Raymond James Keeps Their Buy Rating on Phillips 66 (PSX)

By Jason Carr

Raymond James analyst Justin Jenkins maintained a Buy rating on Phillips 66 (PSXResearch Report) on March 24 and set a price target of $69.00. The company’s shares closed last Monday at $54.22.

According to TipRanks.com, Jenkins is a 2-star analyst with an average return of -1.1% and a 56.5% success rate. Jenkins covers the Basic Materials sector, focusing on stocks such as Dcp Midstream Partners, NGL Energy Partners, and Plains All American.

Currently, the analyst consensus on Phillips 66 is a Strong Buy with an average price target of $90.10, representing a 75.3% upside. In a report issued on March 9, Credit Suisse also upgraded the stock to Buy with a $100.00 price target.

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The company has a one-year high of $119.92 and a one-year low of $40.04. Currently, Phillips 66 has an average volume of 3.95M.

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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.