The implied volatility in PBF Energy has fallen by 4.1 percentage points since June 7 to the current level of 41.6%. The implied volatility in Valero Energy and HollyFrontier has fallen by 4.1 percentage points and 2.5 percentage points, respectively, since June 7 to 27.8% and 34.0%. Phillips 66’s stock price could close between $102.6 per share and $92.8 per share in the next 17 days ending on July 26. The forecast assumes a normal distribution of prices and one standard deviation, which means a probability of 68.2%. Phillips 66’s stock price range is estimated using it’s implied volatility of 23.3%. Phillips 66’s stock price has risen 14.7% during the same period. Since June 7, the implied volatility in Phillips 66 has declined by 0.8 percentage points to the current level of 23.3%. Phillips 66’s stock forecast until earnings HollyFrontier (HFC) and PBF Energy (PBF) have fallen 5.9% and 6.3%, respectively, during the same period. Valero Energy (VLO) and Marathon Petroleum (MPC) have fallen 3.1% and 8.7%, respectively. Overall, Phillips 66 has risen 2.7% since April 1. To learn more, read Phillips 66 Posts Weak First-Quarter Earnings. A rise in midstream earnings partially offset the fall in profits in other segments. Phillips 66’s adjusted pre-tax earnings fell due to a year-over-year fall in the refining, chemicals, and marketing and specialties earnings.
Phillips 66’s adjusted net earnings, attributable to its shareholders, fell from $0.6 billion in the first quarter of 2018 to $0.3 billion in the first quarter due to lower adjusted pre-tax earnings. Phillips 66 posted better-than-expected first-quarter earnings in April. Besides refining conditions and equity markets, Phillips 66 stock was impacted by its first-quarter earnings.
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