In a report issued on July 11, Brad Heffern from RBC Capital reiterated a Hold rating on Phillips 66 (NYSE: PSX), with a price target of $113. The company’s shares closed yesterday at $111.81.
According to TipRanks.com, Heffern is a top 100 analyst with an average return of 31.5% and a 78.7% success rate. Heffern covers the Basic Materials sector, focusing on stocks such as Marathon Petroleum Corporation, Contango Oil & Gas Company, and Sanchez Energy Corporation.
Phillips 66 has an analyst consensus of Moderate Buy, with a price target consensus of $118.17.
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Based on Phillips 66’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $23.59 billion and net profit of $522 million. In comparison, last year the company earned revenue of $20.75 billion and had a net profit of $548 million.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2018, Chukwuemeka Oyolu, the VP & Controller of PSX sold 6,900 shares for a total of $828,000.
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Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties.
