Phillips 66 (PSX) Gets a Buy from Wolfe Research

In a report released yesterday, Doug Leggate from Wolfe Research maintained a Buy rating on Phillips 66, with a price target of $192.00. The company’s shares closed yesterday at $177.33.

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According to TipRanks, Leggate is ranked #654 out of 12068 analysts.

In addition to Wolfe Research, Phillips 66 also received a Buy from UBS’s Manav Gupta in a report issued on April 2. However, on March 23, Bank of America Securities reiterated a Hold rating on Phillips 66 (NYSE: PSX).

Based on Phillips 66’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $34.11 billion and a net profit of $2.91 billion. In comparison, last year the company earned a revenue of $33.71 billion and had a net profit of $8 million

Based on the recent corporate insider activity of 75 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. Earlier this month, Kevin J Mitchell, the EVP & CFO of PSX sold 15,629.00 shares for a total of $2,970,447.74.