Breaking: Phillips 66 (NYSE:PSX) “Outperform” Rating Reaffirmed by research analysts Oppenheimer Today; The Price Target Provided Is $110

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Phillips 66 (NYSE:PSX) Rating Reaffirmed

The financial firm has just set a target of $110 on Phillips 66 (NYSE:PSX) shares. This is 23.24% from the last stock close price. In a comprehensive report issued to clients and investors on 4 December, Oppenheimer has decided to reaffirm their “Outperform” rating on shares of PSX.

From a total of 12 analysts covering Phillips 66 (NYSE:PSX) stock, 11 rate it a ”Buy”, 0 a “Sell”, and 6 a ”Hold”. This means that 65% of the ratings are positive. The highest target price is $105 while the lowest target price is $88. The mean of all analyst targets is $96.92 with a 6.82% above today’s ($89.29) stock price. Phillips 66 was the topic of 11 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. Goldman Sachs downgraded shares on November 23 to “Sell” rating. Oppenheimer maintained shares with “Outperform” rating and $95 target share price in a report from a September 18. Barclays Capital maintained PSX stock in a recent report from November 2 with “Overweight” rating. Finally, Credit Suisse downgraded the stock to “Neutral” rating in a report issued on a November 2.

Approximately 116,933 shares of stock traded hands. Phillips 66 (NYSE:PSX) has risen 8.53% since May 1, 2015 and is uptrending. It has outperformed by 11.31% the S&P500.

Phillips 66 is an energy manufacturing and logistics firm with midstream, chemicals, refining and marketing and specialties businesses. The company has a market cap of $47.63 billion. The Firm operates its business through four divisions: midstream, chemicals, refining and marketing and specialties. It has 10.42 P/E ratio. It gathers, processes, transports and markets natural gas, and transports, fractionates and markets natural gas liquids in the United States.

According to Zacks Investment Research, “Phillips 66 is a downstream energy company. It operates in three segments: Refining & Marketing, Midstream and Chemicals. The Refining and Marketing segment purchases, refines, markets and transports crude oil and petroleum products, mainly in the United States, Europe and Asia and also engages in power generation activities, lubricants and other specialty products businesses. The Midstream segment gathers, processes, transports and markets natural gas and fractionates and markets NGL, predominantly in the United States. The Chemicals segment manufactures and markets petrochemicals and plastics. Phillips 66 is headquartered in Houston, Texas.” Get a free copy of the Zacks research report on Phillips 66 (PSX).

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