Phillips 66 (NYSE:PSX) Rating Increased to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Phillips 66 (PSX) from a "hold" to a Strong-Buy and added the stock to multiple Rank #1 lists, which could attract short-term momentum and income-focused buyers.
• Several analysts have raised price targets (Wells Fargo to $201, Goldman to $192, Scotiabank to $151), leaving PSX with a consensus rating of Moderate Buy and an average price target of $181.33; the shares trade near $165 and the company recently posted a quarterly EPS beat of $2.47 vs. $2.15.
• Strategic moves include completing the acquisition of the Lindsey Oil Refinery assets in the U.K., but near-term risks remain—preview reports flag a potential Q1 EPS loss and supply-shock pressures—and insiders have been net sellers (95,923 shares sold in the last 90 days).

Phillips 66 (NYSE:PSX - Get Free Report) was upgraded by investment analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Monday,Zacks.com reports.

PSX has been the topic of several other reports. Scotiabank increased their target price on shares of Phillips 66 from $140.00 to $151.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 22nd. Wells Fargo & Company upped their price objective on shares of Phillips 66 from $163.00 to $201.00 and gave the stock an "overweight" rating in a report on Tuesday, March 31st. The Goldman Sachs Group upped their price objective on shares of Phillips 66 from $186.00 to $192.00 and gave the stock a "neutral" rating in a report on Friday, April 10th. Mizuho upped their price objective on shares of Phillips 66 from $152.00 to $170.00 and gave the stock a "neutral" rating in a report on Tuesday, March 17th. Finally, Morgan Stanley upped their price objective on shares of Phillips 66 from $140.00 to $147.00 and gave the stock an "equal weight" rating in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $181.33.

Phillips 66 Stock Up 0.6%

Shares of NYSE PSX opened at $165.04 on Monday. The firm has a market cap of $66.14 billion, a PE ratio of 15.25, a P/E/G ratio of 0.28 and a beta of 0.76. Phillips 66 has a 12-month low of $102.16 and a 12-month high of $190.61. The company's fifty day simple moving average is $166.90 and its 200 day simple moving average is $148.62. The company has a quick ratio of 0.91, a current ratio of 1.30 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.32. The business had revenue of $32.16 billion for the quarter, compared to analyst estimates of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. During the same period in the prior year, the firm earned ($0.15) earnings per share. As a group, sell-side analysts forecast that Phillips 66 will post 15.18 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Vanessa Allen Sutherland sold 4,394 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total value of $659,100.00. Following the completion of the sale, the executive vice president owned 25,799 shares in the company, valued at $3,869,850. This represents a 14.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevin J. Mitchell sold 16,856 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $168.22, for a total transaction of $2,835,516.32. Following the completion of the sale, the chief financial officer owned 97,376 shares of the company's stock, valued at approximately $16,380,590.72. This represents a 14.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 95,923 shares of company stock valued at $16,399,619. 0.40% of the stock is currently owned by insiders.

Institutional Trading of Phillips 66

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Phillips 66 by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company's stock valued at $6,701,052,000 after purchasing an additional 205,480 shares during the last quarter. State Street Corp raised its holdings in shares of Phillips 66 by 0.8% in the fourth quarter. State Street Corp now owns 23,589,550 shares of the oil and gas company's stock valued at $3,043,996,000 after purchasing an additional 175,616 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Phillips 66 by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company's stock valued at $1,338,596,000 after purchasing an additional 45,340 shares during the last quarter. Norges Bank purchased a new stake in shares of Phillips 66 in the fourth quarter valued at about $640,206,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Phillips 66 by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,944,561 shares of the oil and gas company's stock valued at $509,006,000 after purchasing an additional 89,621 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Phillips 66 News Summary

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

• Positive Sentiment: Zacks added PSX to multiple Rank #1 (Strong Buy) lists — including momentum and income picks — which can attract buy-side flows and short-term momentum traders. Best Momentum Stocks to Buy for April 28th New Strong Buy Stocks for April 28th Best Income Stocks to Buy for April 28th
• Positive Sentiment: Analyst upgrade to earnings forecasts: Scotiabank raised its FY2026 EPS estimate materially (from $10.35 to $12.05), signaling analysts see stronger earnings potential than previously modeled. That improves forward earnings visibility versus peers. Scotiabank raises FY2026 EPS estimate
• Positive Sentiment: Strategic asset addition: Phillips 66 Limited completed the acquisition of Prax Lindsey Oil Refinery assets in the U.K., expanding refining footprint and potential product supply flexibility in Europe. This is a tangible growth/capacity move that supports mid- to long-term earnings. Phillips 66 Limited completes acquisition of Lindsey Oil Refinery assets
• Positive Sentiment: Institutional/press recognition: PSX is cited in recent screens and articles (Zacks, Yahoo) highlighting women-led companies and growth-oriented profiles, which can broaden investor interest and demand. 5 Women-Run Company Stocks to Buy for Strong Market Returns 5 Women-Run Company Stocks to Buy for Strong Market Returns (Zacks)
• Neutral Sentiment: Zacks published a positive thematic piece on PSX as a strong-growth stock using its Style Scores — useful context for investors but not an immediate catalyst. Here's Why Phillips 66 (PSX) is a Strong Growth Stock
• Neutral Sentiment: Pre-earnings analysis: Zacks’ “countdown to Q1 earnings” piece walks through metric-level estimates beyond revenue/EPS, which helps set expectations but does not change fundamentals by itself. Countdown to Phillips 66 (PSX) Q1 Earnings
• Negative Sentiment: Q1 outlook risk: Several previews (Zacks, Yahoo) note a projected Q1 EPS loss (~$0.55) and declines in midstream revenues and product sales volumes year-over-year — a clear near-term earnings headwind that could pressure the stock if results miss expectations. Phillips 66 Set to Report Q1 Earnings: What's in the Offing? Phillips 66 Set to Report Q1 Earnings (Zacks)
• Negative Sentiment: Operational risk from global supply shocks: Coverage (MSN) highlights supply-blockade dynamics affecting refiners, which could compress margins or disrupt volumes in the near term. Navigating the blockade: Phillips 66, Valero, and ConocoPhillips face Q1 test amid global supply shocks

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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