Phillips 66 Has Price Target and Earnings Estimates Raised at Oppenheimer (PSX)
On Friday analysts at Oppenheimer boosted the price target and earnings estimates for oil and gas company Phillips 66 (PSX) after a positive investors meeting.
Oppenheimer now sees shares of PSX reaching $60, a +15% upside from Thursday’s closing price of $52.21. The firm also gives Phillips 66 an “Outperform” rating.
Phillips 66 shares were flat in premarket trading on Friday. The stock is up +59.37% year-to-date.
The Bottom Line
Shares of Phillips 66 (PSX) have a 1.92% dividend yield, based on last night’s closing stock price of $52.21. The stock has technical support in the $45-$47 price area. The shares are trading near their 52-week highs.
Phillips 66 (PSX) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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