Short Term Price Target on Phillips 66 (PSX)

Phillips 66 (NYSE:PSX) : 9 Wall Street analysts covering Phillips 66 (NYSE:PSX) believe that the average level the stock could reach for the short term is $89.22. The maximum price target given is $100 and the minimum target for short term is around $76, hence the standard deviation is calculated at $7.53.

Phillips 66 has lost 1.89% in the last five trading days and dropped 1.87% in the last 4 weeks. Phillips 66 has dropped 6.64% during the last 3-month period . Year-to-Date the stock performance stands at -1.49%. Also, Morgan Stanley downgrades its rating on Phillips 66 (NYSE:PSX). Analysts at the Morgan Stanley have a current rating of Equal-weight on the shares. The shares were previously rated Overweight. The rating by the firm was issued on June 17, 2016.

Phillips 66 (NYSE:PSX) has an average broker rating of 2.36, which is interpreted as a Buy, as rated by 11 equity analysts. Nonetheless, 3 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. 1 other analysts advise a Buy. Nevertheless, the majority of 7 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold.

Phillips 66 (NYSE:PSX): The stock opened at $79.40 on Thursday but the bulls could not build on the opening and the stock topped out at $79.49 for the day. The stock traded down to $77.71 during the day, due to lack of any buying support eventually closed down at $79.34 with a loss of -0.45% for the day. The stock had closed at $79.70 on the previous day. The total traded volume was 3,505,627 shares.

In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Phillips 66, Loomis William R Jr, had purchased 12,680 shares in a transaction dated on June 13, 2016. The transaction was executed at $78.86 per share with total amount equaling $999,945.

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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