Wells Fargo Reaffirms Their Buy Rating on Phillips 66 (PSX)

Wells Fargo analyst Sam Margolin maintained a Buy rating on Phillips 66 today and set a price target of $201.00.

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According to TipRanks, Margolin is a 5-star analyst with an average return of 12.7% and a 68.98% success rate. Margolin covers the Energy sector, focusing on stocks such as Occidental Petroleum, Suncor Energy, and BP.

In addition to Wells Fargo, Phillips 66 also received a Buy from BMO Capital’s Phillip Jungwirth in a report issued on April 9. However, on the same day, Citi maintained 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 $34.02 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.