Phillips 66 (NYSE:PSX) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan raised its price target on Phillips 66 to $202 from $188, implying about 16.2% upside, and several other analysts have also boosted targets, leaving a consensus price target near $184.50 with a "Moderate Buy" rating.
• Q1 earnings beat: Phillips 66 reported EPS of $0.49 versus an expected ($0.54), driven by stronger refining margins, though revenue of $32.54 billion missed estimates and the quarter included derivative mark-to-market losses and planned turnaround costs.
• Insider selling has been notable (95,923 shares sold in the last quarter, including sales by the EVP and CFO), while institutional investors own roughly 76.9% of the company.

Phillips 66 (NYSE:PSX - Get Free Report) had its price target increased by equities researchers at JPMorgan Chase & Co. from $188.00 to $202.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 16.19% from the stock's current price.

A number of other equities analysts have also weighed in on the stock. Citigroup upped their target price on shares of Phillips 66 from $159.00 to $183.00 and gave the stock a "neutral" rating in a research report on Thursday, April 9th. Mizuho upped their target price on shares of Phillips 66 from $152.00 to $170.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 17th. Wells Fargo & Company upped their target price on shares of Phillips 66 from $163.00 to $201.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 31st. BMO Capital Markets upped their target price on shares of Phillips 66 from $175.00 to $195.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 7th. Finally, Zacks Research upgraded shares of Phillips 66 from a "hold" rating to a "strong-buy" rating in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $184.50.

Phillips 66 Price Performance

Shares of PSX traded down $5.30 during mid-day trading on Thursday, reaching $173.85. The stock had a trading volume of 153,883 shares, compared to its average volume of 3,007,326. The firm has a market cap of $69.67 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 0.29 and a beta of 0.76. Phillips 66 has a 12 month low of $103.38 and a 12 month high of $190.61. The business has a fifty day moving average of $167.69 and a 200 day moving average 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 (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, topping analysts' consensus estimates of ($0.54) by $1.03. The business had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 11.04%. The company's revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.90) earnings per share. Equities analysts predict that Phillips 66 will post 15.47 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Brian Mandell sold 42,800 shares of the stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $169.53, for a total value of $7,255,884.00. Following the sale, the executive vice president owned 61,595 shares of the company's stock, valued at approximately $10,442,200.35. This represents a 41.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevin J. Mitchell sold 15,629 shares of the stock in a transaction on Monday, March 30th. The shares were sold at an average price of $190.07, for a total transaction of $2,970,604.03. Following the completion of the sale, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $18,508,256.32. This represents a 13.83% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 95,923 shares of company stock valued at $16,399,619. 0.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PSX. Vanguard Group Inc. increased its stake in Phillips 66 by 11.6% in the 3rd quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company's stock worth $7,035,574,000 after buying an additional 5,356,558 shares during the period. Norges Bank purchased a new position in Phillips 66 in the 4th quarter worth about $640,206,000. M&T Bank Corp increased its stake in Phillips 66 by 462.9% in the 4th quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company's stock worth $352,007,000 after buying an additional 2,243,268 shares during the period. AQR Capital Management LLC increased its stake in Phillips 66 by 424.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company's stock worth $257,512,000 after buying an additional 1,532,389 shares during the period. Finally, Worldquant Millennium Advisors LLC purchased a new position in Phillips 66 in the 2nd quarter worth about $107,967,000. Hedge funds and other institutional investors own 76.93% of the company's stock.

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

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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