Q2 EPS Estimates for Phillips 66 Raised by Zacks Research

Key Points

• Zacks Research has raised its Q2 2026 earnings estimate for Phillips 66 to $2.16 per share, up from the previous forecast of $2.15, maintaining a "Strong-Buy" rating on the stock.
• Phillips 66 has experienced analyst rating fluctuations, with Bank of America downgrading it to "neutral," while others like Barclays and TD Cowen have raised target prices, indicating mixed sentiment among analysts.
• The company recently declared a quarterly dividend of $1.20 per share, reflecting a 3.5% dividend yield, despite a payout ratio of 115.38%.

Phillips 66 (NYSE:PSX - Free Report) - Research analysts at Zacks Research lifted their Q2 2026 earnings estimates for shares of Phillips 66 in a research note issued to investors on Monday, September 29th. Zacks Research analyst Team now expects that the oil and gas company will post earnings per share of $2.16 for the quarter, up from their prior forecast of $2.15. Zacks Research has a "Strong-Buy" rating on the stock. The consensus estimate for Phillips 66's current full-year earnings is $6.80 per share. Zacks Research also issued estimates for Phillips 66's Q4 2026 earnings at $2.73 EPS, FY2026 earnings at $9.32 EPS and Q1 2027 earnings at $2.65 EPS.

Several other equities research analysts have also recently weighed in on the company. Bank of America cut Phillips 66 from a "buy" rating to a "neutral" rating and upped their target price for the stock from $144.00 to $147.00 in a report on Wednesday, September 3rd. Barclays increased their target price on shares of Phillips 66 from $115.00 to $127.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. TD Cowen boosted their price target on shares of Phillips 66 from $130.00 to $134.00 and gave the company a "buy" rating in a report on Monday, July 28th. Argus raised shares of Phillips 66 to a "strong-buy" rating in a research report on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of Phillips 66 from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, Phillips 66 currently has an average rating of "Moderate Buy" and an average target price of $139.44.

Phillips 66 Stock Down 1.1%

Shares of NYSE:PSX opened at $136.06 on Wednesday. The business's 50 day moving average is $128.37 and its 200 day moving average is $120.32. The stock has a market cap of $54.98 billion, a P/E ratio of 32.71, a price-to-earnings-growth ratio of 1.95 and a beta of 1.15. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $142.35. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.59. The firm had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same quarter in the previous year, the firm posted $2.31 earnings per share.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Tuesday, August 19th. Phillips 66's payout ratio is presently 115.38%.

Insider Activity at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the transaction, the executive vice president directly owned 34,587 shares of the company's stock, valued at approximately $4,842,180. This represents a 11.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory Hayes bought 8,350 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were purchased at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the acquisition, the director directly owned 29,423 shares of the company's stock, valued at approximately $3,527,817.70. This trade represents a 39.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 9,850 shares of company stock valued at $1,188,910 and sold 13,179 shares valued at $1,779,165. 0.22% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Phillips 66

A number of institutional investors have recently bought and sold shares of PSX. Evolution Wealth Management Inc. acquired a new position in Phillips 66 during the second quarter valued at $25,000. Wolff Wiese Magana LLC raised its stake in shares of Phillips 66 by 62.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company's stock valued at $26,000 after buying an additional 82 shares during the last quarter. von Borstel & Associates Inc. acquired a new position in shares of Phillips 66 in the 1st quarter valued at about $27,000. Olde Wealth Management LLC purchased a new stake in shares of Phillips 66 in the first quarter worth about $28,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Phillips 66 during the first quarter worth about $29,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

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