Houston, Texas-based Phillips 66 (PSX) is a diversified energy manufacturing and logistics company primarily engaged in refining crude oil, transporting energy products, and manufacturing petrochemicals. The company operates through four main segments: Midstream, Chemicals, Refining, and Marketing & Specialties. With a market cap of $64.2 billion, Phillips 66's operations span numerous countries across the Americas, Europe, and internationally.
Companies worth $10 billion or more are generally described as “large-cap stocks.” PSX fits the bill perfectly. Phillips 66 also markets refined fuels and specialty products through wholesale channels and branded outlets, positioning it as a major player in the U.S. downstream oil and gas sector.
Phillips 66 touched its 52-week high of $163.79 on Feb. 12 and is currently trading 4.4% below that peak. Moreover, PSX stock prices have gained 14.3% over the past three months, outperforming the Dow Jones Industrial Average’s ($DOWI) 1.3% rise during the same time frame.
Phillips 66 has outperformed the broader market over the longer term as well. PSX stock prices have surged 22.4% over the past six months and 27.8% over the past 52 weeks, compared to the DOWI’s 7.1% surge and 12.3% gains over the same time frames.
PSX stock has traded above its 50-day moving average since early January and above its 200-day moving average since mid-August, underscoring its uptrend.
Shares of Phillips 66 climbed more than 3% on Mar. 2 as energy stocks rallied after West Texas Intermediate crude oil (WTI) surged over 6% to an 8.25-month high, boosting sentiment across the oil and refining sector.
While Phillips 66 has surpassed its peer Marathon Petroleum Corporation’s (MPC) 18.4% surge over the past six months, it has lagged behind MPC’s 45.4% gains over the past 52 weeks.
Among the 21 analysts covering the PSX stock, the consensus rating is a “Moderate Buy.” The stock currently trades above the mean price target of $157.76.
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