Raymond James Raised Phillips 66’s Target Price



Analysts’ ratings for Phillips 66

In this series, we have discussed Phillips 66’s (PSX) segmental performance and refining margin trend in 1Q18. We also discussed Phillips 66’s stock performance after its earnings release on April 27. In this part, we’ll discuss analysts’ ratings for Phillips 66.

Since Phillips 66’s 1Q18 earnings, the company has been rated by 19 analysts. Seven analysts (or 37%) have assigned “buy” or “strong buy” ratings, ten analysts (or 53%) have assigned “hold” ratings, and two analysts have assigned “sell” and “strong sell” ratings on the stock. Phillips 66’s mean target price stands at $112 per share, which implies a 1% gain from the current level.

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After Phillip 66’s 1Q18 results, Raymond James raised the target price. Phillips 66’s earnings exceeded analysts’ estimate. Also, Phillips 66’s adjusted earnings rose steeply year-over-year in 1Q18. Raymond James increased Phillip 66’s target price from $117 per share to $122 per share. The institution has an “outperform” rating on the stock.

Phillips 66 might see a change in its ratings and target prices as analysts drill further into the 1Q18 numbers.

Analysts’ ratings for peers

Andeavor (ANDV), Valero Energy (VLO), and Marathon Petroleum (MPC) have been rated as a “buy” by 80%, 43%, and 79% of the analysts, respectively. HollyFrontier (HFC), PBF Energy (PBF), and Delek US Holdings (DK) have been rated as a “buy” by 26%, 18%, and 87% of the analysts, respectively.

Next, we’ll discuss the implied volatility in Phillips 66 after its 1Q18 earnings. We’ll discuss Phillips 66’s stock price forecast range for the next seven days after its 1Q18 earnings.


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