Watch for Continued Gains in Shares of Phillips 66 (PSX)
Phillips 66 (NYSE:PSX) traded today at a new 12-month high of $96.76. So far today approximately 1.1 million shares have been exchanged, as compared to an average 30-day volume of 4.1 million shares. Phillips 66 is currently priced 51.0% above its average consensus analyst price target of $46.93. Phillips 66 is an independent refiner with 12 refineries that have a total crude throughput capacity of 2.0 million barrels per day, or mmb/d, after converting its 255 mb/d Alliance refinery to a terminal. The midstream segment comprises extensive transportation and NGL processing assets. It also includes its DCP Midstream joint venture,…