Houston, Texas-based Phillips 66 (PSX) is a diversified energy manufacturing and logistics company primarily engaged in refining crude oil, transporting energy products, and manufacturing petrochemicals. The company operates through four main segments: Midstream, Chemicals, Refining, and Marketing & Specialties. With a market cap of $64.2 billion, Phillips 66's operations span numerous countries across the Americas, Europe, and internationally.
Companies worth $10 billion or more are generally described as “large-cap stocks.” PSX fits the bill perfectly. Phillips 66 also markets refined fuels and specialty products through wholesale channels and branded outlets, positioning it as a major player in the U.S. downstream oil and gas sector.
Phillips 66 touched its 52-week high of $163.79 on Feb. 12 and is currently trading 4.4% below that peak. Moreover, PSX stock prices have gained 14.3% over the past three months, outperforming the Dow Jones Industrial Average’s ($DOWI) 1.3% rise during the same time frame.
Phillips 66 has outperformed the broader market over the longer term as well. PSX stock prices have surged 22.4% over the past six months and 27.8% over the past 52 weeks, compared to the DOWI’s 7.1% surge and 12.3% gains over the same time frames.
PSX stock has traded above its 50-day moving average since early January and above its 200-day moving average since mid-August, underscoring its uptrend.
Shares of Phillips 66 climbed more than 3% on Mar. 2 as energy stocks rallied after West Texas Intermediate crude oil (WTI) surged over 6% to an 8.25-month high, boosting sentiment across the oil and refining sector.
While Phillips 66 has surpassed its peer Marathon Petroleum Corporation’s (MPC) 18.4% surge over the past six months, it has lagged behind MPC’s 45.4% gains over the past 52 weeks.
Among the 21 analysts covering the PSX stock, the consensus rating is a “Moderate Buy.” The stock currently trades above the mean price target of $157.76.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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