Phillips 66 (PSX) Gets a Buy Rating from Barclays


In a report released yesterday, Theresa Chen from Barclays maintained a Buy rating on Phillips 66 (PSX), with a price target of $94.00. The company’s shares closed last Tuesday at $58.63.

According to TipRanks.com, Chen is a 1-star analyst with an average return of -15.7% and a 42.9% success rate. Chen covers the Basic Materials sector, focusing on stocks such as KNOT Offshore Partners, BP Midstream Partners, and Phillips 66 Partners.

Phillips 66 has an analyst consensus of Strong Buy, with a price target consensus of $84.90, a 41.1% upside from current levels. In a report issued on March 26, Jefferies also upgraded the stock to Buy with a $73.00 price target.

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Based on Phillips 66’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $29.13 billion and net profit of $736 million. In comparison, last year the company earned revenue of $29.1 billion and had a net profit of $2.24 billion.

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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. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services. The Chemicals segment produces and markets petrochemicals and plastics on a worldwide basis. The Refining segment Refines crude oil and other feedstocks into petroleum products such as gasoline, distillates and aviation fuels. The Marketing and Specialties segment purchases for resale and markets refined petroleum products such as base oils and lubricants, as well as power generation operations. Phillips 66 was founded on April 30, 2012 and is headquartered in Houston, TX.

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