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 $5,502,784 were sold by Roberts Timothy D. on May 16 ’24. At $145.80 per share, Roberts Timothy D. sold 37,742 shares. The insider’s holdings dropped to 48,365 shares worth approximately $6.91 million following the completion of this transaction.
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Also, Pruitt Joseph Scott sold 7,200 shares, netting a total of over 1,132,290 in proceeds. Following the sale of shares at $157.26 each, the insider now holds 6,583 shares.
Before that, Pruitt Joseph Scott had sold 5,922 shares from its account. In a trade valued at $932,103, the Vice President and Controller traded Phillips 66 shares for $157.40 each. Upon closing the transaction, the insider’s holdings decreased to 5,922 shares, worth approximately $0.94 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 -2.26%. Over the course of the year, Phillips 66 shares have jumped approximately 7.33%. 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 $154.96, while a 200-day SMA reached $133.16. Nevertheless, trading volume fell to 2.44 million shares from 1.8 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 141.58, which, if violated, would cause prices to drop to 140.27. In the upper region, resistance lies at 144.33. The next price resistance is at 145.77. RSI (Relative Strength Index) is 36.20 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.52, which suggests the price will decrease in the coming days. Percent R is at 84.06%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
