Phillips 66′s “Overweight” Rating Reaffirmed at JPMorgan Chase & Co. (PSX)
Phillips 66 (NYSE:PSX)‘s stock had its “overweight” rating reaffirmed by analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Wednesday. They currently have a $68.00 target price on the stock, up from their previous target price of $52.00. JPMorgan Chase & Co.’s target price points to a potential downside of 19.56% from the company’s current price.
Phillips 66 (NYSE:PSX) traded down 0.30% during mid-day trading on Wednesday, hitting $84.285. The stock had a trading volume of 858,099 shares. Phillips 66 has a one year low of $54.80 and a one year high of $85.45. The stock’s 50-day moving average is $82.88 and its 200-day moving average is $76.95. The company has a market cap of $47.692 billion and a P/E ratio of 13.22.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $1.47 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.34 by $0.13. During the same quarter in the prior year, the company posted $2.19 earnings per share. On average, analysts predict that Phillips 66 will post $7.30 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. reiterated a “hold” rating on shares of Phillips 66 in a research note on Thursday, May 1st. They now have a $84.00 price target on the stock. Separately, analysts at TheStreet upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Tuesday, April 15th. Finally, analysts at Tudor Pickering downgraded shares of Phillips 66 from a “buy” rating to an “accumulate” rating in a research note on Tuesday, April 15th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Phillips 66 presently has an average rating of “Buy” and an average target price of $81.20.
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses.
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