Mizuho lowered the firm’s price target on Phillips 66 to $162 from $167 and keeps a Neutral rating on the shares ahead of the Q1 report. The analyst estimates a sequential decline in refining earnings in Q1, driven primarily by lower volumes and the absence of the benefits to margin capture in Q4.
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Read More on PSX:
- Phillips 66 price target raised to $191 from $179 at Wells Fargo
- Phillips 66 price target raised to $187 from $169 at Piper Sandler
- Phillips 66 Announces New Vice President and Controller
- Phillips 66 increases quarterly dividend 10% to $1.15 per share
- Phillips 66 call volume above normal and directionally bullish
