Tudor Pickering Downgrades Phillips 66 to Accumulate (PSX)
Phillips 66 (NYSE:PSX) was downgraded by investment analysts at Tudor Pickering from a “buy” rating to an “accumulate” rating in a note issued to investors on Tuesday, Analyst RN reports.
PSX has been the subject of a number of other recent research reports. Analysts at UBS AG raised their price target on shares of Phillips 66 to $92.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, analysts at Bank of America reiterated a “neutral” rating on shares of Phillips 66 in a research note on Friday. They now have a $95.00 price target on the stock, up previously from $86.00. Finally, analysts at Barclays raised their price target on shares of Phillips 66 from $90.00 to $95.00 in a research note on Friday. They now have an “overweight” rating on the stock. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Phillips 66 has a consensus rating of “Buy” and an average target price of $83.30.
Phillips 66 (NYSE:PSX) opened at 78.01 on Tuesday. Phillips 66 has a 1-year low of $54.80 and a 1-year high of $81.43. The stock has a 50-day moving average of $77.80 and a 200-day moving average of $71.63. The company has a market cap of $45.841 billion and a P/E ratio of 12.96.
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 last year, the company posted $2.06 earnings per share. On average, analysts predict that Phillips 66 will post $7.19 earnings per share for the current fiscal year.
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses.
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