In a report issued on September 28, Manav Gupta from Credit Suisse maintained a Buy rating on Phillips 66 (PSX). The company’s shares closed last Wednesday at $52.24.
According to TipRanks.com, Gupta is ranked 0 out of 5 stars with an average return of -16.5% and a 29.3% success rate. Gupta covers the Utilities sector, focusing on stocks such as Par Pacific Holdings, Marathon Petroleum, and Delek US Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Phillips 66 with a $79.92 average price target, which is a 52.3% upside from current levels. In a report issued on September 18, Raymond James also maintained a Buy rating on the stock with a $69.00 price target.
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Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PSX in relation to earlier this year.
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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.
