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Brace Yourself for Phillips 66’s 3Q17 Earnings

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Part 6
Brace Yourself for Phillips 66’s 3Q17 Earnings PART 6 OF 7

A Look at Analysts’ Ratings for Phillips 66 before 3Q17 Earnings

Analyst ratings for Phillips 66

In this series, we’ve looked at Phillips 66’s (PSX) third-quarter estimates, refining margin expectations, stock returns, moving averages, and stock price estimates ahead of its earnings release expected on October 27, 2017. Now we’ll review the changes in analysts’ ratings for Phillips 66 before its earnings release.

A Look at Analysts&#8217; Ratings for Phillips 66 before 3Q17 Earnings

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Phillips 66 has been rated by 19 analysts. Of those, eight (or 42.0%) have assigned the stock a “buy” or “strong buy” rating. Ten analysts (or 53.0%) have assigned the stock a “hold” rating, and one (or 5.0%) has given it a “strong sell.” To know why most analysts are rating PSX a “hold,” be sure to read Where Phillips 66’s Analysts Are Leaning Now.

Changes in analysts’ ratings

Analysts’ ratings for Phillips 66 have changed from September 2017 levels when PSX had no “sell” ratings, more “hold” ratings, and fewer “buy” ratings.

Recently, Jefferies downgraded Phillips 66 to “underperform” but raised the target price to $77 per share. Simmons also lowered Phillips 66’s target price from $98 to $96 per share. However, JP Morgan raised PSX’s target price from $89 to $93 per share. PSX’s mean target price stands at $93 per share, which implies a ~2.0% loss from the current level.

Peer ratings

Marathon Petroleum (MPC), Andeavor (ANDV), and Valero Energy (VLO) have been rated a “buy” by 79.0%, 82.0%, and 48.0% of analysts, respectively. Delek US Holdings (DK), HollyFrontier (HFC), and PBF Energy (PBF) have been rated a “buy” by 33.0%, 35.0%, and 29.0% of analysts, respectively.

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