Phillips 66
About: Phillips 66 is an independent refiner with 12 refineries that have a total crude throughput capacity of 1.8 million barrels per day, or mmb/d. In 2023, the Rodeo, California, facility ceased operations and be converted to produce renewable diesel. The midstream segment comprises extensive transportation and NGL processing assets and includes DCP Midstream, which holds 600 mbd of NGL fractionation and 22,000 miles of pipeline. Its CPChem chemical joint venture operates facilities in the United States and the Middle East and primarily produces olefins and polyolefins.
Employees: 14,000
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
8% more call options, than puts
Call options by funds: $380M | Put options by funds: $352M
3% less funds holding
Funds holding: 1,752 [Q2] → 1,706 (-46) [Q3]
3.72% less ownership
Funds ownership: 75.69% [Q2] → 71.97% (-3.72%) [Q3]
11% less repeat investments, than reductions
Existing positions increased: 587 | Existing positions reduced: 661
13% less capital invested
Capital invested by funds: $45.3B [Q2] → $39.3B (-$6.02B) [Q3]
26% less first-time investments, than exits
New positions opened: 130 | Existing positions closed: 176
37% less funds holding in top 10
Funds holding in top 10: 27 [Q2] → 17 (-10) [Q3]
Research analyst outlook
13 Wall Street Analysts provided 1 year price targets over the past 3 months
13 analyst ratings
Barclays Theresa Chen 40% 1-year accuracy 8 / 20 met price target | 6%downside $124 | Equal-Weight Maintained | 11 Nov 2024 |
UBS Spiro Dounis 88% 1-year accuracy 7 / 8 met price target | 5%upside $138 | Buy Maintained | 4 Nov 2024 |
B of A Securities Jean Ann Salisbury 71% 1-year accuracy 10 / 14 met price target | 19%upside $156 | Buy Reinstated | 17 Oct 2024 |
Scotiabank Paul Cheng 26% 1-year accuracy 10 / 38 met price target | 4%upside $136 | Sector Outperform Maintained | 10 Oct 2024 |
Wells Fargo Roger Read 39% 1-year accuracy 33 / 85 met price target | 27%upside $167 | Overweight Maintained | 9 Oct 2024 |
Financial journalist opinion
Based on 12 articles about PSX published over the past 30 days
