JP Morgan Maintains Phillips 66 to Neutral with Price Target $79.00

Brokerage firm JP Morgan Maintains its rating on Phillips 66(NYSE:PSX). In a research note issued to the investors, the brokerage major Lowers the price-target to $79.00 per share. The shares have been rated Neutral. The rating by JP Morgan was issued on Jun 10, 2016.

In a different note, UBS said it Initiates Coverage on Phillips 66, according to a research note issued on May 19, 2016. The shares have been rated ‘Neutral’ by the firm. On May 2, 2016, Barclays said it Maintains its rating on Phillips 66. In the research note, the firm Lowers the price-target to $97.00 per share. The shares have been rated ‘Overweight’ by the firm. On Apr 20, 2016, Citigroup said it Downgrades its rating on Phillips 66. The shares have been rated ‘Hold’ by the firm. On Apr 8, 2016, Barclays said it Maintains its rating on Phillips 66. In the research note, the firm Lowers the price-target to $102.00 per share. The shares have been rated ‘Overweight’ by the firm. Cowen & Company said it Initiates Coverage on Phillips 66, according to a research note issued on Mar 28, 2016. The shares have been rated ‘Market Perform’ by the firm.

Phillips 66 (PSX) made into the market gainers list on Wednesdays trading session with the shares advancing 0.30% or 0.24 points. Due to strong positive momentum, the stock ended at $79.14, which is also near the day’s high of $79.97. The stock began the session at $78.63 and the volume stood at 23,21,731 shares. The 52-week high of the shares is $94.12 and the 52 week low is $69.79. The company has a current market capitalization of $41,595 M and it has 52,55,81,459 shares in outstanding.

Phillips 66(PSX) last announced its earnings results on Apr 29, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $17.76B. Analysts had an estimated revenue of $20.73B. Earnings per share were $0.67. Analysts had estimated an EPS of $0.87.

Several Insider Transactions has been reported to the SEC. On Jun 6, 2016, Greg C. Garland (Chairman and CEO) sold 62,500 shares at $80.22 per share price.Also, On Mar 7, 2016, Chukwuemeka A. Oyolu (Vice President & Controller) sold 2,576 shares at $82.98 per share price.On Nov 6, 2015, Lawrence Michael Ziemba (Executive VP, Refining) sold 74,467 shares at $93.38 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.

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