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Tuesday, December 1, 2020

The Rejuvenation of Phillips 66 (NYSE:PSX)

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Phillips 66 (PSX) shares are trading at lower $61.63 and the avg recommendation for the stock is Strong Buy. while the current analyst price target stands at $82.22.

To add more color to this target, the company’s high over the last year is $119.92 and the low is $40.04. Over the last 52 weeks, PSX is down -36.01% while the S&P 500 is up 19.49%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, PSX reported a profit of $-322.0 million. Phillips 66 also saw revenues decrease to $11.18 billion. In addition, PSX has free cash flow of -$881.0 million as of 06-2020. The company’s EBITDA came in at $26.0 million which compares well with its peers.

PSX booked profit margins of -1.40%, its Return on Equity (ROE) is -5.20%, and its Return on Assets is -2.10%. All told, it is clear that, PSX needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. PSX has a short ratio of 1.80 and outstanding shares of 438.76M.

Company Outlook

PSX has seen increased volume after this news and investors are putting their support behind the value proposition. Traders will also note the company’s earnings per share came in at -2.66. Phillips 66 PSX also noted assets of $54.52 billion at the end of the last quarter. Investors should also keep an eye on sector updates as PSX has historically followed its peers on positive news.

All told, Phillips 66 PSX has strung together solid data and demonstrated underlying fundamentals. At its current valuation, PSX represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Phillips 66 PSX is now commanding a market cap of 26.91B and a float of 435.21M. PSX is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of PSX stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in PSX, either long or short, and we have not been compensated for this article.

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