BP, Phillips 66 And Other Energy Stocks From Wall Street's Most Accurate Analysts

Wall Street analysts make new stock picks on a daily basis. Unfortunately for investors, not all analysts have particularly impressive track records at predicting market movements. Even when it comes to one single stock, analyst ratings and price targets can vary widely, leaving investors confused about which analyst's opinion to trust.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Here's a look at some of the top energy stocks from the most accurate Wall Street analysts, according to Benzinga Analyst Stock Ratings.

Pioneer Natural Resources Company PXD

• JP Morgan analyst Arun Jayaram upgraded the stock from Neutral to Overweight and boosted the price target from $251 to $264 on Aug. 16, 2023. This analyst sees around 11% upside in the stock and has an accuracy rate of 75%.
• Wells Fargo analyst Roger Read maintained an Equal-Weight rating and increased the price target from $227 to $239 on Aug. 10, 2023. This analyst sees the stock gaining around 1% and has an accuracy rate of 71%.
• Recent News: Exxon Mobil Corp. XOM is reportedly on the brink of securing a purchase deal with Pioneer Natural Resources, an acquisition that could be worth approximately $60 billion and transform the U.S. oil landscape.

BP p.l.c. BP

• Raymond James analyst Justin Jenkins maintained an Outperform rating and cut the price target from $47 to $45 on July 13, 2023. Jenkins sees 22% growth in the stock and has an accuracy rate of 77%.
• Piper Sandler analyst Ryan Todd maintained an Overweight rating and cut the price target from $47 to $46 on April 20, 2023. This analyst sees around 25% surge in the stock and has an accuracy rate of 72%.
• Recent News: BP is reportedly looking to sell a 49% stake in its U.S. oil and gas pipeline network in the Gulf of Mexico.

Callon Petroleum Company CPE

• RBC Capital analyst Scott Hanold reiterated an Outperform rating with a price target of $50 on Oct. 4, 2023. This analyst sees around 49% upside in the stock and has an accuracy rate of 72%.
• Morgan Stanley analyst Devin Ryan maintained an Equal-Weight rating and raised the price target from $40 to $41 on Aug. 18, 2023. This analyst sees the stock gaining around 23% and has an accuracy rate of 63%.
• Recent News: Callon Petroleum posted better-than-expected second-quarter earnings.

Phillips 66 PSX

• Piper Sandler analyst Ryan Todd maintained an Overweight rating and cut the price target from $138 to $134 on Oct. 5, 2023. This analyst sees around 22% rise in the stock and has an accuracy rate of 72%.
• Raymond James analyst Justin Jenkins maintained an Outperform rating and increased the price target from $125 to $133 on Sept. 20, 2023. Jenkins sees the stock surging around 21%, and has an accuracy rate of 77%.
• Recent News: Phillips 66 reported second-quarter adjusted EPS of $3.87, beating the consensus of $3.54.

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