Scotiabank Keeps Their Hold Rating on Phillips 66

By Jason Carr

In a report released yesterday, Blake Fernandez from Scotiabank maintained a Hold rating on Phillips 66 (NYSE: PSX), with a price target of $86. The company’s shares closed yesterday at $80.24.

According to TipRanks.com, Fernandez is a 2-star analyst with an average return of 1.3% and a 53.6% success rate. Fernandez covers the Basic Materials sector, focusing on stocks such as Royal Dutch Shell A, Hollyfrontier Corp, and Valero Energy Corp.

Currently, the analyst consensus on Phillips 66 is Hold and the average price target is $81.80, representing a 1.9% upside.

In a report issued on June 20, Credit Suisse also maintained a Hold rating on the stock with a $75 price target.

Phillips 66’s market cap is currently $41.41B and has a P/E ratio of 24.92. The company has a book value ratio of 1.8517.

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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, Marketing & Specialties and Corporate and Other.