Phillips 66 (NYSE:PSX) : Zacks Investment Research ranks Phillips 66 (NYSE:PSX) as 3, which is a Hold recommendation. 3 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 7 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 11 research analysts is 2.36, which indicates as a Buy.
Phillips 66 (NYSE:PSX) has been rated by 9 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $100 and the lowest price target forecast is $76. The average forecast of all the analysts is $89.22 and the expected standard deviation is $7.53.
Company shares have received an average consensus rating of Hold for the current week Also, Morgan Stanley downgrades its rating on Phillips 66 (NYSE:PSX). Analysts at the Morgan Stanley have a current rating of Equal-weight on the shares. The shares were previously rated Overweight. The rating by the firm was issued on June 17, 2016.
Phillips 66 (NYSE:PSX): stock turned positive on Tuesday. Though the stock opened at $78, the bulls momentum made the stock top out at $78.79 level for the day. The stock recorded a low of $77.07 and closed the trading day at $78.75, in the green by 2.41%. The total traded volume for the day was 2,479,020. The stock had closed at $76.9 in the previous days trading.
In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Phillips 66, Loomis William R Jr, had purchased 12,680 shares in a transaction dated on June 13, 2016. The transaction was executed at $78.86 per share with total amount equaling $999,945.
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.