Phillips 66 (PSX) was Upgraded by Goldman to ” Neutral”. Earlier the firm had a rating of “Sell ” on the company shares. Goldman advised their investors in a research report released on Sep 30, 2016.
Many Wall Street Analysts have commented on Phillips 66. Phillips 66 was Initiated by Jefferies to “Hold” on Aug 23, 2016. Cowen Upgraded Phillips 66 on Aug 3, 2016 to ” Outperform”, Price Target of the shares are set at $92.Phillips 66 was Downgraded by Scotia Howard Weil to ” Sector Perform” on Jul 11, 2016.
On the company’s financial health, Phillips 66 reported $0.94 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 29, 2016. Analyst had a consensus of $0.93.Analysts expectations of $ 29056.46.During the same quarter in the previous year, the company posted $1.83 EPS.
Phillips 66 closed down -0.06 points or -0.08% at $79.41 with 22,74,587 shares getting traded on Tuesday. Post opening the session at $79.02, the shares hit an intraday low of $78.92 and an intraday high of $79.8248 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on Sep 22, 2016, Robert A Herman (Executive Vice President) sold 4,372 shares at $79.07 per share price. According to the SEC, on Jun 30, 2016, Paula Ann Johnson (Executive VP and Gen Counsel) sold 40,141 shares at $79.57 per share price. On Jun 30, 2016, Timothy Garth Taylor (President) sold 50,000 shares at $78.00 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.