NYSE:PSXOil and Gas
Is Phillips 66 (PSX) Overvalued Even After Its $10b Buyback?
Phillips 66 stock has delivered a very strong run over the past five years, yet the current valuation checks suggest the shares are not a clear bargain at today’s levels.
Over the past 5 years Phillips 66 has returned 228.8%, which puts recent gains front and center for anyone thinking about new money going into the stock.
The recent $10b increase in share repurchase authorization can support earnings per share and valuation. However, the company’s high debt and balance sheet constraints may...