Phillips 66 (PSX) Stock Soaring – What's Behind the Surge?

This evening we watched Phillips 66 rise 1.2% to a price of $137.67 per share. The Large-Cap Oil & Gas Integrated company is now trading -17.03% below its average target price of $165.92. Analysts have set target prices ranging from $147.0 to $191.0 per share for Phillips 66, and have given the stock an average rating of buy.

Phillips 66's short interest — meaning the percentage of the share float that is being shorted — is lower than average at 2.0%. The stock's short ratio is 3.72. The company's insiders own 0.42% of its outstanding shares, which indicates a strong alignment between management and shareholder interests.

Another number to watch is the company's rate of institutional share ownership, which now stands at 76.9%. In conclusion, we believe there is mixed market sentiment regarding Phillips 66.

Institutions Invested in Phillips 66

Date Reported Holder Percentage Shares Value
2024-03-31 Vanguard Group Inc 10% 41,271,077 $5,681,789,095
2024-03-31 Blackrock Inc. 8% 34,113,974 $4,696,470,738
2024-03-31 State Street Corporation 7% 27,894,901 $3,840,290,969
2024-03-31 Wells Fargo & Company 4% 16,784,293 $2,310,693,586
2024-03-31 Wellington Management Group, LLP 3% 14,144,978 $1,947,339,095
2024-03-31 Geode Capital Management, LLC 2% 10,003,972 $1,377,246,806
2024-03-31 Bank Of New York Mellon Corporation 2% 8,019,795 $1,104,085,162
2024-03-31 Harris Associates L.P. 2% 7,533,473 $1,037,133,214
2024-03-31 Barclays Plc 2% 7,150,133 $984,358,797
2024-03-31 Morgan Stanley 2% 6,796,450 $935,667,259
The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.