximately $0.31 million.
As published in their initiating research note from Citigroup on January 24, 2024, Phillips 66 [PSX] has been a Buy. Analysts at TD Cowen resumed the stock at ‘”an Outperform”‘ outlook in a report released in early December. As of October 31, 2023, Wolfe Research has increased its “Peer perform” rating to a “an Outperform” for PSX. Earlier on October 30, 2023, Tudor Pickering Holt & Co. upgraded its rating. Their new recommendation was “a Buy” for PSX stock which previously was a “a Hold”.
Analyzing PSX Stock Performance
During the last five days, there has been a drop of approximately -4.37%. Over the course of the year, Phillips 66 shares have jumped approximately 24.05%. Shares of the company reached a 52-week high of $174.08 on 04/05/24 and a 52-week low of $126.63 on 01/18/24. A 50-day SMA is recorded $152.22, while a 200-day SMA reached $126.03. Nevertheless, trading volume fell to 1.8 million shares from 2.36 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 163.57, which, if violated, would cause prices to drop to 161.99. In the upper region, resistance lies at 166.74. The next price resistance is at 168.33. RSI (Relative Strength Index) is 61.36 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.09, which suggests the price will increase in the coming days. Percent R is at 49.02%, indicating low 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 steep in short interest on Mar 15, 2024 dropping by -0.59 million shares to 8.71 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 9.3 million shares. A decline of -6.77% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.66 of the overall float, the days-to-cover ratio (short ratio) decline to 2.66.
