Phillips 66 (PSX)

• Market cap: $49.8B
• 1 day: 0.75%
• 5 days: 5.73%
• 1 month: 4.06%
• 3 months: -9.61%
• 6 months: -14.36%
• Year to date: 5.35%
• 1 year: -6.03%
• 5 years: 16.67%
• 10 years: 89.45%
• Sector: Energy
• Industry: Petroleum Refining

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)

9% more call options, than puts

Call options by funds: $386M | Put options by funds: $352M

7% more first-time investments, than exits

New positions opened: 135 | Existing positions closed: 126

1% less funds holding

Funds holding: 1,755 [Q2] → 1,737 (-18) [Q3]

3.74% less ownership

Funds ownership: 76.68% [Q2] → 72.94% (-3.74%) [Q3]

12% less repeat investments, than reductions

Existing positions increased: 595 | Existing positions reduced: 673

13% less capital invested

Capital invested by funds: $45.9B [Q2] → $39.8B (-$6.08B) [Q3]

33% less funds holding in top 10

Funds holding in top 10: 27 [Q2] → 18 (-9) [Q3]

Research analyst outlook

4 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $115 5% downside
• Avg. target: $140 16% upside
• High target: $161 34% upside

4 analyst ratings

• positive: 2 50%
• neutral: 2 50%
• negative: 0 0%

Barclays Theresa Chen 32% 1-year accuracy 9 / 28 met price target	5% downside $115	Equal-Weight Maintained	13 Jan 2025
Mizuho Nitin Kumar 56% 1-year accuracy 41 / 73 met price target	22% upside $147	Neutral Maintained	16 Dec 2024
Wells Fargo Roger Read 41% 1-year accuracy 43 / 104 met price target	34% upside $161	Overweight Maintained	9 Dec 2024
UBS Spiro Dounis 84% 1-year accuracy 26 / 31 met price target	14% upside $138	Buy Maintained	4 Nov 2024