Citigroup Sticks to Their Buy Rating for Phillips 66 (PSX)

Citigroup analyst Prashant Rao maintained a Buy rating on Phillips 66 (PSXResearch Report) today and set a price target of $128.00. The company’s shares closed last Monday at $102.86.

According to, Rao is a 2-star analyst with an average return of 2.5% and a 44.0% success rate. Rao covers the Basic Materials sector, focusing on stocks such as Marathon Petroleum, Valero Energy, and CVR Energy.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Phillips 66 with a $125.25 average price target, which is a 20.7% upside from current levels. In a report issued on January 9, Raymond James also maintained a Buy rating on the stock with a $125.00 price target.

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Based on Phillips 66’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $27.15 billion and net profit of $710 million. In comparison, last year the company earned revenue of $28.68 billion and had a net profit of $2.24 billion.

Based on the recent corporate insider activity of 28 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.

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Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties.