NEW YORK (TheStreet) -- Shares of Phillips 66 (PSX) are up 2.71% to $75.76 in after-hours trading after U.S. stocks rose, sending the S&P 500 Index to its best day since October, as energy companies rallied and data on construction spending boosted confidence in the economy, Bloomberg reports.
The Houston-based energy manufacturing and logistics company rose 2.64% on the day as energy shares climbed 1.3%, even as oil resumed a selloff.
"The energy sector is up while oil is down. Maybe the thought is the sector fell too far, too fast," Boston Advisors LLC analyst James Gaul told Bloomberg.
Additionally, a rise in energy shares helped propel the Dow Jones Industrial Average to 17,879.55, a new intraday high Tuesday.
Shares of Phillips 66 traded with heavy volume today as more than 5.17 million shares changed hands by the market close in New York, compared to the average of 4.78 million.
Separately, TheStreet Ratings team rates PHILLIPS 66 as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate PHILLIPS 66 (PSX) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income, attractive valuation levels, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow."