Phillips 66 Price Target Cut to $71.00 by Analysts at Morgan Stanley (PSX)
Investment analysts at Morgan Stanley dropped their price objective on shares of Phillips 66 (NYSE:PSX) from $79.00 to $71.00 in a note issued to investors on Tuesday, AnalystRatingsNetwork.com reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 22.63% from the stock’s previous close.
A number of other analysts have also recently weighed in on PSX. Analysts at Citigroup Inc. initiated coverage on shares of Phillips 66 (NYSE:PSX) in a research note to investors on Wednesday, September 18th. They set a “neutral” rating on the stock. Separately, analysts at Oppenheimer reiterated a “buy” rating on shares of Phillips 66 (NYSE:PSX) in a research note to investors on Tuesday, September 10th. They now have a $75.00 price target on the stock. Finally, analysts at Credit Suisse cut their price target on shares of Phillips 66 (NYSE:PSX) from $73.00 to $67.00 in a research note to investors on Tuesday, September 10th. They now have an “outperform” rating on the stock. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Phillips 66 presently has an average rating of “Buy” and an average target price of $61.77.
Phillips 66 (NYSE:PSX) traded up 0.14% during mid-day trading on Tuesday, hitting $57.90. The stock had a trading volume of 2,600,645 shares. 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 $57.58 and a 200-day moving average of $60.87. The company has a market cap of $35.379 billion and a P/E ratio of 7.84.
Phillips 66 (NYSE:PSX) last released its earnings data on Wednesday, July 31st. The company reported $1.50 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.81 by $0.31. During the same quarter in the prior year, the company posted $2.23 earnings per share. On average, analysts predict that Phillips 66 will post $6.44 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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