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.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.