Credit Suisse Maintains Phillips 66 to Neutral with Price Target $85.00

Brokerage firm Credit Suisse Maintains its rating on Phillips 66(NYSE:PSX). In a research note issued to the investors, the brokerage major Lowers the price-target to $85.00 per share. The shares have been rated Neutral. The rating by Credit Suisse was issued on Apr 11, 2016.

In a different note, Cowen & Company said it Initiates Coverage on Phillips 66, according to a research note issued on Mar 28, 2016. The shares have been rated ‘Market Perform’ by the firm. On Feb 9, 2016, Deutsche Bank said it Maintains its rating on Phillips 66. In the research note, the firm Lowers the price-target to $100.00 per share. The shares have been rated ‘Hold’ by the firm. On Jan 26, 2016, Credit Suisse said it Maintains its rating on Phillips 66. According to the research note, Credit Suisse Lowers the price target to $85 per share from a prior target of $95. The shares have been rated ‘Outperform’ by the firm. On Jan 26, 2016, Deutsche Bank said it Maintains its rating on Phillips 66. According to the research note, Deutsche Bank Lowers the price target to $100 per share from a prior target of $103. The shares have been rated ‘Hold’ by the firm.

Phillips 66 (PSX) shares turned negative on Fridays trading session with the shares closing down -2.07 points or -2.38% at a volume of 27,23,372. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $86.66. The peak price level was also seen at $86.66 while the days lowest was $84.85. Finally the shares closed at $84.85. The 52-week high of the shares is $94.12 while the 52-week low is $69.79. According to the latest information available, the market cap of the company is $44,755 M.

Phillips 66(PSX) last announced its earnings results on Jan 29, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $22.03B. Analysts had an estimated revenue of $22.32B. Earnings per share were $1.31. Analysts had estimated an EPS of $1.35.

Several Insider Transactions has been reported to the SEC. On Mar 7, 2016, Chukwuemeka A. Oyolu (Vice President & Controller) sold 2,576 shares at $82.98 per share price.Also, On Nov 6, 2015, Lawrence Michael Ziemba (Executive VP, Refining) sold 74,467 shares at $93.38 per share price.On Nov 4, 2015, Robert A Herman (Executive Vice President) sold 4,012 shares at $90.72 per share price, according to the Form-4 filing with the securities and exchange commission.

Phillips 66 is an energy manufacturing and logistics company with midstream chemicals refining and marketing and specialties businesses. The Company operates its business through four segments: midstream chemicals refining and marketing and specialties. It gathers processes transports and markets natural gas and transports fractionates and markets natural gas liquids (NGL) in the United States. The Chemical segment manufactures and markets petrochemicals and plastics. The Chemicals segment consists of its 50% equity investment in Chevron Phillips Chemical Company LLC (CPChem). The refining segment buys sells and refines crude oil and other feedstocks into petroleum products (such as gasolines distillates and aviation fuels) at 14 refineries mainly in the United States and Europe. The Marketing and Specialties segment purchases for resale and markets refined petroleum products (such as gasolines distillates and aviation fuels) mainly in the United States and Europe.

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