Phillips 66

Phillips 66 (PSX) is analysts’ third-favorite stock. Marathon Petroleum (MPC) and Valero Energy (VLO) have been rated as “buy” by 100% and 76% of the analysts, respectively.

Currently, 12 (or 67%) of the 18 analysts covering Phillips 66 have rated it as a “buy” in April. Six analysts (or 33%) have rated Phillips 66 as a “hold.”

Phillips 66: Analysts’ Third Pick with 67% ‘Buy’ Ratings

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Compared to April 2018, analysts’ ratings for Phillips 66 are stronger. In 2018, Phillips 66 had less “buy” ratings, more “hold” ratings, and two “sell” ratings. In 2019, Phillips 66 has more “buy” ratings, less “hold” ratings, and no “sell” ratings.

However, JPMorgan Chase has lowered Phillips 66’s target price. The firm has cut its target price on Phillips 66 stock from $124 to $122. Phillips 66’s mean target price is $120 per share, which implies a 22% gain from the current level.

Why Phillips 66 has mixed ratings

Phillips 66 has strong financials like comfortable debt and a favorable liquidity position. The company focuses on integrated growth activities, which strengthens its diversified earning model.

However, Phillips 66 trades at a higher valuation. Currently, Phillips 66 stock trades at a forward PE ratio of 11.1x, which is above the peer average of 10.2x.

Phillips 66 might have mixed ratings due to its diversified and growth-oriented earnings model, healthy financials, and premium valuations.

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