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Goldman Sachs Shifts Oil Sector Outlook: Par Pacific Set For Rebound, Phillips 66 Faces Challenges
PSXPhillips 66(PSX) Benzinga·2025-03-27 18:10

Group 1: Analyst Ratings and Estimates - Goldman Sachs analyst Neil Mehta revised ratings and estimates for several major American oil companies, reflecting average Brent oil prices of 75/bin2025and2026,consistentwiththeupdatedoilrangeof75/b in 2025 and 2026, consistent with the updated oil range of 65-80/b[1]−ParPacificHoldings,Inc.(PARR)wasupgradedfromNeutraltoBuy,withapriceforecastincreasefrom80/b [1] - Par Pacific Holdings, Inc. (PARR) was upgraded from Neutral to Buy, with a price forecast increase from 18 to 19,indicatingstrongupsidepotentialfromtheRetailandLogisticssegmentandmarginrecoveryexpectationsinSingapore[1][2]−ImperialOilLimited(IMO)wasdowngradedfromNeutraltoSell,withapriceforecastmaintainedatC19, indicating strong upside potential from the Retail and Logistics segment and margin recovery expectations in Singapore [1][2] - Imperial Oil Limited (IMO) was downgraded from Neutral to Sell, with a price forecast maintained at C90.00, despite strong operational performance at key assets [3][4] - Phillips 66 (PSX) was downgraded from Buy to Neutral, with a price forecast of 132maintained,astheanalystmonitorsoperationalimprovementsamidaweakerChemicalsmarginenvironment[5]Group2:EarningsEstimates−For2025−2026,PARR′sEPSestimateswereadjustedto132 maintained, as the analyst monitors operational improvements amid a weaker Chemicals margin environment [5] Group 2: Earnings Estimates - For 2025-2026, PARR's EPS estimates were adjusted to 0.67 (from 0.79)and0.79) and 2.97 (from 2.73),reflectingupdatesoncommoditypricesandoperationalmetrics[3]−ImperialOil′sEPSestimatesfor2025−2026wererevisedtoC2.73), reflecting updates on commodity prices and operational metrics [3] - Imperial Oil's EPS estimates for 2025-2026 were revised to C8.35 (from C8.04)andC8.04) and C9.06 (from C9.65),comparedtoconsensusestimatesofC9.65), compared to consensus estimates of C8.23 and C8.94,respectively[5]−Overall,Mehta′sestimatesforEPSin2025wereadjustedto8.94, respectively [5] - Overall, Mehta's estimates for EPS in 2025 were adjusted to 7.39 (from 7.69)and7.69) and 13.17 (from $12.75) for the following year [6]