Track market-moving stories before they get noisy

It has been about a month since the last earnings report for Phillips 66 (PSX - Free Report) . Shares have added about 23.9% in that time frame, outperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Phillips 66 due for a pullback? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent catalysts for Phillips 66 before we dive into how investors and analysts have reacted as of late.

Phillips 66 Q2 Earnings Top Estimates on Higher Realized Refining MarginsPhillips 66 reported second-quarter 2026 adjusted earnings of $9.41 per share, up 295.4% from $2.38 per share a year ago. The bottom line beat the Zacks Consensus Estimate of $7.68 by 22.5%.

Total revenues and other income increased 56.2% to $52.04 billion from $33.52 billion a year earlier. The top line surpassed the consensus estimate of $36.17 billion by 43.9%.

The strong quarterly results were driven by higher refining margins. The refining system achieved 96% crude capacity utilization and a clean product yield of 86%.

Refining Profit Surges on Wider MarginsRefining adjusted pre-tax income jumped to $3.09 billion from $392 million in the year-ago quarter. The segment benefited from stronger market crack spreads, favorable mark-to-market impacts and solid operating performance across the refining system.

Worldwide realized refining margins increased to $24.08 per barrel from $11.25 per barrel a year earlier. Total processed inputs averaged 2.05 million barrels per day (MMBbl/d), while turnaround expenses increased to $123 million from $53 million in the prior-year quarter. Refining adjusted EBITDA totaled $3.31 billion.

Phillips 66 Midstream Sets Volume RecordsMidstream adjusted pre-tax income increased 7.4% to $785 million. The segment’s adjusted EBITDA reached $1.05 billion, driven by higher margins and volumes following the absence of disruptions caused by Winter Storm Fern in the prior quarter.

Natural gas liquids (NGL) pipeline throughput to market averaged 943,000 barrels per day (Bbl/d), while fractionation volumes reached a record 1.02 MMBbl/d. Phillips 66 achieved record liquefied petroleum gas export volumes and brought the 220-million-cubic-feet-per-day (MMcf/d) Dos Picos II gas plant to full production.

Chemicals Results Improve on PricingChemicals adjusted pre-tax income rose sharply to $404 million from $20 million in the prior-year quarter. The improvement primarily reflected stronger margins across Chevron Phillips Chemical Company’s olefins and polyolefins operations.

Global olefins and polyolefins capacity utilization was 91% compared with 92% a year ago. The ethylene-to-high-density-polyethylene chain cash margin increased to 43.6 cents per pound from 7.4 cents per pound, providing a significant earnings tailwind despite slightly lower utilization. Chemicals adjusted EBITDA was $528 million.

Marketing and Renewables ReboundMarketing and Specialties generated adjusted pre-tax income of $514 million compared with $660 million a year earlier.

Renewable Fuels posted pre-tax income of $544 million, reversing a loss of $133 million in the year-ago period. Higher regulatory-credit pricing, increased production and favorable mark-to-market impacts supported the turnaround. Renewable fuel production increased to 53,000 Bbl/d from 40,000 Bbl/d a year ago.

Balance Sheet and Cash FlowsPhillips 66 generated $7.26 billion of operating cash flow. Excluding working-capital movements, operating cash flow totaled $4.32 billion. Adjusted EBITDA increased to $5.89 billion from $2.50 billion a year earlier.

As of June 30, 2026, Phillips 66 had total debt of $20.6 billion and net debt of $16.47 billion. Quarter-end liquidity included $4.10 billion of cash and $6.40 billion of committed credit capacity.

Phillips 66 Advances Growth & Shareholder ReturnsPSX returned $887 million to shareholders during the quarter. This included $508 million in dividends and $379 million in share repurchases. Capital expenditures and investments totaled $726 million, comprising $469 million of growth spending and $257 million of sustaining capital.

The company announced plans to construct the 300 MMcf/d Zeus Gas Plant in the Permian Basin and a 100,000 Bbl/d Coastal Bend NGL fractionator in Corpus Christi. CPChem also continued advancing the Golden Triangle Polymers and Ras Laffan Polymers projects, with full operations expected in 2027.

How Have Estimates Been Moving Since Then?It turns out, estimates review have trended upward during the past month.

The consensus estimate has shifted 8.99% due to these changes.

VGM ScoresAt this time, Phillips 66 has a great Growth Score of A, though it is lagging a bit on the Momentum Score front with a B. Following the exact same course, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.

Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, Phillips 66 has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry PlayerPhillips 66 is part of the Zacks Oil and Gas - Refining and Marketing industry. Over the past month, Par Petroleum (PARR - Free Report) , a stock from the same industry, has gained 18.9%. The company reported its results for the quarter ended June 2026 more than a month ago.

Par Petroleum reported revenues of $2.97 billion in the last reported quarter, representing a year-over-year change of +56.8%. EPS of $10.10 for the same period compares with $1.54 a year ago.

For the current quarter, Par Petroleum is expected to post earnings of $4.84 per share, indicating a change of -18.7% from the year-ago quarter. The Zacks Consensus Estimate has changed -9.5% over the last 30 days.

Par Petroleum has a Zacks Rank #1 (Strong Buy) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of A.

Key Takeaways PSX shares jumped 17.5% in four weeks as second-quarter earnings and revenues beat estimates.Phillips 66's refining margin rose to $24.08 a barrel as utilization hit 96%, lifting pre-tax income.PSX faces a premium valuation and lower 2027 earnings estimate, pointing to expected normalization. Phillips 66 (PSX - Free Report) shares have gained 17.5% in the past four weeks, extending a rally backed by a sharp improvement in second-quarter results. Refining economics and midstream growth have strengthened the operating picture.

The question is whether those gains leave enough room for further upside. Earnings momentum remains favorable, but valuation, cyclical exposure and a lower 2027 earnings estimate argue for a more measured view.

PSX Rally Follows a Stronger Earnings BackdropSecond-quarter 2026 adjusted earnings were $9.41 per share, up from $2.38 a year earlier. The figure topped the Zacks Consensus Estimate of $7.68 by 22.5%.

Total revenues and other income rose to $52.04 billion from $33.52 billion and beat the consensus mark by 43.9%. That combination gives investors a materially stronger earnings base than a year ago.

Phillips 66 Refining Margins Add Earnings LeverageWorldwide realized refining margins climbed to $24.08 per barrel from $11.25 a year earlier, while crude capacity utilization reached 96%. Refining adjusted pre-tax income increased to $3.09 billion from $392 million.

Management expects lower net refinery additions and demand growth to support a tighter supply-demand balance, potentially sustaining stronger margins into 2027. Marathon Petroleum Corp. (MPC - Free Report) reported a second-quarter refining and marketing margin of $36.33 per barrel, driven primarily by higher crack spreads. Valero Energy Corporation (VLO - Free Report) reported $4.5 billion of refining operating income, versus $1.3 billion a year earlier.

PSX Midstream Growth Supports Cash Flow ResilienceMidstream adjusted EBITDA reached $1.05 billion as natural gas liquids pipeline throughput averaged 943,000 barrels per day and fractionation volumes hit 1.02 million barrels per day. Those results broaden the cash-flow base beyond refining.

Phillips 66 is also advancing Western Gateway, in which it holds a 49.9% interest, along with the 300-million-cubic-feet-per-day Zeus Gas Plant and 100,000-barrel-per-day Coastal Bend fractionator. These projects add future growth avenues across its midstream network.

Image Source: Phillips 66

Phillips 66 Valuation Leaves Less Room for ErrorPSX has a forward 12-month price-to-earnings ratio of 10.84 versus 9.57 for the Zacks sub-industry and a five-year median of 10.93. The recent share-price advance therefore leaves less valuation cushion if operating conditions soften.

The Zacks Consensus Estimate calls for 2026 earnings of $23.86 per share and 2027 earnings of $21.42. That decline points to normalization after the sharp 2026 earnings rebound.

Image Source: Zacks Investment Research

PSX Risks Could Interrupt the MomentumRefining and chemical earnings remain cyclical. Phillips 66 also recorded $839 million of mark-to-market pre-tax losses on short derivative positions in the first quarter, followed by about $450 million of favorable impacts across Refining, Marketing and Specialties and Renewable Fuels in the second quarter.

Renewable Fuels faces policy uncertainty because renewable identification number credit generation from foreign feedstocks could be cut in half after 2027. Total debt fell to $20.6 billion in the second quarter, but it remains above management's $17 billion target.

PSX Signals Favor Quality but Support a HoldThe operating setup remains constructive, but the recent rally, premium valuation and expected earnings normalization limit the margin for disappointment. The risk-reward balance now looks more even than the recent price momentum alone suggests.

PSX currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.

It also has a VGM Score of A, Growth Score of A, Momentum Score of A and Value Score of B. Those favorable Style Scores highlight strength across growth, momentum and value characteristics, but they are designed to complement rather than override the Zacks Rank, supporting a measured near-term stance.

B. Metzler seel. Sohn & Co. AG purchased a new position in shares of Phillips 66 (NYSE:PSX – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 75,146 shares of the oil and gas company’s stock, valued at approximately $12,703,000.

Other institutional investors have also recently made changes to their positions in the company. Key Client Fiduciary Advisors LLC lifted its holdings in shares of Phillips 66 by 3.5% in the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 1,624 shares of the oil and gas company’s stock worth $275,000 after acquiring an additional 55 shares during the last quarter. Threadgill Financial LLC increased its holdings in Phillips 66 by 3.5% in the 2nd quarter. Threadgill Financial LLC now owns 1,693 shares of the oil and gas company’s stock valued at $286,000 after purchasing an additional 58 shares during the last quarter. Calamos Wealth Management LLC raised its position in Phillips 66 by 2.0% in the second quarter. Calamos Wealth Management LLC now owns 3,084 shares of the oil and gas company’s stock valued at $521,000 after purchasing an additional 60 shares during the period. Somerset Trust Co raised its position in Phillips 66 by 0.3% in the second quarter. Somerset Trust Co now owns 21,301 shares of the oil and gas company’s stock valued at $3,601,000 after purchasing an additional 63 shares during the period. Finally, Clifford Group LLC lifted its stake in Phillips 66 by 2.0% during the fourth quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock worth $428,000 after purchasing an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets Several equities research analysts recently issued reports on the company. The Goldman Sachs Group boosted their price objective on Phillips 66 from $207.00 to $235.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Citigroup reaffirmed a “neutral” rating on shares of Phillips 66 in a research report on Thursday, August 6th. Jefferies Financial Group boosted their price target on shares of Phillips 66 from $191.00 to $207.00 and gave the stock a “hold” rating in a research note on Thursday, July 9th. Barclays increased their price target on shares of Phillips 66 from $183.00 to $216.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 6th. Finally, UBS Group raised their price objective on shares of Phillips 66 from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $206.56.

Check Out Our Latest Report on PSX Insider Activity In related news, EVP Vanessa Allen Sutherland sold 3,523 shares of the business’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $211.05, for a total transaction of $743,529.15. Following the completion of the transaction, the executive vice president owned 27,537 shares in the company, valued at approximately $5,811,683.85. The trade was a 11.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Richard G. Harbison sold 52,100 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $223.76, for a total value of $11,657,896.00. Following the completion of the sale, the executive vice president owned 39,094 shares in the company, valued at approximately $8,747,673.44. This represents a 57.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 100,507 shares of company stock valued at $21,770,810 over the last quarter. Company insiders own 0.40% of the company’s stock.

Phillips 66 Stock Performance Shares of Phillips 66 stock opened at $239.46 on Friday. Phillips 66 has a one year low of $122.25 and a one year high of $246.95. The company has a market cap of $95.55 billion, a PE ratio of 13.64, a P/E/G ratio of 0.18 and a beta of 0.68. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.32. The business has a 50-day simple moving average of $197.59 and a 200-day simple moving average of $178.99.

Phillips 66 (NYSE:PSX – Get Free Report) last issued its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share for the quarter, beating the consensus estimate of $7.50 by $1.91. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. The firm had revenue of $52.04 billion for the quarter, compared to analysts’ expectations of $43.60 billion. During the same quarter last year, the company earned $2.38 earnings per share. On average, equities research analysts forecast that Phillips 66 will post 23.86 EPS for the current fiscal year.

Phillips 66 Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a $1.27 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.1%. Phillips 66’s dividend payout ratio is currently 28.95%.

Phillips 66 declared that its Board of Directors has approved a stock buyback plan on Friday, July 31st that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 11.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Phillips 66 Profile (Free Report)

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.

Featured Articles Five stocks we like better than Phillips 66 3 Energy Stocks Raising Dividends as the Sector Surges 5 Reasons the S&P 500 Could Keep Rallying Through Year-End Walmart’s Post-Earnings Drop Could Be a Buying Opportunity The Trade Desk’s Earnings Miss Raises a Bigger Question About Its AI Future Want to see what other hedge funds are holding PSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 (NYSE:PSX – Free Report).

Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.

Aljian Capital Management LLC purchased a new stake in Phillips 66 (NYSE:PSX – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,250 shares of the oil and gas company’s stock, valued at approximately $380,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Key Client Fiduciary Advisors LLC grew its holdings in shares of Phillips 66 by 3.5% in the second quarter. Key Client Fiduciary Advisors LLC now owns 1,624 shares of the oil and gas company’s stock valued at $275,000 after purchasing an additional 55 shares during the period. Threadgill Financial LLC boosted its holdings in Phillips 66 by 3.5% in the 2nd quarter. Threadgill Financial LLC now owns 1,693 shares of the oil and gas company’s stock valued at $286,000 after purchasing an additional 58 shares during the last quarter. Calamos Wealth Management LLC boosted its holdings in Phillips 66 by 2.0% in the 2nd quarter. Calamos Wealth Management LLC now owns 3,084 shares of the oil and gas company’s stock valued at $521,000 after purchasing an additional 60 shares during the last quarter. Somerset Trust Co grew its stake in shares of Phillips 66 by 0.3% in the 2nd quarter. Somerset Trust Co now owns 21,301 shares of the oil and gas company’s stock valued at $3,601,000 after buying an additional 63 shares during the period. Finally, Clifford Group LLC grew its stake in shares of Phillips 66 by 2.0% in the 4th quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock valued at $428,000 after buying an additional 64 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In Several analysts have recently commented on the stock. Piper Sandler lifted their price target on shares of Phillips 66 from $208.00 to $209.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. The Goldman Sachs Group increased their price objective on Phillips 66 from $207.00 to $235.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. raised their target price on Phillips 66 from $188.00 to $202.00 in a research note on Thursday, April 30th. Tudor Pickering upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Finally, Barclays upped their price target on Phillips 66 from $183.00 to $216.00 and gave the company an “equal weight” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.56.

Check Out Our Latest Stock Analysis on PSX Insider Transactions at Phillips 66 In related news, CFO Kevin J. Mitchell sold 11,021 shares of the firm’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at $18,504,361.28. This trade represents a 10.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Richard G. Harbison sold 52,100 shares of Phillips 66 stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $223.76, for a total value of $11,657,896.00. Following the completion of the transaction, the executive vice president directly owned 39,094 shares of the company’s stock, valued at approximately $8,747,673.44. This represents a 57.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 100,507 shares of company stock worth $21,770,810 in the last 90 days. Insiders own 0.40% of the company’s stock.

Phillips 66 Stock Performance NYSE:PSX opened at $243.26 on Wednesday. Phillips 66 has a fifty-two week low of $121.24 and a fifty-two week high of $243.60. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.32. The company has a 50 day moving average price of $195.15 and a 200 day moving average price of $177.62. The stock has a market capitalization of $97.07 billion, a P/E ratio of 13.86, a PEG ratio of 0.17 and a beta of 0.68.

Phillips 66 (NYSE:PSX – Get Free Report) last announced its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.50 by $1.91. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.The company had revenue of $52.04 billion for the quarter, compared to analyst estimates of $43.60 billion. During the same quarter in the previous year, the company earned $2.38 earnings per share. Equities research analysts forecast that Phillips 66 will post 24.44 EPS for the current year.

Phillips 66 Dividend Announcement The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a dividend of $1.27 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 annualized dividend and a yield of 2.1%. Phillips 66’s dividend payout ratio is presently 28.95%.

Phillips 66 announced that its board has initiated a share buyback program on Friday, July 31st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 11.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

More Phillips 66 News Here are the key news stories impacting Phillips 66 this week:

Positive Sentiment: Western Gateway pipeline deal supports the rally. The reported transaction is expected to expand Phillips 66’s midstream footprint, potentially improving cash flow and giving its refining and marketing operations greater supply and distribution flexibility. Phillips 66 stock hits 52-week high as pipeline deal adds to rally Will Western Gateway Enhance PSX’s Midstream & Refining Cash Flow? Positive Sentiment: Record diesel prices could lift refining margins. Diesel strength is diverging from crude-oil trends, creating favorable economics for refiners such as Phillips 66 and potentially supporting near-term profits and cash generation. Diesel Prices Are Breaking Records Positive Sentiment: Options activity signals aggressive bullish positioning. Traders purchased 52,191 PSX call options, versus an average of 2,983, indicating elevated expectations for additional upside. Options flow can amplify momentum, although it is not a guarantee of future performance. Stock Traders Purchase Large Volume of Phillips 66 Call Options Neutral Sentiment: A fire at a major fuel depot on a key pipeline system could disrupt refined-product supplies. The resulting supply tightness may support diesel prices and refining margins, but potential logistics or operational disruptions create uncertainty for Phillips 66. Lightning Sparks Fire at Massive US Fuel Depot Negative Sentiment: An executive sold more than 52,000 Phillips 66 shares after exercising options, locking in substantial gains following the stock’s strong run. The sale may weigh modestly on sentiment, though it appears related to profit-taking rather than a disclosed change in business prospects. Executive Dumps Over 52,000 Shares of Iconic Energy Stock Negative Sentiment: A feedstock-agreement dispute with XCF Global could expose Phillips 66 to legal or commercial uncertainty, although the available report does not indicate a material financial impact on PSX. XCF Global dispute with Phillips 66 Phillips 66 Profile (Free Report)

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.

Featured Stories Five stocks we like better than Phillips 66 The AI Boom Is Turning This Cable Maker Into a Stock to Watch A Star Investor Just Trimmed Amazon—Here’s What It means Wendy’s Deal Buzz May Give Fast-Food Investors a New Reason to Look Home Depot Analysts See a Path to $375 and Beyond

Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.

BlackRock Inc. bought a new position in shares of Phillips 66 (NYSE:PSX – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 34,112,861 shares of the oil and gas company’s stock, valued at approximately $5,766,779,000. BlackRock Inc. owned 8.51% of Phillips 66 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in Phillips 66 by 238.5% during the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after purchasing an additional 7,214 shares during the period. Woodline Partners LP grew its holdings in Phillips 66 by 40.7% during the 1st quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock worth $4,308,000 after acquiring an additional 10,089 shares in the last quarter. Sei Investments Co. grew its holdings in Phillips 66 by 28.3% during the 2nd quarter. Sei Investments Co. now owns 157,455 shares of the oil and gas company’s stock worth $18,788,000 after acquiring an additional 34,698 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Phillips 66 by 9.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 346,679 shares of the oil and gas company’s stock valued at $41,359,000 after purchasing an additional 28,988 shares during the period. Finally, Glenview Trust co increased its position in Phillips 66 by 2.6% during the 2nd quarter. Glenview Trust co now owns 8,949 shares of the oil and gas company’s stock valued at $1,068,000 after purchasing an additional 229 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 2.9%
Shares of NYSE:PSX opened at $240.50 on Tuesday. The business’s 50-day moving average is $193.87 and its 200 day moving average is $176.91. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.32 and a quick ratio of 1.00. Phillips 66 has a 1 year low of $121.24 and a 1 year high of $240.67. The firm has a market capitalization of $95.96 billion, a P/E ratio of 13.70, a P/E/G ratio of 0.17 and a beta of 0.68.

Phillips 66 (NYSE:PSX – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share for the quarter, topping the consensus estimate of $7.50 by $1.91. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.The business had revenue of $52.04 billion during the quarter, compared to the consensus estimate of $43.60 billion. During the same quarter last year, the company earned $2.38 earnings per share. On average, research analysts predict that Phillips 66 will post 24.44 earnings per share for the current fiscal year.

Phillips 66 announced that its Board of Directors has authorized a share repurchase plan on Friday, July 31st that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase up to 11.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Phillips 66 Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be given a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66’s dividend payout ratio (DPR) is presently 28.95%.

Insider Activity at Phillips 66
In related news, EVP Vanessa Allen Sutherland sold 3,523 shares of Phillips 66 stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $211.05, for a total value of $743,529.15. Following the completion of the sale, the executive vice president directly owned 27,537 shares in the company, valued at $5,811,683.85. This trade represents a 11.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin J. Mitchell sold 11,021 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the sale, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $18,504,361.28. This represents a 10.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 100,507 shares of company stock valued at $21,770,810 over the last 90 days. Company insiders own 0.40% of the company’s stock.

Analyst Ratings Changes
Several equities research analysts have recently weighed in on PSX shares. BMO Capital Markets upped their price target on shares of Phillips 66 from $195.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. The Goldman Sachs Group lifted their price objective on shares of Phillips 66 from $207.00 to $235.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Phillips 66 from $188.00 to $202.00 in a research note on Thursday, April 30th. Raymond James Financial upped their target price on Phillips 66 from $218.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Finally, Argus increased their target price on Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $206.56.

Get Our Latest Stock Analysis on Phillips 66

Phillips 66 Profile
(Free Report)

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.

Featured Articles

Five stocks we like better than Phillips 66
Commodities Are Booming, But These 3 ETFs Tell Different Stories
3 Active ETFs Making Big Moves in August
This ETF Is Outperforming by Avoiding the S&P 500’s Biggest Problem
Birkenstock Beats the Skeptics—But Not on EPS

Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.

Focus Partners Advisor Solutions LLC bought a new stake in Phillips 66 (NYSE:PSX – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 30,361 shares of the oil and gas company’s stock, valued at approximately $5,133,000.

A number of other large investors have also recently bought and sold shares of the company. MUFG Securities EMEA plc lifted its position in shares of Phillips 66 by 113.5% in the fourth quarter. MUFG Securities EMEA plc now owns 16,518 shares of the oil and gas company’s stock worth $2,131,000 after purchasing an additional 8,783 shares in the last quarter. Horizon Investments LLC grew its position in Phillips 66 by 478.4% in the fourth quarter. Horizon Investments LLC now owns 63,290 shares of the oil and gas company’s stock valued at $8,167,000 after purchasing an additional 52,348 shares in the last quarter. Truist Financial Corp increased its stake in Phillips 66 by 1.6% in the 4th quarter. Truist Financial Corp now owns 675,084 shares of the oil and gas company’s stock valued at $87,113,000 after buying an additional 10,585 shares during the last quarter. Fifth Third Bancorp increased its stake in Phillips 66 by 543.7% in the 1st quarter. Fifth Third Bancorp now owns 128,156 shares of the oil and gas company’s stock valued at $23,348,000 after buying an additional 108,248 shares during the last quarter. Finally, HighTower Advisors LLC increased its stake in Phillips 66 by 1.7% in the 4th quarter. HighTower Advisors LLC now owns 369,586 shares of the oil and gas company’s stock valued at $47,691,000 after buying an additional 6,058 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insiders Place Their Bets In related news, EVP Richard G. Harbison sold 52,100 shares of Phillips 66 stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $223.76, for a total transaction of $11,657,896.00. Following the completion of the transaction, the executive vice president owned 39,094 shares in the company, valued at approximately $8,747,673.44. This trade represents a 57.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Brian Mandell sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $215.00, for a total value of $6,450,000.00. Following the transaction, the executive vice president directly owned 61,595 shares in the company, valued at approximately $13,242,925. This trade represents a 32.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 100,507 shares of company stock worth $21,770,810. Company insiders own 0.40% of the company’s stock.

Key Stories Impacting Phillips 66 Here are the key news stories impacting Phillips 66 this week:

Positive Sentiment: Takeover talks highlight strategic value. Phillips 66 and Marathon Petroleum reportedly discussed a potential combination valued at roughly $180 billion. Although the talks did not result in a deal, the discussions underscore PSX’s scale and could renew speculation about consolidation among U.S. refiners. Phillips 66 and Marathon Petroleum held takeover talks Positive Sentiment: Refining margins and shareholder returns remain supportive. Supply disruptions linked to the Iran conflict have lifted fuel margins, helping major refiners generate strong profits and increase buybacks and dividends. Phillips 66 has authorized a $10 billion repurchase program and pays a quarterly dividend of $1.27 per share. U.S. refiners ramp up buybacks as Iran war boosts fuel margins Positive Sentiment: Infrastructure expansion adds a longer-term growth angle. PSX, Kinder Morgan and HF Sinclair are advancing the approximately $5 billion Western Gateway refined-products pipeline, which is expected to improve market access and logistics flexibility. Phillips 66 and partners advance Western Gateway pipeline project Neutral Sentiment: Merger failure limits the immediate upside from consolidation. Antitrust concerns and operational complexity reportedly derailed the proposed Marathon Petroleum transaction. The outcome removes a near-term transformational catalyst, while the broader energy-sector rally and PSX’s premium valuation leave the stock more exposed to a reversal in refining margins. Reported Phillips 66 and Marathon Petroleum merger analysis Negative Sentiment: Heavy insider selling may weigh on sentiment. EVP Richard Harbison sold 52,100 shares for approximately $11.7 million, while EVP Brian Mandell sold 33,300 shares for about $7.2 million. The trades may be profit-taking after PSX’s strong rally, but they reduce insiders’ holdings and could raise short-term concerns about valuation. Richard Harbison sells Phillips 66 shares Phillips 66 Stock Performance Shares of PSX stock opened at $233.29 on Monday. The stock has a market cap of $93.09 billion, a P/E ratio of 13.29, a P/E/G ratio of 0.17 and a beta of 0.68. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.32 and a quick ratio of 1.00. The company has a fifty day moving average price of $192.72 and a two-hundred day moving average price of $176.20. Phillips 66 has a one year low of $121.24 and a one year high of $236.14.

Phillips 66 (NYSE:PSX – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, beating analysts’ consensus estimates of $7.50 by $1.91. The company had revenue of $52.04 billion during the quarter, compared to the consensus estimate of $43.60 billion. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. During the same quarter last year, the firm posted $2.38 EPS. As a group, equities analysts predict that Phillips 66 will post 24.44 EPS for the current year.

Phillips 66 declared that its board has authorized a share repurchase program on Friday, July 31st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 11.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Phillips 66 Dividend Announcement The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 2.2%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s dividend payout ratio (DPR) is 28.95%.

Analyst Ratings Changes A number of equities analysts have recently commented on PSX shares. The Goldman Sachs Group increased their price objective on shares of Phillips 66 from $207.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Wall Street Zen raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 26th. Raymond James Financial upped their target price on Phillips 66 from $218.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Jefferies Financial Group increased their price target on Phillips 66 from $191.00 to $207.00 and gave the company a “hold” rating in a research report on Thursday, July 9th. Finally, Wells Fargo & Company raised their price target on Phillips 66 from $201.00 to $239.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average price target of $206.56.

Read Our Latest Analysis on Phillips 66

Phillips 66 Profile (Free Report)

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.

Recommended Stories Five stocks we like better than Phillips 66 The Metals Company’s Big Bet Now Comes Down to a License OneSpaWorld Keeps Turning Cruise Demand Into Record Earnings Meta and Tesla Are Rebounding From Oversold Levels—Now What? AMG’s Alternatives Boom Powers Record Growth

Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.

Assenagon Asset Management S.A. lowered its holdings in shares of Phillips 66 (NYSE:PSX – Free Report) by 16.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 231,785 shares of the oil and gas company’s stock after selling 46,874 shares during the period. Assenagon Asset Management S.A. owned approximately 0.06% of Phillips 66 worth $39,183,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MUFG Securities EMEA plc raised its position in shares of Phillips 66 by 113.5% in the 4th quarter. MUFG Securities EMEA plc now owns 16,518 shares of the oil and gas company’s stock worth $2,131,000 after purchasing an additional 8,783 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Phillips 66 by 17.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,371,804 shares of the oil and gas company’s stock worth $177,018,000 after purchasing an additional 199,646 shares in the last quarter. Horizon Investments LLC grew its position in Phillips 66 by 478.4% during the 4th quarter. Horizon Investments LLC now owns 63,290 shares of the oil and gas company’s stock valued at $8,167,000 after purchasing an additional 52,348 shares during the last quarter. LBP AM SA increased its stake in Phillips 66 by 237.8% during the 4th quarter. LBP AM SA now owns 56,380 shares of the oil and gas company’s stock valued at $7,275,000 after purchasing an additional 39,690 shares in the last quarter. Finally, Truist Financial Corp increased its stake in Phillips 66 by 1.6% during the 4th quarter. Truist Financial Corp now owns 675,084 shares of the oil and gas company’s stock valued at $87,113,000 after purchasing an additional 10,585 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insiders Place Their Bets In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 3,523 shares of the stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $211.05, for a total value of $743,529.15. Following the transaction, the executive vice president owned 27,537 shares of the company’s stock, valued at approximately $5,811,683.85. This represents a 11.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin J. Mitchell sold 11,021 shares of the firm’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $190.03, for a total value of $2,094,320.63. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at $18,504,361.28. The trade was a 10.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 15,707 shares of company stock worth $3,059,584. Company insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades PSX has been the topic of several analyst reports. BMO Capital Markets upped their target price on shares of Phillips 66 from $195.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Mizuho upgraded shares of Phillips 66 from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $170.00 to $212.00 in a report on Wednesday, May 27th. TD Cowen upped their price objective on Phillips 66 from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Thursday. UBS Group increased their target price on Phillips 66 from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Phillips 66 in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus target price of $206.50.

Get Our Latest Stock Analysis on PSX

Phillips 66 Stock Down 0.7% PSX opened at $204.05 on Friday. The stock has a market capitalization of $81.42 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 0.16 and a beta of 0.68. The firm has a 50 day moving average price of $188.40 and a 200-day moving average price of $172.95. Phillips 66 has a twelve month low of $118.07 and a twelve month high of $216.08. The company has a quick ratio of 0.85, a current ratio of 1.32 and a debt-to-equity ratio of 0.57.

Phillips 66 (NYSE:PSX – Get Free Report) last issued its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.50 by $1.91. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. The company had revenue of $52.04 billion for the quarter, compared to analysts’ expectations of $43.60 billion. During the same quarter last year, the company posted $2.38 earnings per share. Equities research analysts forecast that Phillips 66 will post 23.01 earnings per share for the current year.

Phillips 66 announced that its Board of Directors has initiated a stock repurchase plan on Friday, July 31st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the oil and gas company to purchase up to 11.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Phillips 66 Dividend Announcement The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s dividend payout ratio (DPR) is 28.95%.

Phillips 66 News Roundup Here are the key news stories impacting Phillips 66 this week:

Positive Sentiment: Record earnings and broad-based operating improvement: Second-quarter adjusted earnings reached approximately $3.8 billion, with net profit rising sharply as refining margins more than doubled. Refining, midstream, chemicals and marketing all contributed, while stronger execution helped the company exceed earnings expectations. Phillips 66 Profit Jumps as Refining Margins More Than Double Positive Sentiment: Favorable refining outlook: Management said tight product supply and limited refining capacity could keep margins strong through 2027, extending the period of elevated profitability. Phillips 66 sees strong refining margins continuing through 2027 Positive Sentiment: Balance-sheet and shareholder-return catalysts: Debt reduction, midstream growth and potential for enhanced capital returns are improving the investment case. TD Cowen maintained a Buy rating and raised its price target to $255 from $240, citing stronger fundamentals and a healthier balance sheet. TD Cowen raises Phillips 66 price target Neutral Sentiment: Analyst sentiment is positive but not unanimous: Brokerages collectively rate PSX a “Moderate Buy,” while a fair-value estimate increased to $207.53. However, Bank of America reiterated a Hold rating with a $213 target, indicating some analysts view much of the upside as already reflected. Phillips 66 receives Moderate Buy recommendation Negative Sentiment: Cyclical and valuation risks remain: The stock is near its 12-month high after a substantial rally, leaving investors concerned that refining margins may normalize and that current earnings could represent a peak. That caution may be limiting further gains despite the upbeat results. About Phillips 66 (Free Report)

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.

Recommended Stories Five stocks we like better than Phillips 66 Quantum Earnings Week: Winners and Losers Are Finally Emerging Axon’s Post-Earnings Pullback May Be More About Valuation Than Growth Uber Stock Lags in 2026, But Cash Flow and AV Bets Fuel Upside AppLovin Stock Hits 52-Week Low as Analysts Trim Targets, Stay Bullish Want to see what other hedge funds are holding PSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 (NYSE:PSX – Free Report).

Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.

ToplinePhillips 66 stated in its earnings call Wednesday that it has become the world's third-largest buyer of Venezuelan crude, doing so through a fleet expansion and Jones Act waivers as President Donald Trump has pressured Exxon and Chevron over increased profits fueled by the Iran war.

A general view of a Phillips 66 gas station on August 23, 2024 in Oceanside, New York.

Photo by Bruce Bennett/Getty Images

Key FactsPhillips 66 marketing chief Brian Mandell said the company’s increased purchases of Venezuelan crude is part of a strategy to build a leading position in discounted heavy grades.

The company’s surge in Venezuelan purchases has been bolstered by the Trump administration issuing waivers suspending rules around the Jones Act, a law requiring maritime goods transported between American ports to be carried on ships built and operated by Americans, with Phillips 66 receiving around 20% of all exemptions granted.

The White House is expected to extend the waiver this month, according to Reuters, as Trump has targeted Phillips 66 rivals Exxon and Chevron, saying they are “making too much money” as the Iran war has driven up crude oil prices.

Mandell also said Phillips 66’s time-charter fleet has grown fourfold in the last two years, supporting about 40% of the company’s asset-backed crude and product demand.

TangentPhillips 66 shares fell 1.7% to $202.39 on Wednesday, its lowest point in three weeks. However, the company’s stock has risen 57% since the start of the year, when it traded around $130 per share.

Key BackgroundTrump’s criticism of Exxon and Chevron comes as both companies have posted massive profits in their respective second quarters, with Chevron reporting $12 billion in quarterly net profit and Exxon reporting $14.5 billion—more than double what it posted in the same quarter last year. “They’re going to give some of that back to the public and they better cut the retail price, the consumer price,” Trump said. Gas prices in the U.S. jumped to a five-year high in May, and though the average cost for a gallon of gas has fallen to a little over $4, prices are still at levels last recorded before this year in 2022, according to GasBuddy. Phillips 66 has joined in the profits. The company reported $3.8 billion in net income in its latest quarter, an $887 million increase from the same period last year. The benchmark is also the highest quarterly profit Phillips 66 has posted since 2022, when Russia’s invasion of Ukraine sent gas prices soaring.

The Phillips 66 refinery in Immingham, Britain, April 10, 2025. REUTERS/Dominic Lipinski Purchase Licensing Rights, opens new tab

CompaniesAug 5 (Reuters) - Phillips 66 (PSX.N), opens new tab reported a nearly fourfold ​jump in second-quarter profit on Wednesday, crushing Wall Street estimates, ‌as the Middle East conflict squeezed global fuel supplies and sent U.S. refining margins soaring.

U.S. refiners have been among the biggest beneficiaries of the Iran war, as international buyers ​have scrambled to secure alternative fuel supplies amid concerns over ​disruptions to Middle Eastern exports.

The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here.

The surge in overseas demand has ⁠helped push U.S. fuel exports to record highs, particularly for diesel and ​other refined products.

Phillips' refining segment reported an unprecedented jump in adjusted earnings ​to $3.09 billion from $392 million a year earlier.

Its realized margin in the second quarter more than doubled to $24.08 per barrel from a year earlier.

The company's net income came in ​at $3.85 billion, up from $877 million a year ago and marking its ​strongest quarterly profit since 2022, when Russia's invasion of Ukraine disrupted global supply chains ‌and boosted ⁠refinery earnings.

Shares of Phillips 66 rose 1.3% to $208.50 in premarket trading. Last week, the company's board approved a $10 billion increase to its share repurchase ​program.

Quarterly adjusted earnings ​at Phillips 66's ⁠renewable fuel segment rose to $544 million, compared with a loss of $133 million a year earlier.

U.S. refiners are beginning ​to see stronger returns from renewable fuels after years of ​margin pressure, ⁠helped by a recent increase in biofuel blending mandates and a rise in diesel prices linked to the Middle East conflict.

Houston, Texas-based Phillips 66 reported ⁠an ​adjusted profit of $9.41 per share for the ​three months ended June 30, compared with analysts' average estimate of $7.44 per share, according to data ​compiled by LSEG.

Reporting by Pooja Menon in Bengaluru; Editing by Shinjini Ganguli

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Phillips 66 (PSX - Free Report) closed at $210.60 in the latest trading session, marking a +1.83% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 1.66% for the day. Meanwhile, the Dow experienced a rise of 1.19%, and the technology-dominated Nasdaq saw an increase of 2.78%.

The stock of oil refiner has risen by 18.52% in the past month, leading the Oils-Energy sector's gain of 5.33% and the S&P 500's loss of 1.49%.

Analysts and investors alike will be keeping a close eye on the performance of Phillips 66 in its upcoming earnings disclosure. The company's earnings report is set to go public on August 5, 2026. The company is expected to report EPS of $7.68, up 222.69% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $36.17 billion, indicating a 7.91% increase compared to the same quarter of the previous year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $22.43 per share and a revenue of $146.24 billion, representing changes of +248.29% and +7.09%, respectively, from the prior year.

Any recent changes to analyst estimates for Phillips 66 should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 17.68% rise in the Zacks Consensus EPS estimate. At present, Phillips 66 boasts a Zacks Rank of #2 (Buy).

With respect to valuation, Phillips 66 is currently being traded at a Forward P/E ratio of 9.22. This signifies a premium in comparison to the average Forward P/E of 8.31 for its industry.

Meanwhile, PSX's PEG ratio is currently 0.16. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Oil and Gas - Refining and Marketing industry had an average PEG ratio of 0.21.

The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 19, this industry ranks in the top 8% of all industries, numbering over 250.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

Posted by Defense World Staff on Jul 26th, 2026

Bank of Nova Scotia lowered its stake in shares of Phillips 66 (NYSE:PSX – Free Report) by 35.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 94,725 shares of the oil and gas company’s stock after selling 51,775 shares during the quarter. Bank of Nova Scotia’s holdings in Phillips 66 were worth $17,257,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. State of Wyoming lifted its stake in shares of Phillips 66 by 182.6% during the 1st quarter. State of Wyoming now owns 4,833 shares of the oil and gas company’s stock valued at $880,000 after buying an additional 3,123 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Phillips 66 by 8.5% during the 1st quarter. Cetera Investment Advisers now owns 258,194 shares of the oil and gas company’s stock worth $47,038,000 after purchasing an additional 20,322 shares in the last quarter. Prestige Wealth Management Group LLC boosted its stake in Phillips 66 by 76.8% in the 1st quarter. Prestige Wealth Management Group LLC now owns 633 shares of the oil and gas company’s stock worth $115,000 after purchasing an additional 275 shares during the period. Clearwater Capital Advisors LLC bought a new stake in shares of Phillips 66 during the first quarter valued at about $214,000. Finally, First Trust Advisors LP lifted its holdings in shares of Phillips 66 by 40.1% in the first quarter. First Trust Advisors LP now owns 277,463 shares of the oil and gas company’s stock worth $50,548,000 after buying an additional 79,349 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling In related news, Director Kevin Omar Meyers acquired 175 shares of Phillips 66 stock in a transaction that occurred on Wednesday, May 6th. The stock was bought at an average price of $173.12 per share, with a total value of $30,296.00. Following the transaction, the director directly owned 16,799 shares in the company, valued at approximately $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevin J. Mitchell sold 11,021 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total value of $2,094,320.63. Following the completion of the sale, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $18,504,361.28. This represents a 10.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 41,021 shares of company stock worth $7,195,257. Insiders own 0.40% of the company’s stock.

Phillips 66 Price Performance PSX opened at $206.94 on Friday. The stock has a market capitalization of $82.97 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 0.17 and a beta of 0.69. The stock’s 50 day moving average price is $182.54 and its 200-day moving average price is $168.28. Phillips 66 has a 52-week low of $118.07 and a 52-week high of $216.08. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13.

Phillips 66 (NYSE:PSX – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $1.03. The company had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. Phillips 66’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.90) earnings per share. On average, equities research analysts predict that Phillips 66 will post 22.43 EPS for the current year.

Phillips 66 Announces Dividend The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a dividend of $1.27 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.5%. Phillips 66’s dividend payout ratio (DPR) is currently 50.05%.

Analyst Upgrades and Downgrades PSX has been the subject of several analyst reports. Weiss Ratings downgraded shares of Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Scotiabank boosted their price objective on Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. UBS Group reiterated a “buy” rating and set a $212.00 target price on shares of Phillips 66 in a research report on Monday, June 15th. The Goldman Sachs Group raised their price objective on shares of Phillips 66 from $207.00 to $235.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price target on Phillips 66 from $188.00 to $202.00 in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.44.

Check Out Our Latest Stock Analysis on PSX

Phillips 66 Company Profile (Free Report)

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.

See Also Five stocks we like better than Phillips 66 Telecom Earnings Reveal a Sector That Finally Looks Healthier Defense Earnings Show Readiness Now and Modernization Ahead Why Palantir Investors Aren’t Panicking While the Rest of AI Sells Off MarketBeat Week in Review – 07/20- 07/24

Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.

« PREVIOUS HEADLINEAssetmark Inc. Increases Stock Holdings in BHP Group Limited Sponsored ADR $BHP

NEXT HEADLINE »Aubrey Capital Management Ltd Sells 4,800 Shares of NVIDIA Corporation $NVDA

Key Takeaways Phillips 66 may gain from tight fuel markets and elevated crack spreads supporting refining margins.Refinery closures and Hormuz disruptions tightened supply as gasoline and jet fuel demand stayed robust.PSX's minimal Middle East crude exposure supports steady refinery utilization amid supply disruptions. Phillips 66 (PSX - Free Report) is an integrated energy player with diversified operations spanning midstream, refining and chemicals. The company is emerging as one of the beneficiaries of supply disruptions through the Strait of Hormuz, a critical chokepoint that accounts for nearly one-fifth of global energy flows. Renewed geopolitical tensions between the United States and Iran have once again raised uncertainty regarding shipping traffic through the Strait of Hormuz, reigniting supply concerns.

Refined product markets were already tightening ahead of the conflict due to the loss of refining capacity following the closures of Phillips 66's Los Angeles refinery and Valero Energy's Benicia refinery in the United States, along with several other refineries in Europe. Supply disruptions through the Strait of Hormuz have amplified the tightness of refined-product markets at a time when global refining capacity remains constrained and demand for products such as gasoline and jet fuel stays robust.The 3-2-1 crack spread, widely known as an indicator of refining profitability, has risen significantly since the start of the conflict and remains at elevated levels, creating a highly favorable operating environment for U.S. refiners, including Phillips 66.

In fact, in its first-quarter earnings call, management highlighted that tight product markets are expected to support refining margins for the rest of the year. Moreover, PSX is expected to remain largely unaffected by crude-supply disruptions, as it sources the majority of its crude from Canada, the United States and Latin America, with only about 1% coming from the Middle East. This allows the company to sustain high refinery utilization levels and benefit from a constructive refining environment. However, the increase in crude oil prices due to renewed tensions in the Middle East remains a cause of concern, as it may raise feedstock costs.

PARR & VLO: Other Refining Players to Benefit From Tight Fuel MarketsPar Pacific Holdings (PARR - Free Report) operates an integrated downstream energy business across the United States, with fuel retail operations in Hawaii, Washington and Idaho; refining operations in Hawaii, Wyoming, Washington and Montana; and a supporting logistics network. Its refineries have a combined crude oil throughput capacity of 219,000 barrels per day and produce gasoline, diesel, jet fuel, marine fuels, asphalt and other petroleum products. Management noted that Par Pacific has no crack spread hedges in place, which should enable it to benefit from rising refining margins.

Valero Energy (VLO - Free Report) is among the largest independent refiners in the United States, with a combined high-complexity throughput capacity of nearly 3 million barrels per day across its refineries. Its refining footprint is heavily concentrated along the U.S. Gulf Coast and the Midcontinent, offering feedstock sourcing flexibility, with management emphasizing that crude availability is not a significant constraint for the company. Moreover, its Gulf Coast access enables it to sell refined products in high-demand markets and capitalize on the current increase in export demand for distillates driven by the supply disruptions in the Middle East. This positions Valero to benefit from elevated refining margins and strong international demand for refined products.

PSX’s Price Performance, Valuation & Estimates

Phillips 66 shares have gained 67.5% over the past year compared with the industry's 53.4% growth.

Image Source: Zacks Investment Research

From a valuation standpoint, PSX trades at a trailing 12-month enterprise-value-to-EBITDA (EV/EBITDA) of 13.72X. This is above the broader industry average of 5.95X.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for PSX's 2026 earnings has seen upward revisions over the past seven days.

Image Source: Zacks Investment Research

PSX currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Kevin J. Mitchell, Exec. VP and CFO of Phillips 66 (PSX +5.27%), reported a sale of 11,021 shares on July 9, 2026, according to an SEC Form 4 filing.

Transaction summaryMetricValueTransaction value$2.1 millionShares sold11,021Post-transaction shares (directly held)97,376Post-transaction value$18.48 millionKey questionsWhat was the mechanism and timing of this transaction?
The CFO executed an exercise of 11,021 options at a strike price of $94.97 and immediately sold the shares at a weighted average price of $190.03. This activity was automated under a Rule 10b5-1 trading plan adopted on November 21, 2025, which allows insiders to execute pre-planned trades to diversify holdings.How does this disposition affect the executive's total equity exposure?
The transaction reduced Kevin J. Mitchell's direct common stock holdings by 10%. Following the sale, he retains 97,376 shares of common stock, which includes 31,849 Restricted Stock Units that settle for shares on a 1-for-1 basis, along with 2,050 additional derivative securities.What is the market context for this sale?
The transaction occurred after the stock delivered a 45% return over the 12 months ending July 9. Based on the July 10, 2026 market close of $188.36, the CFO's remaining direct equity position is valued at approximately $18.3 million.Company OverviewMetricValueShare Price (as of market close 2026-07-10)$188.36Market Capitalization$75.5 billionRevenue (TTM)$134.5 billionNet Income (TTM)$4.1 billionCompany SnapshotPhillips 66 operates a diversified energy business spanning midstream infrastructure, refining, chemicals, and marketing & specialties segments, generating revenue through crude oil processing, petroleum product distribution, energy commodity transportation, and specialty chemical production.The company generates earnings through integrated operations that combine capital-intensive refining and logistics assets with downstream chemical manufacturing and marketing activities, capturing value across the energy value chain from feedstock processing to end-market distribution.Phillips 66 serves a broad customer base including petroleum refiners, chemical manufacturers, transportation and logistics operators, and industrial end-users requiring refined products, specialty chemicals, and energy infrastructure services.Phillips 66 is a diversified energy company with a $75.5 billion market capitalization, positioning it as a significant integrated player in the energy sector. The company's competitive advantage derives from its vertically integrated business model spanning midstream logistics, refining operations, and specialty chemicals, enabling operational synergies and margin capture across multiple energy value chain segments. With 13,200 employees and a strategic focus on both traditional energy infrastructure and specialty chemical markets, Phillips 66 maintains a balanced portfolio approach to energy sector exposure.

What this transaction means for investorsThis sale isn’t small, at roughly 10% of direct common stock holdings, but it still ultimately reads like a routine, well-structured cash-out and not a bet against the stock. Mitchell exercised options struck at $94.97 and sold at $190.03 the same day, capturing a spread of nearly $95 a share under a plan he set eight months earlier.

Meanwhile, the company’s latest results give some room to hold the rest. In the first quarter, Phillips 66 surprised a Street that had braced for a loss, posting adjusted earnings of $0.49 per share as realized refining margins hit $10.11 with crude utilization at roughly 95%. Management guided to low-to-mid 90% refining utilization for the second quarter.

For long-term investors, the insider sale is essentially background noise. The real questions are whether refining margins hold, whether the debt-reduction and asset-sale plan stays on track, and how the activist pressure from Elliott reshapes the portfolio after some recent board changes. The firm reports second-quarter earnings on August 5.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool recommends Phillips 66. The Motley Fool has a disclosure policy.

Phillips 66 CEO Mark Lashier speaks at the Reuters Global Energy Forum in New York City, U.S., June 24, 2026. Julian Guideras/Handout via REUTERS Purchase Licensing Rights, opens new tab

CompaniesJune 24 (Reuters) - Phillips 66 (PSX.N), opens new tab CEO Mark Lashier said at the Reuters Global Energy Forum ​in New York on Wednesday that ‌refining and petrochemical earnings face greater volatility due to uncertainty from disruptions in the Strait ​of Hormuz.

The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here.

Lashier added that the company ​has taken about $1 per barrel of cost ⁠out of its refining business and ​is targeting $5.50 per barrel, while costs in California ​are around $15 a barrel.

"We actually have improved our yield of high-value products for our refineries, and ​we've enhanced our utilization, running our ​refiners at higher rates as we've lowered the cost," ‌he ⁠added.

Lashier noted that the company's significant investment in integration has paid off, allowing it to capitalize on market opportunities.

The company ​capitalized on ​high prices ⁠in California by moving refined products there when the state ​was dependent on costly Asian-linked supplies ​and ⁠also delivered North American crude to its East Coast refineries, which rely on ⁠the ​Atlantic basin, during a period ​of elevated oil prices.

Reporting by Pooja Menon in Bengaluru ​and Liz Hampton; Editing by Mark Porter

Our Standards: The Thomson Reuters Trust Principles., opens new tab