Piper Jaffray Maintains Phillips 66 to Neutral with Price Target $75.00

Brokerage firm Piper Jaffray Maintains its rating on Phillips 66(NYSE:PSX). In a research note issued to the investors, the brokerage major Raises the price-target to $75.00 per share. The shares have been rated Neutral. The rating by Piper Jaffray was issued on Sep 16, 2016.

In a different note, On Aug 22, 2016, Piper Jaffray said it Maintains its rating on Phillips 66. In the research note, the firm Raises the price-target to $68.00 per share. The shares have been rated ‘Neutral’ by the firm. Jefferies said it Initiates Coverage on Phillips 66, according to a research note issued on Aug 22, 2016. The shares have been rated ‘Hold’ by the firm. On Aug 3, 2016, Cowen & Company said it Upgrades its rating on Phillips 66. The shares have been rated ‘Outperform’ by the firm. On Jul 13, 2016, Barclays said it Downgrades its rating on Phillips 66. In the research note, the firm Lowers the price-target to $93.00 per share. The shares have been rated ‘Equal-weight’ by the firm. On Jul 11, 2016, Scotia Howard Weil said it Downgrades its rating on Phillips 66. The shares have been rated ‘Sector Perform’ by the firm.

Phillips 66 (PSX) shares turned negative on Thursdays trading session with the shares closing down -0.04 points or -0.05% at a volume of 17,28,471. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $81.08. The peak price level was also seen at $81.08 while the days lowest was $80.01. Finally the shares closed at $80.03. The 52-week high of the shares is $94.12 while the 52-week low is $71.74. According to the latest information available, the market cap of the company is $41,844 M.

Phillips 66(PSX) last announced its earnings results on Jul 29, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $22.31B. Analysts had an estimated revenue of $25.52B. Earnings per share were $0.94. Analysts had estimated an EPS of $1.03.

Several Insider Transactions has been reported 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.Also, On Jun 30, 2016, Timothy Garth Taylor (President) sold 50,000 shares at $78.00 per share price.On Jun 14, 2016, William R Jr Loomis (director) purchased 12,680 shares at $78.86 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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