Phillips 66 (NYSE:PSX) Rating Increased to Strong-Buy at Tudor Pickering

Key Points

• Tudor Pickering upgraded Phillips 66 to a "strong‑buy" from "hold," adding to recent bullish analyst actions; the stock carries a consensus "Moderate Buy" rating with an average price target of $183.17.
• Q1 surprise profit—Phillips 66 reported $0.49 EPS vs. an expected ($0.54), driven by stronger refining margins and higher throughput, with revenue up 6.9% year‑over‑year.
• Risks and insider activity: Large mark‑to‑market derivative losses have created GAAP earnings volatility, insiders sold roughly 95,923 shares (~$16.4M) in the last 90 days, and management is targeting debt reduction to about $17B by year‑end 2027.

Phillips 66 (NYSE:PSX - Get Free Report) was upgraded by research analysts at Tudor Pickering from a "hold" rating to a "strong-buy" rating in a report released on Thursday,Zacks.com reports.

A number of other equities analysts also recently commented on PSX. Zacks Research raised shares of Phillips 66 from a "hold" rating to a "strong-buy" rating in a research note on Monday. Morgan Stanley reaffirmed an "overweight" rating and issued a $180.00 price target on shares of Phillips 66 in a report on Thursday. Argus lifted their price target on shares of Phillips 66 from $152.00 to $185.00 and gave the stock a "buy" rating in a report on Tuesday, February 10th. Wolfe Research lifted their price target on shares of Phillips 66 from $187.00 to $193.00 and gave the stock an "outperform" rating in a report on Monday, April 6th. Finally, Weiss Ratings raised shares of Phillips 66 from a "hold (c)" rating to a "buy (b-)" rating in a report on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $183.17.

Phillips 66 Stock Performance

Phillips 66 stock opened at $179.32 on Thursday. The company has a 50 day moving average price of $167.69 and a 200-day moving average price of $149.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.91 and a current ratio of 1.30. Phillips 66 has a fifty-two week low of $103.35 and a fifty-two week high of $190.61. The company has a market capitalization of $71.86 billion, a PE ratio of 17.67, a P/E/G ratio of 0.29 and a beta of 0.76.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results 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 net margin of 2.99% and a return on equity of 11.04%. The firm had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. During the same quarter in the previous year, the firm posted ($0.90) earnings per share. The company's revenue was up 6.9% on a year-over-year basis. As a group, equities analysts forecast that Phillips 66 will post 15.47 earnings per share for the current year.

Insider Buying and Selling

In other Phillips 66 news, EVP Don Baldridge sold 7,500 shares of the company's stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total value of $1,200,000.00. Following the sale, the executive vice president directly owned 38,488 shares of the company's stock, valued at approximately $6,158,080. This represents a 16.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin J. Mitchell sold 15,629 shares of the company's stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $190.07, for a total transaction of $2,970,604.03. Following the completion of the transaction, the chief financial officer owned 97,376 shares of the company's stock, valued at approximately $18,508,256.32. This trade represents a 13.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 95,923 shares of company stock valued at $16,399,619 in the last 90 days. 0.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PSX. Brighton Jones LLC raised its position in shares of Phillips 66 by 238.5% in the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock worth $1,166,000 after acquiring an additional 7,214 shares during the period. Woodline Partners LP grew its stake 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 valued at $4,308,000 after acquiring an additional 10,089 shares in the last quarter. Sei Investments Co. grew its stake 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 valued at $18,788,000 after acquiring an additional 34,698 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake 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 acquiring an additional 28,988 shares in the last quarter. Finally, Glenview Trust co grew its stake 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 acquiring an additional 229 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company's stock.

Key Headlines Impacting Phillips 66

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

• Positive Sentiment: Q1 surprise profit and earnings upside driven by stronger realized refining margins and higher throughput — market is rewarding the operating improvement. Phillips 66 Beats Q1 Estimates
• Positive Sentiment: Refinery utilization and capacity expansion support near-term earnings: company said it’s running refineries in the low‑to‑mid‑90% range and highlighted midstream/export expansions that improve placement optionality and margins. Phillips 66 running refineries in low- mid-90 range
• Positive Sentiment: Industry tailwinds: U.S. gasoline prices have jumped to multi‑year highs and peer refiners (e.g., Valero) are reporting big crack‑spread gains — a favorable backdrop for Phillips 66’s refining margins. Gasoline Hits 4-Year High
• Neutral Sentiment: Corporate finance update: management reiterated a target to reduce debt to ~$17B by year‑end 2027 — a positive long‑term signal but one that may involve near‑term cash allocation decisions. Phillips 66 targets $17B debt by year-end 2027
• Negative Sentiment: Significant mark‑to‑market derivative losses materially depressed GAAP EPS (management noted large pre‑tax losses tied to a net short hedging position), creating earnings volatility and a gap between operating performance and reported results. Phillips 66 Q1 2026 Earnings Call Highlights

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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