Phillips 66 (PSX) : The most positive equity analysts on Phillips 66 (PSX) expects the shares to touch $93, whereas, the least positive believes that the stock will trade at $68 in the short term. The company is covered by 9 Wall Street Brokerage Firms. The average price target for shares are $86 with an expected fluctuation of $8.31 from the mean.
Phillips 66 (PSX) has shown a rise of 1.9% or 263,791 shares in the short positions. The bets have increased to 14,156,089 shares on June 30,2016 from 13,892,298 shares on June 15,2016. With respect to the floated shares, the shorts are 2.8%. The days to cover are calculated to be 5, using the standard per day volume of 2,985,840 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.
Also, Brokerage firm Morgan Stanley downgrades its rating on Phillips 66 (NYSE:PSX). The shares have been rated Equal-weight. Previously, the analysts had a Overweight rating on the shares. 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 $76.36, the bulls momentum made the stock top out at $76.81 level for the day. The stock recorded a low of $76.06 and closed the trading day at $76.61, in the green by 0.47%. The total traded volume for the day was 2,901,024. The stock had closed at $76.25 in the previous days trading.
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.