Phillips 66 (NYSE:PSX) has tumbled 1.96% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 0.77% in the last four weeks. The stocks are negative as compared to the S&P 500 for the past week with a loss of 0.78%. Phillips 66 (NYSE:PSX) has underperformed the index by 0.15% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Phillips 66 (NYSE:PSX): The stock opened at $79.34 on Friday but the bulls could not build on the opening and the stock topped out at $79.46 for the day. The stock traded down to $78.28 during the day, due to lack of any buying support eventually closed down at $78.50 with a loss of -1.17% for the day. The stock had closed at $79.43 on the previous day. The total traded volume was 4,086,541 shares.
The company shares have dropped -1.38% from its 1 Year high price. On Nov 4, 2015, the shares registered one year high at $94.12 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $79.61 and the 200 Day Moving Average price is recorded at $82.12.
On the companys insider trading activities, The Securities and Exchange Commission has divulged in a Form 4 filing that the director of Phillips 66, Loomis William R Jr had purchased shares worth of $999,945 in a transaction dated on June 13, 2016. A total of 12,680 shares were purchased at a price of $78.86 per share. The information is based on open market trades at the market prices.Option exercises are not covered.
Many analysts have stated their opinion on the company shares. In a research note released to the investors, Morgan Stanley downgrades its rating on Phillips 66 (NYSE:PSX).The analysts at the brokerage house have a current rating of Equal-weight on the shares. Earlier, the shares were rated a Overweight by the brokerage firm. The rating by the firm was issued on June 17, 2016. Currently the company Insiders own 0.05% of Phillips 66 shares according to the proxy statements. Institutional Investors own 72.64% of Phillips 66 shares. During last six month period, the net percent change held by insiders has seen a change of -34.11%.
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing and specialties businesses. The Company operates its business through four segments: midstream, chemicals, refining and marketing and specialties. It gathers, processes, transports and markets natural gas, and transports, fractionates and markets natural gas liquids (NGL) in the United States. The Chemical segment manufactures and markets petrochemicals and plastics. The Chemicals segment consists of its 50% equity investment in Chevron Phillips Chemical Company LLC (CPChem). The refining segment buys, sells and refines crude oil and other feedstocks into petroleum products (such as gasolines, distillates and aviation fuels) at 14 refineries, mainly in the United States and Europe. The Marketing and Specialties segment purchases for resale and markets refined petroleum products (such as gasolines, distillates and aviation fuels), mainly in the United States and Europe.