102.77 0.00 (0.00%)
After hours: 6:18PM EDT
|Bid||102.40 x 1000|
|Ask||103.10 x 1000|
|Day's Range||102.08 - 106.86|
|52 Week Range||89.14 - 123.97|
|Beta (3Y Monthly)||1.01|
|PE Ratio (TTM)||8.69|
|Earnings Date||Oct 26, 2018|
|Forward Dividend & Yield||3.20 (2.93%)|
|1y Target Est||129.80|
Phillips 66 (PSX) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
North Dakota's daily crude production in August broke the previous all-time high set in July, while natural gas output and producing wells also hit records.
Volatility has returned to U.S. equity markets, with the Dow Jones Industrial Average falling as much as 300 points before recovering back to the unchanged line in mid-day trading on Wednesday. Investors were spooked by soft housing data showing that buyers are stepping back — despite an extremely strong labor market — as interest rates rise.
In this series, we have examined Marathon Petroleum’s (MPC) third-quarter estimates, refining earnings outlook, stock performance, and stock price estimate before its expected third-quarter earnings release on November 1. Now, we’ll review how analysts rate Marathon Petroleum.
We started this series with Marathon Petroleum’s (MPC) third-quarter earnings estimate. We reviewed the company’s refining earnings indicators trend in the third quarter. In the previous part, we discussed Marathon Petroleum’s stock performance in the past month.
Since September 14, Marathon Petroleum (MPC) stock has fallen. In this part, we’ll compare Marathon Petroleum’s stock returns to the SPDR S&P 500 ETF (SPY), which closely resembles the S&P 500 Index.
Marathon Petroleum (MPC) is scheduled to announce its third-quarter results on November 1. Before we proceed with the third-quarter estimates, let’s recap Marathon Petroleum’s second-quarter performance versus the estimates.
Independent refiners have outpaced the rest of the sector since last fall, when hurricane activity disrupted operations sufficiently to reduce inventories, inflating margins while creating bottlenecks that widened crude spreads. Despite normalization of operations, the strong margins and wide crude spreads have persisted, creating a very favorable environment for refiners. Although elevated gasoline inventories present a risk, distillate inventories are near five-year lows, while demand for both is strong and the economy is healthy, suggesting total margin strength will continue.
On October 15, Brent crude oil December futures settled ~$9 higher than the WTI crude oil November futures. On October 8, the spread was ~$9.62. On October 8–15, Brent crude oil December futures fell 3.7%—30 basis points more than the fall in WTI or US crude oil November futures. In the past five trading sessions, the United States Brent Oil ETF (BNO) has fallen 3.8%, while the United States Oil ETF (USO) has fallen 3.5%. BNO tracks Brent crude oil futures, while USO follows US crude oil futures.
Phillips 66 (NYSE:PSX) is one of the original U.S. oil companies, tracing its roots back to 1875. Today, PSX stock is one of the best choices in the sector.. Part of PSX began as the Continental Oil and Transportation Co in 1875.
In this article, we’ll review Wall Street analysts’ ratings for HollyFrontier (HFC) ahead of its third-quarter earnings release.
In this article, we’ll look at HollyFrontier’s (HFC) stock price forecast range, which is based on its current implied volatility, for the 21-day period leading up to its earnings.
In the previous article, we examined HollyFrontier’s (HFC) refining earnings expectation for the third quarter. Now, let’s review HollyFrontier’s stock performance since the beginning of the quarter. HFC has fallen in the stated period.
Short interest in Phillips 66 (PSX) expressed as a percentage of outstanding shares has risen 0.02 percentage points since August 29 to the current 1.17%. Usually, everything else being equal, a rise in short interest could indicate an increase in bearish sentiment for a stock. In that same period, Phillips 66 stock fell 1.7%.
On October 5, Phillips 66 announced a dividend payment of $0.80 per share to be paid on December 3. Its fourth-quarter dividend payment represents a 27% growth over the dividend it paid in Q4 2016. Phillips 66’s current dividend yield is 2.7%.
Phillips 66 has been rated by 18 Wall Street analysts. Eight (or 44%) of them have given it a “buy” or “strong buy” rating, nine (or 50%) have rated it a “hold,” and one has given it a “strong sell.” Phillips 66’s mean target price is $128 per share, which implies an ~8% gain from its current level.
In this part, we’ll look at the price forecast for Phillips 66 (PSX) stock based on its implied volatility for the 21-day period before its earnings release. Phillips 66 is expected to post its third-quarter earnings on October 26.
Short interest as a percentage of outstanding shares in Valero Energy (VLO) has fallen 0.5 percentage points since July 2, the beginning of the third quarter. It’s currently at 1.8%. That implies that bearish sentiment in the stock has decreased. Over the same period, Valero stock has risen 7.3%.
In the previous part of this series, we looked at Phillips 66’s (PSX) refining margin expectations for the third quarter of 2018. Now, let’s look at PSX stock and how it has performed since July 2, the beginning of the third quarter. We’ll also see how the SPDR S&P 500 ETF (SPY), the broader market indicator, and the US Gulf Coast WTI 3-2-1, the benchmark crack, have performed.
On October 8, Brent crude oil December futures settled ~$9.62 higher than the WTI crude oil November futures. On October 1, the spread was ~$9.68. Between October 1 and October 8, Brent crude oil December futures fell 1.3%, the same as the fall in WTI or US crude oil November futures. In the past five trading sessions, the United States Brent Oil ETF (BNO) has fallen 1.3%, while the United States Oil ETF (USO) has fallen 1.7%. BNO tracks Brent crude oil futures, and USO follows US crude oil futures.
In the previous part of this series, we saw that Wall Street analysts expect a decent performance from Phillips 66 (PSX) in the third quarter of 2018. In the third quarter, analysts believe Phillips 66’s refining margins could fall. Weaker indicators suggest lower refining margins for these refiners in Q3 2018.