Phillips 66 Lowered to Hold at Argus (PSX)
Phillips 66 (NYSE:PSX) was downgraded by equities researchers at Argus from a “buy” rating to a “hold” rating in a research report issued on Monday, TheFlyOnTheWall.com reports. They currently have a $6.89 price target on the stock, down from their previous price target of $7.25. Argus’ price target points to a potential downside of 88.00% from the company’s current price. The analysts noted that the move was a valuation call.
A number of other firms have also recently commented on PSX. Analysts at Oppenheimer cut their price target on shares of Phillips 66 (NYSE:PSX) from $80.00 to $75.00 in a research note to investors on Monday, August 12th. They now have an “outperform” rating on the stock. They noted that the move was a valuation call. Analysts at TheStreet reiterated a “hold” rating on shares of Phillips 66 (NYSE:PSX) in a research note to investors on Thursday, June 27th.
Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $60.39.
Phillips 66 (NYSE:PSX) opened at 57.42 on Monday. Phillips 66 has a 52 week low of $42.45 and a 52 week high of $70.52. The stock has a 50-day moving average of $58.24 and a 200-day moving average of $61.70. The company has a market cap of $35.085 billion and a P/E ratio of 7.78.
Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, July 31st. The company reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by $0.31. During the same quarter in the previous year, the company posted $2.23 earnings per share. On average, analysts predict that Phillips 66 will post $6.84 earnings per share for the current fiscal year.
Phillips 66 is a holding company. The Company is engaged in producing natural gas liquids (NYSE:PSX) and petrochemicals.
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