Shares of Phillips 66 (PSX) Sees Large Outflow of Money

Phillips 66 (PSX) : Money flow in the Phillips 66 (PSX) stock was negative (21.42 million) on Tuesday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $28.01 million, compared to $49.44 million on downticks. The total uptick to downtick ratio was 0.57, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($24.15 million), indicating selling on the strength. Downtick transaction value in block trades amounted to $24.15 million, indicating persistent selling. Phillips 66 (PSX) traded $0.45 higher at $79.33 gaining 0.57% over the previous days close.


Also, Brokerage firm Piper Jaffray maintains its rating on Phillips 66 (NYSE:PSX). As per the latest information, the brokerage house raises the price target to $74 per share from a prior target of $68. The shares have been rated Neutral. The rating by the firm was issued on August 22, 2016.

Shares of Phillips 66 rose by 1.94% in the last five trading days and 7.69% for the last 4 weeks. Phillips 66 has dropped 1.09% during the last 3-month period . Year-to-Date the stock performance stands at -0.7%.

Phillips 66 (NYSE:PSX): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $79.46 and $78.91 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $79.79. The buying momentum continued till the end and the stock did not give up its gains. It closed at $79.33, notching a gain of 0.57% for the day. The total traded volume was 1,980,763 . The stock had closed at $78.88 on the previous day.

In a related news,The Officer (Executive Vp And Gen Counsel) of Phillips 66, Johnson Paula Ann sold 40,141 shares at $79.57 on June 29, 2016. The Insider selling transaction had a total value worth of $3,194,019. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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.

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