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Phillips 66 (NYSE:PSX) was upgraded by stock analysts at Howard Weil from a “sector perform” rating to a “sector outperform” rating in a report issued on Wednesday, TheFlyOnTheWall.com reports. The firm currently has a $85.00 price target on the stock. Howard Weil’s target price suggests a potential upside of 10.36% from the company’s current price.

Phillips 66 (NYSE:PSX) traded down 0.29% during mid-day trading on Wednesday, hitting $76.80. The stock had a trading volume of 933,649 shares. Phillips 66 has a 52-week low of $50.12 and a 52-week high of $77.83. The stock’s 50-day moving average is $72.16 and its 200-day moving average is $62.63. The company has a market cap of $46.044 billion and a price-to-earnings ratio of 13.39.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.87 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.23 by $0.36. During the same quarter in the previous year, the company posted $2.97 earnings per share. On average, analysts predict that Phillips 66 will post $5.69 earnings per share for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs Group Inc. raised their price target on shares of Phillips 66 from $77.00 to $89.00 in a research note to investors on Monday, December 16th. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Phillips 66 in a research note to investors on Monday, December 9th. They now have a $81.00 price target on the stock, up previously from $68.00. Finally, analysts at Deutsche Bank upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note to investors on Monday, December 9th. They now have a $80.00 price target on the stock, up previously from $64.00. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $70.43.

Phillips 66 is a holding company. The Company is engaged in producing natural gas liquids (NYSE:PSX) and petrochemicals.

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