The recent press on Phillips 66 (PSX) reveals a mixture of bullish and bearish signals. Noteworthy activity includes several institutional investors increasing their positions in PSX, which includes ZWJ Investment Counsel Inc., Truist Financial Corp, F&V Capital Management LLC, Hilltop National Bank, and Vanguard Capital Wealth Advisors. Furthermore, various securities firms maintained their neutral or equal weight recommendations while Mariner Investment Group LLC and San Luis Wealth Advisors LLC made significant investments in PSX. Jim Cramer, famed Wall Street figure, has touted PSX as a timely buy.
Despite these positive notes, Phillips 66’s announcement of a $100 million charge related to the idling of a Los Angeles refinery could represent a significant operational challenge. The company nevertheless remains committed to enhancing flexibility and robust dividend outlook, even as it initiates a strategic shift towards LNG contracts. The downward trajectory of the PSX stock in the backdrop of market gain remains a concern. However, with some seeing the overreaction to an Elliot victory as an opportunity, the bullish movement suggests that PSX may still have potential as a strong buy-and-hold income stock. Morgan Stanley has raised their price target to $140, bringing further attention to PSX.
Phillips 66 PSX News Analytics from Sat, 26 Apr 2025 07:00:00 GMT to Sat, 04 Oct 2025 10:04:31 GMT - Rating 3 - Innovation 0 - Information 8 - Rumor -3
