Morgan Stanley Sticks to Their Hold Rating for Phillips 66 (PSX)

In a report released today, Joe Laetsch from Morgan Stanley maintained a Hold rating on Phillips 66, with a price target of $140.39.

Claim 50% Off TipRanks Premium

• Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
• Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential

Laetsch covers the Energy sector, focusing on stocks such as Schlumberger, Nabors Industries, and Helmerich & Payne. According to TipRanks, Laetsch has an average return of -1.0% and a 56.34% success rate on recommended stocks.

In addition to Morgan Stanley, Phillips 66 also received a Hold from Scotiabank’s Paul Cheng in a report issued on January 16. However, on January 13, J.P. Morgan maintained a Buy rating on Phillips 66 (NYSE: PSX).

Based on Phillips 66’s latest earnings release for the quarter ending September 29, the company reported a quarterly revenue of $34.98 billion and a net profit of $133 million. In comparison, last year the company earned a revenue of $35.29 billion and had a net profit of $346 million

Based on the recent corporate insider activity of 67 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, Brian Mandell, the EVP of PSX sold 25,500.00 shares for a total of $3,571,020.00.