In a report released yesterday, Manav Gupta from Credit Suisse maintained a Buy rating on Phillips 66 (PSX), with a price target of $72.00. The company’s shares closed last Tuesday at $58.43.
According to TipRanks.com, Gupta ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -36.3% and a 20.7% success rate. Gupta covers the Basic Materials sector, focusing on stocks such as Paramount Resources, Marathon Petroleum, and Canadian Natural.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Phillips 66 with a $86.70 average price target, which is a 44.1% 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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Phillips 66’s market cap is currently $25.14B and has a P/E ratio of 7.60. The company has a Price to Book ratio of 1.09.
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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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