TD Cowen Reaffirms Their Buy Rating on Phillips 66 (PSX)
TD Cowen analyst Jason Gabelman maintained a Buy rating on Phillips 66 today and set a price target of $213.00.
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Gabelman covers the Energy sector, focusing on stocks such as BP, Equinor ASA, and TotalEnergies SE. According to TipRanks, Gabelman has an average return of 14.0% and a 64.52% success rate on recommended stocks.
In addition to TD Cowen, Phillips 66 also received a Buy from Morgan Stanley’s Joe Laetsch in a report issued on April 30. However, on the same day, Barclays maintained a Hold rating on Phillips 66 (NYSE: PSX).
Based on Phillips 66’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $34.08 billion and a net profit of $207 million. In comparison, last year the company earned a revenue of $30.5 billion and had a net profit of $487 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. Last month, Kevin J Mitchell, the EVP & CFO of PSX sold 15,629.00 shares for a total of $2,970,447.74.
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