Phillips 66 (PSX) Receives Price Target

Phillips 66 (PSX) : The consensus price target for Phillips 66 (PSX) is $85.11 for the short term with a standard deviation of $7.61. 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 $72.

Phillips 66 (PSX) has an average broker rating of 2.75, which is interpreted as a Hold, as rated by 12 equity analysts. Nonetheless, 1 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 10 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.


Also, Brokerage firm Piper Jaffray maintains its rating on Phillips 66 (NYSE:PSX). As per the latest information, the brokerage house raises the price target to $74 per share from a prior target of $68. The shares have been rated Neutral. The rating by the firm was issued on August 22, 2016.

Phillips 66 (NYSE:PSX): The stock opened at $78.93 on Thursday but the bulls could not build on the opening and the stock topped out at $78.93 for the day. The stock traded down to $77.66 during the day, due to lack of any buying support eventually closed down at $78.29 with a loss of -0.20% for the day. The stock had closed at $78.45 on the previous day. The total traded volume was 2,165,433 shares.

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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