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Phillips 66 Stock: Near 52-Week High, Steady Growth
1 Dec
Summary
- Phillips 66 stock is trading near its 52-week high, up 3.1% in three months.
- Robust Q3 results show record refining and midstream volumes.
- Analysts maintain a 'Moderate Buy' rating with an 8.6% upside potential.
Houston-based Phillips 66, a significant player in energy manufacturing and logistics, is exhibiting strong market performance. The company's stock is currently trading near its 52-week high, reflecting a 3.1% increase over the past three months, despite trailing the Nasdaq Composite.
Recently, Phillips 66 reported impressive Q3 results. Its refining and midstream segments have set new records for year-to-date clean product yield and fractionation volumes. Total revenues exceeded expectations by 16.6%, and adjusted EPS surpassed estimates by a substantial 21.7%.
With a market capitalization of $55.2 billion, Phillips 66 is classified as a large-cap stock. Analysts are largely positive, with a consensus 'Moderate Buy' rating and a mean price target suggesting an 8.6% potential increase, underscoring the company's sustained uptrend.
