Analyst Rating Update on Phillips 66 (PSX)

Phillips 66 (PSX) has an average broker rating of 2.92, which is interpreted as a Hold, as rated by 12 equity analysts. 1 other analysts advise a Buy. Nevertheless, the majority of 11 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 5, which is also a Strong Sell.

Phillips 66 (PSX) : The consensus price target for Phillips 66 (PSX) is $84.89 for the short term with a standard deviation of $7.82. The most optimist securities analyst among the 9 who monitor the stock believes that the stock can reach $93, however, the pessimist price target for the company is $68.

Company shares have received an average consensus rating of Hold for the current week Also, Barclays downgrades its view on Phillips 66 (NYSE:PSX) according to the research report released by the firm to its investors. The shares have now been rated Equal-weight by the stock experts at the ratings house. Earlier, the shares had a rating of Overweight. Barclays lowers the price target from $93 per share to $86 per share on Phillips 66. The rating by the firm was issued on July 13, 2016.


Phillips 66 (NYSE:PSX): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $76.60 and $76.30 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $78.74. The buying momentum continued till the end and the stock did not give up its gains. It closed at $78.66, notching a gain of 3.30% for the day. The total traded volume was 4,582,272 . The stock had closed at $76.15 on the previous day.

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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