Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Phillips 66 shares valued at $4,170,411 were sold by Mitchell Kevin J on Aug 15 ’24. At $139.01 per share, Mitchell Kevin J sold 30,000 shares. The insider’s holdings dropped to 81,937 shares worth approximately $10.56 million following the completion of this transaction.
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Also, Mitchell Kevin J purchased 30,000 shares, netting a total of over 4,170,411 in proceeds.
Before that, Roberts Timothy D. had sold 37,742 shares from its account. In a trade valued at $5,502,784, the Executive Vice President traded Phillips 66 shares for $145.80 each. Upon closing the transaction, the insider’s holdings decreased to 37,742 shares, worth approximately $6.23 million.
As published in a research note from TD Cowen on July 31, 2024, Phillips 66 [PSX] has been retained to a Buy and the price target has been revised to $162. As of June 21, 2024, TD Cowen has reiterated its “Buy” rating for PSX. Earlier on January 24, 2024, Citigroup initiated its rating. Their recommendation was “a Buy” for PSX stock.
Analyzing PSX Stock Performance
During the last five days, there has been a drop of approximately -4.50%. Over the course of the year, Phillips 66 shares have dropped approximately -3.19%. 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 $137.39, while a 200-day SMA reached $141.22. Nevertheless, trading volume fell to 3.86 million shares from 1.98 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 127.35, which, if violated, would cause prices to drop to 125.81. In the upper region, resistance lies at 131.75. The next price resistance is at 134.61. RSI (Relative Strength Index) is 38.03 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.99, which suggests the price will decrease in the coming days. Percent R is at 98.19%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
