TipRanksStock Market NewsPSX NewsRBC Capital Keeps a Buy Rating on Phillips 66 (PSX)

RBC Capital Keeps a Buy Rating on Phillips 66 (PSX)

In a report issued on July 15, T J Schultz from RBC Capital maintained a Buy rating on Phillips 66 (PSXResearch Report), with a price target of $112.00. The company’s shares closed last Monday at $82.75.

According to TipRanks.com, Schultz is a top 100 analyst with an average return of 16.9% and a 64.6% success rate. Schultz covers the Industrial Goods sector, focusing on stocks such as Enterprise Products Partners, Equitrans Midstream, and Rattler Midstream.

Currently, the analyst consensus on Phillips 66 is a Strong Buy with an average price target of $111.92, implying a 34.0% upside from current levels. In a report issued on July 1, Goldman Sachs also reiterated a Buy rating on the stock with a $109.00 price target.

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Phillips 66’s market cap is currently $39.28B and has a P/E ratio of 14.23.

Based on the recent corporate insider activity of 55 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. Last month, Greg Garland, the Chairman & CEO of PSX sold 146,700 shares for a total of $16,092,990.

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.

Founded in 2012, Phillips 66 is a Texas-based multinational energy company, which is engaged 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.

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