Phillips 66 (PSX) Receives a Buy from Raymond James

By Austin Angelo

Raymond James analyst Justin Jenkins maintained a Buy rating on Phillips 66 (PSXResearch Report) today and set a price target of $125.00. The company’s shares closed last Monday at $104.10.

According to TipRanks.com, Jenkins is a 4-star analyst with an average return of 5.7% and a 63.2% success rate. Jenkins covers the Basic Materials sector, focusing on stocks such as Cheniere Energy Partners, NGL Energy Partners, and Magellan Midstream.

Phillips 66 has an analyst consensus of Moderate Buy, with a price target consensus of $127.43.

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Based on Phillips 66’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $27.15 billion and net profit of $710 million. In comparison, last year the company earned revenue of $28.68 billion and had a net profit of $2.24 billion.

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PSX in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.