Phillips 66PSX
Market Cap: $53.6B
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 Q2 SEC filings by fund managers ($100M+ AUM)
19% more call options, than puts
Call options by funds: $493M | Put options by funds: $416M
8% less repeat investments, than reductions
Existing positions increased: 629 | Existing positions reduced: 680
1.74% less ownership
Funds ownership: 75.76% [Q1] → 74.02% (-1.74%) [Q2]
5% less funds holding
Funds holding: 1,837 [Q1] → 1,736 (-101) [Q2]
16% less capital invested
Capital invested by funds: $52.7B [Q1] → $44.3B (-$8.44B) [Q2]
33% less funds holding in top 10
Funds holding in top 10: 40 [Q1] → 27 (-13) [Q2]
48% less first-time investments, than exits
New positions opened: 108 | Existing positions closed: 209
Research analyst outlook
12 Wall Street Analysts provided 1 year price targets over the past 3 months
12 analyst ratings
Wells Fargo Roger Read 29% 1-year accuracy 22 / 76 met price target | 42%upside $182 | Overweight Maintained | 3 Sept 2024 |
Barclays Theresa Chen 41% 1-year accuracy 9 / 22 met price target | 8%upside $138 | Equal-Weight Maintained | 5 Aug 2024 |
TD Cowen Jason Gabelman 42% 1-year accuracy 8 / 19 met price target | 26%upside $162 | Buy Maintained | 31 Jul 2024 |
Raymond James Justin Jenkins 62% 1-year accuracy 23 / 37 met price target | 21%upside $155 | Outperform Maintained | 31 Jul 2024 |
Wells Fargo Roger Read 29% 1-year accuracy 22 / 76 met price target | 37%upside $176 | Overweight Maintained | 31 Jul 2024 |
Financial journalist opinion
Based on 8 articles about PSX published over the past 30 days