Phillips 66 (PSX) Receives ‘Analyst’ Rating

Phillips 66 (PSX) : Zacks Investment Research ranks Phillips 66 (PSX) as 5, which is a Strong Sell recommendation. 1 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 1 other analysts are mildly bullish on the stock and favor a Buy. A total of 10 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 12 research analysts is 2.75, which indicates as a Hold.

Phillips 66 (PSX) : 9 Wall Street analysts covering Phillips 66 (PSX) believe that the average level the stock could reach for the short term is $85.11. The maximum price target given is $93 and the minimum target for short term is around $72, hence the standard deviation is calculated at $7.61.


Also, Equity Analysts at the Brokerage Firm, Piper Jaffray, maintains their rating on the shares of Phillips 66 (NYSE:PSX). Piper Jaffray has a Neutral rating on the shares. As per the latest research report, the brokerage house raises the price target to $74 per share from a prior target of $68. The rating by the firm was issued on August 22, 2016.

Phillips 66 (NYSE:PSX): After opening at $77.43, the stock dipped to an intraday low of $77.1 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $79.53 and the buying power remained strong till the end. The stock closed at $79.1 for the day, a gain of 2.77% for the day session. The total traded volume was 2,885,369. The stocks close on the previous trading day was $76.97.

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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