Phillips 66 Stock Rating Upgraded by Argus (PSX)
Phillips 66 (NYSE:PSX) was upgraded by equities research analysts at Argus from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays raised their price target on shares of Phillips 66 from $85.00 to $90.00 in a research note to investors on Monday. They now have an “overweight” rating on the stock. Separately, analysts at Credit Suisse downgraded shares of Phillips 66 from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, January 28th. Finally, analysts at Deutsche Bank raised their price target on shares of Phillips 66 from $35.00 to $41.00 in a research note to investors on Monday, January 27th. They now have a “hold” rating on the stock. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $77.25.
Shares of Phillips 66 (NYSE:PSX) opened at 70.67 on Thursday. Phillips 66 has a 52 week low of $54.80 and a 52 week high of $79.00. The stock’s 50-day moving average is $75.16 and its 200-day moving average is $65.05. The company has a market cap of $41.695 billion and a P/E ratio of 11.82.
Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, January 29th. The company reported $1.37 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.07 by $0.30. During the same quarter in the previous year, the company posted $2.06 earnings per share. On average, analysts predict that Phillips 66 will post $7.26 earnings per share for the current fiscal year.
In other Phillips 66 news, Director William Loomis, Jr. bought 13,600 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was purchased at an average cost of $73.55 per share, for a total transaction of $1,000,280.00. Following the completion of the transaction, the director now directly owns 9,447 shares in the company, valued at approximately $694,827. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
Phillips 66 is a holding company. The Company is engaged in producing natural gas liquids (NYSE:PSX) and petrochemicals.
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