Fintel reports that on January 3, 2025, Wolfe Research upgraded their outlook for Phillips 66 (NYSE:PSX) from Peer Perform to Outperform.
Analyst Price Forecast Suggests 27.63% Upside
As of December 23, 2024, the average one-year price target for Phillips 66 is $146.02/share. The forecasts range from a low of $124.75 to a high of $169.05. The average price target represents an increase of 27.63% from its latest reported closing price of $114.41 / share.
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The projected annual revenue for Phillips 66 is 120,476MM, a decrease of 18.45%. The projected annual non-GAAP EPS is 8.87.
What is the Fund Sentiment?
There are 2,706 funds or institutions reporting positions in Phillips 66. This is an decrease of 41 owner(s) or 1.49% in the last quarter. Average portfolio weight of all funds dedicated to PSX is 0.30%, an increase of 14.31%. Total shares owned by institutions decreased in the last three months by 0.66% to 346,106K shares. 
The put/call ratio of PSX is 0.94, indicating a bullish outlook.
What are Other Shareholders Doing?
Wells Fargo holds 16,153K shares representing 3.91% ownership of the company. In its prior filing, the firm reported owning 16,621K shares , representing a decrease of 2.89%. The firm decreased its portfolio allocation in PSX by 71.82% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 13,266K shares representing 3.21% ownership of the company. In its prior filing, the firm reported owning 13,385K shares , representing a decrease of 0.90%. The firm decreased its portfolio allocation in PSX by 13.32% over the last quarter.
XLE - The Energy Select Sector SPDR Fund holds 11,154K shares representing 2.70% ownership of the company. In its prior filing, the firm reported owning 11,736K shares , representing a decrease of 5.22%. The firm decreased its portfolio allocation in PSX by 5.51% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 10,963K shares representing 2.65% ownership of the company. In its prior filing, the firm reported owning 10,881K shares , representing an increase of 0.75%. The firm decreased its portfolio allocation in PSX by 13.66% over the last quarter.
Harris Associates L P holds 9,795K shares representing 2.37% ownership of the company. In its prior filing, the firm reported owning 8,447K shares , representing an increase of 13.76%. The firm decreased its portfolio allocation in PSX by 18.22% over the last quarter.
Phillips 66 Background Information
(This description is provided by the company.)
Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company's master limited partnership, is integral to the portfolio. Headquartered in Houston, the company has 14,300 employees committed to safety and operating excellence. Phillips 66 had $55 billion of assets as of Dec. 31, 2020.
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