Phillips 66 (NYSE:PSX) Given New $215.00 Price Target at Raymond James Financial

Key Points

• Raymond James raised its price target to $215 (from $205), implying about a 23.7% upside, and multiple analysts have boosted targets recently, leaving a MarketBeat average price target of $184.50 and a "Moderate Buy" consensus.
• Q1 results beat expectations—Phillips 66 reported EPS of $0.49 versus a consensus loss of ($0.54), supported by stronger refining margins and throughput, although large mark-to-market derivative losses and $120–$150M in Q2 turnaround costs could pressure near-term results.
• Shares and insider activity: PSX traded around $173.85 (down ~3% intraday) with a market cap near $69.7B, insiders sold about 95,923 shares (~$16.4M) over the past 90 days, and institutional investors own roughly 76.9% of the stock.

Phillips 66 (NYSE:PSX - Get Free Report) had its price objective hoisted by Raymond James Financial from $205.00 to $215.00 in a note issued to investors on Thursday,MarketScreener reports. Raymond James Financial's price objective would suggest a potential upside of 23.67% from the stock's current price.

Several other equities research analysts also recently issued reports on the company. Scotiabank lifted 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. BMO Capital Markets lifted their price objective on Phillips 66 from $175.00 to $195.00 and gave the stock an "outperform" rating in a report on Tuesday, April 7th. The Goldman Sachs Group lifted their price objective on Phillips 66 from $186.00 to $192.00 and gave the stock a "neutral" rating in a report on Friday, April 10th. Weiss Ratings upgraded Phillips 66 from a "hold (c)" rating to a "buy (b-)" rating in a report on Monday, February 23rd. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $180.00 price target on shares of Phillips 66 in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $184.50.

Phillips 66 Stock Down 3.0%

PSX stock traded down $5.30 during midday trading on Thursday, hitting $173.85. 153,883 shares of the company's stock were exchanged, compared to its average volume of 3,007,326. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12-month low of $103.38 and a 12-month high of $190.61. The firm has a 50 day moving average price of $167.69 and a 200-day moving average price of $149.00. The stock has a market capitalization of $69.67 billion, a price-to-earnings ratio of 17.21, a price-to-earnings-growth ratio of 0.29 and a beta of 0.76.

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 (EPS) for the quarter, topping the consensus estimate of ($0.54) by $1.03. Phillips 66 had a return on equity of 11.04% and a net margin of 2.99%.The company had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. During the same period in the previous year, the business earned ($0.90) EPS. Phillips 66's revenue for the quarter was up 6.9% compared to the same quarter last year. On average, analysts anticipate that Phillips 66 will post 15.47 EPS for the current year.

Insider Activity

In related news, EVP Don Baldridge sold 7,500 shares of the company's stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the executive vice president directly owned 38,488 shares in the company, valued at $6,158,080. This represents a 16.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lisa Ann Davis sold 3,800 shares of the company's stock in a transaction on Friday, March 13th. The stock was sold at an average price of $174.37, for a total value of $662,606.00. Following the transaction, the director owned 8,701 shares of the company's stock, valued at approximately $1,517,193.37. The trade was a 30.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 95,923 shares of company stock worth $16,399,619 over the last 90 days. Insiders own 0.40% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Clifford Group LLC grew its holdings in shares of 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 buying an additional 64 shares in the last quarter. CYBER HORNET ETFs LLC grew its holdings in shares of Phillips 66 by 5.7% during the fourth quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company's stock worth $158,000 after buying an additional 66 shares in the last quarter. L2 Asset Management LLC grew its holdings in shares of Phillips 66 by 4.0% during the third quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company's stock worth $257,000 after buying an additional 72 shares in the last quarter. GHP Investment Advisors Inc. grew its holdings in shares of Phillips 66 by 2.3% during the fourth quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company's stock worth $414,000 after buying an additional 72 shares in the last quarter. Finally, Johnson Financial Group Inc. grew its holdings in shares of Phillips 66 by 11.9% during the fourth quarter. Johnson Financial Group Inc. now owns 679 shares of the oil and gas company's stock worth $88,000 after buying an additional 72 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Trending Headlines about Phillips 66

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

• Positive Sentiment: Q1 earnings beat — PSX reported an unexpected quarterly profit driven by higher realized refining margins and improved throughput; the market focused on underlying operations rather than derivative losses. Phillips 66 Q1 2026 Earnings Call Summary
• Positive Sentiment: Analyst upgrade / momentum — Tudor Pickering upgraded PSX from Hold to Strong Buy, and Zacks added PSX to its Rank #1 (Strong Buy) growth stocks list, boosting sentiment and buy-side interest. Zacks.com TickerReport
• Positive Sentiment: Oil price tailwind — Brent crude spiked toward $117 on Iran-related geopolitical risk, supporting refining margins and near-term profitability for refiners like PSX. Brent Crude Spikes to $117
• Neutral Sentiment: Operations update — Management said refineries are running in the low- to mid-90% range of combined capacity, which supports volumes but is largely in line with expectations. Reuters: Phillips 66 running refineries
• Neutral Sentiment: Peer context — Valero’s blowout Q1 results on surging crack spreads underscore sector strength; peers’ results can buoy PSX multiple but also set higher expectations. Valero Energy's Earnings
• Negative Sentiment: Derivative losses and near-term costs — The quarter included large mark-to-market losses on derivatives (management noted sizable pre-tax impacts) and guidance of $120M–$150M in Q2 turnaround expense; these weigh on reported profits and cash. Seeking Alpha: debt target & turnaround expense

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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