Price Target Update on Phillips 66 (NYSE:PSX)

Phillips 66 (NYSE:PSX) has been rated by 9 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $100 and the lowest price target forecast is $76. The average forecast of all the analysts is $89.22 and the expected standard deviation is $7.53.

Other Equity analysts have also commented on the company shares. In a research note released to the investors, Morgan Stanley downgrades its rating on Phillips 66 (NYSE:PSX).The analysts at the brokerage house have a current rating of Equal-weight on the shares. Earlier, the shares were rated a Overweight by the brokerage firm. The rating by the firm was issued on June 17, 2016.

Phillips 66 (NYSE:PSX): stock turned positive on Thursday. Though the stock opened at $80.02, the bulls momentum made the stock top out at $80.87 level for the day. The stock recorded a low of $79.6 and closed the trading day at $80.87, in the green by 1.67%. The total traded volume for the day was 2,097,293. The stock had closed at $79.54 in the previous days trading.

The company shares have rallied 0.82% from its 1 Year high price. On Nov 4, 2015, the shares registered one year high at $94.12 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $79.43 and the 200 Day Moving Average price is recorded at $81.81. On the companys insider trading activities, The Securities and Exchange Commission has divulged in a Form 4 filing that the director of Phillips 66, Loomis William R Jr had purchased shares worth of $999,945 in a transaction dated on June 13, 2016. A total of 12,680 shares were purchased at a price of $78.86 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

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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