Phillips 66 (NYSE:PSX) Rating Increased to Strong-Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Phillips 66 from "buy" to "strong‑buy", and several brokers have raised price targets — MarketBeat's consensus rating is a Moderate Buy with an average target of $184.50.
• Phillips 66 posted a Q1 EPS beat ($0.49 vs. -$0.54 est) but missed revenue and warned of roughly $120–$150M in Q2 turnaround costs, while management targets reducing net debt to about $17B by year-end 2027.

Phillips 66 (NYSE:PSX - Get Free Report) was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Saturday.

PSX has been the topic of a number of other reports. Zacks Research raised shares of Phillips 66 from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 27th. JPMorgan Chase & Co. increased their target price on shares of Phillips 66 from $188.00 to $202.00 in a research report on Thursday. Argus increased their target price on shares of Phillips 66 from $152.00 to $185.00 and gave the company a "buy" rating in a research report on Tuesday, February 10th. Jefferies Financial Group downgraded shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. Finally, BMO Capital Markets increased their target price on shares of Phillips 66 from $175.00 to $195.00 and gave the company an "outperform" rating in a research report on Tuesday, April 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $184.50.

Phillips 66 Price Performance

Phillips 66 stock opened at $176.45 on Friday. The stock has a market cap of $70.71 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 0.30 and a beta of 0.70. The company has a fifty day simple moving average of $167.69 and a 200-day simple moving average of $149.00. Phillips 66 has a 12-month low of $103.38 and a 12-month high of $190.61. The company has a current ratio of 1.13, a quick ratio of 0.91 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX - Get Free Report) last released 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. The business had revenue of $32.54 billion during 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%. The company's revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.90) EPS. Equities analysts expect that Phillips 66 will post 15.47 EPS for the current fiscal year.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Brian Mandell sold 42,800 shares of the firm's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $169.53, for a total transaction of $7,255,884.00. Following the transaction, the executive vice president directly owned 61,595 shares of the company's stock, valued at approximately $10,442,200.35. This trade represents a 41.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the firm's stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total transaction of $659,100.00. Following the transaction, the executive vice president directly owned 25,799 shares in the company, valued at $3,869,850. The trade was a 14.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 95,923 shares of company stock worth $16,399,619 in the last three months. Company insiders own 0.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Phillips 66 by 11.6% in the third quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company's stock valued at $7,035,574,000 after acquiring an additional 5,356,558 shares in the last quarter. Norges Bank purchased a new stake in shares of Phillips 66 in the fourth quarter valued at about $640,206,000. M&T Bank Corp boosted its holdings in shares of Phillips 66 by 462.9% in the fourth quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company's stock valued at $352,007,000 after acquiring an additional 2,243,268 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Phillips 66 by 424.7% in the third quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company's stock valued at $257,512,000 after acquiring an additional 1,532,389 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC purchased a new stake in shares of Phillips 66 in the second quarter valued at about $107,967,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Phillips 66

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

• Positive Sentiment: Q1 results beat EPS expectations and management emphasized operational strength despite mark-to-market losses, supporting dividend/cash-return credibility. Phillips 66 Q1 2026 Earnings Call Highlights
• Positive Sentiment: Multiple broker upgrades and higher price targets (Raymond James, JPMorgan; Tudor Pickering upgrade to strong-buy) lift sentiment and imply material upside vs. the current price. Raymond James price target raise JPMorgan price target raise Tudor Pickering upgrade report
• Positive Sentiment: Upward pressure on prices/margins from higher crude and pump prices — Brent spiked on geopolitical reports and U.S. gasoline hit a multi-year high, both supporting refining economics. Brent crude spike report Gasoline hits 4-year high
• Positive Sentiment: Industry peers (e.g., Valero) reported huge refining-margin-driven profits, reinforcing that sector tailwinds can benefit Phillips 66’s refining segment. Valero earnings & margin surge
• Neutral Sentiment: Phillips 66 is running its nine refineries in the low- to mid-90% of capacity — steady utilization but not a clear near-term catalyst by itself. Reuters on refinery run rates
• Neutral Sentiment: Zacks added PSX to its Rank #1 (Strong Buy) growth list and several valuation notes highlight strong YTD returns and an “undervalued” narrative — supportive but already priced into the rally. Zacks Rank #1 mention Valuation assessment
• Positive Sentiment: Management set a goal to reduce net debt to ~$17B by year-end 2027, which supports long-term credit/returns if executed. Seeking Alpha: debt target & Q2 expense
• Negative Sentiment: Company flagged Q2 turnaround costs of roughly $120M–$150M and reported revenue below consensus for Q1, which tempers near-term EPS momentum. Seeking Alpha: Q2 turnaround expense

About Phillips 66

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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