FY2026 EPS Estimates for Phillips 66 Increased by Scotiabank

Key Points

• Scotiabank raised its FY2026 EPS estimate for Phillips 66 to $18.30 from $12.05, well above the consensus estimate of $17.64. The firm kept a Sector Perform rating and set a $151 price target.
• Phillips 66 beat earnings expectations in its latest quarterly report, posting $0.49 EPS versus an expected loss of $0.54. However, revenue came in below estimates at $32.54 billion versus $35.86 billion expected.
• The company also announced a quarterly dividend of $1.27 per share, or $5.08 annually, implying a 2.9% yield. The dividend is payable on June 1 to shareholders of record as of May 18.

Phillips 66 (NYSE:PSX - Free Report) - Analysts at Scotiabank lifted their FY2026 earnings per share (EPS) estimates for Phillips 66 in a note issued to investors on Thursday, May 14th. Scotiabank analyst B. Zhang now expects that the oil and gas company will earn $18.30 per share for the year, up from their previous estimate of $12.05. Scotiabank currently has a "Sector Perform" rating and a $151.00 target price on the stock. The consensus estimate for Phillips 66's current full-year earnings is $17.64 per share. Scotiabank also issued estimates for Phillips 66's FY2027 earnings at $19.90 EPS.

Several other research firms have also recently weighed in on PSX. Barclays increased their price objective on Phillips 66 from $158.00 to $177.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 8th. Jefferies Financial Group lowered Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 13th. Argus upped their target price on Phillips 66 from $185.00 to $197.00 and gave the company a "buy" rating in a research note on Thursday. Zacks Research upgraded Phillips 66 from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 27th. Finally, Tudor Pickering upgraded Phillips 66 from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have given 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 price target of $186.28.

Phillips 66 Stock Up 0.1%

PSX opened at $176.42 on Monday. Phillips 66 has a 1-year low of $109.75 and a 1-year high of $190.61. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $70.73 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 0.26 and a beta of 0.70. The business has a 50 day moving average of $170.79 and a 200-day moving average of $151.93.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating the consensus estimate of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company had revenue of $32.54 billion during the quarter, compared to analysts' expectations of $35.86 billion. During the same period in the prior year, the business earned ($0.90) earnings per share. Phillips 66's revenue for the quarter was up 6.9% compared to the same quarter last year.

Institutional Trading of Phillips 66

Several large investors have recently made changes to their positions in the business. Oppenheimer & Co. Inc. increased its stake in shares of Phillips 66 by 57.4% in the third quarter. Oppenheimer & Co. Inc. now owns 56,858 shares of the oil and gas company's stock valued at $7,734,000 after buying an additional 20,742 shares in the last quarter. First National Bank of Omaha acquired a new stake in shares of Phillips 66 in the third quarter valued at $2,357,000. TD Asset Management Inc increased its stake in shares of Phillips 66 by 15.5% in the third quarter. TD Asset Management Inc now owns 174,413 shares of the oil and gas company's stock valued at $23,724,000 after buying an additional 23,364 shares in the last quarter. Caprock Group LLC acquired a new stake in shares of Phillips 66 in the third quarter valued at $2,412,000. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Phillips 66 by 15.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,172,158 shares of the oil and gas company's stock valued at $159,437,000 after buying an additional 160,407 shares in the last quarter. Institutional investors own 76.93% of the company's stock.

Insider Activity

In other Phillips 66 news, CFO Kevin J. Mitchell sold 29,400 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at $16,553,920. This represents a 23.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kevin Omar Meyers acquired 175 shares of the company's stock in a transaction on Wednesday, May 6th. The shares were bought at an average price of $173.12 per share, with a total value of $30,296.00. Following the completion of the purchase, the director directly owned 16,799 shares of the company's stock, valued at approximately $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders sold 121,529 shares of company stock valued at $20,841,455. 0.40% of the stock is owned by company insiders.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Monday, May 18th. Phillips 66's dividend payout ratio is presently 50.05%.

Phillips 66 Company Profile

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.

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