Phillips 66 (PSX) Projected to Release Earnings on Wednesday

Key Points

• Phillips 66 is expected to report Q3 2026 results before the market opens on October 28. Analysts forecast earnings of $11.79 per share on $44.85 billion in revenue, following a substantial earnings and revenue beat in the prior quarter.
• The company raised its quarterly dividend by 4.7% to $1.33 per share and authorized a $10 billion share-repurchase program, supporting shareholder returns.
• Despite generally positive analyst sentiment and a “Moderate Buy” consensus, Phillips 66 faces risks from volatile refining margins, elevated debt, insider selling, and a labor dispute at its New Jersey refinery.

Phillips 66 (NYSE:PSX - Get Free Report) is expected to be posting its Q3 2026 results before the market opens on Wednesday, October 28th. Analysts expect Phillips 66 to announce earnings of $11.79 per share and revenue of $44.85 billion for the quarter. Interested persons can check the company's upcoming Q3 2026 earnings report page for the latest details on the call scheduled for Wednesday, October 28, 2026 at 12:00 PM ET.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share for the quarter, beating analysts' consensus estimates of $7.50 by $1.91. The business had revenue of $51 billion during the quarter, compared to analysts' expectations of $43.60 billion. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%. During the same period in the previous year, the firm posted $2.38 earnings per share. On average, analysts expect Phillips 66 to post $31.12 EPS for the current fiscal year and $31.24 EPS for the next fiscal year.

Phillips 66 Price Performance

PSX stock opened at $291.35 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $116.25 billion, a PE ratio of 16.60 and a beta of 0.71. Phillips 66 has a 12-month low of $126.92 and a 12-month high of $299.39. The business's fifty day moving average price is $259.58 and its 200 day moving average price is $208.77.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 17th will be given a $1.33 dividend. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $5.32 annualized dividend and a yield of 1.8%. This is an increase from Phillips 66's previous quarterly dividend of $1.27. Phillips 66's dividend payout ratio is presently 28.95%.

Phillips 66 declared that its board has authorized a stock repurchase plan on Friday, July 31st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the oil and gas company to reacquire up to 11.8% of its stock through open market purchases. Share repurchase plans are usually an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Phillips 66 news, EVP Brian Mandell sold 30,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $215.00, for a total value of $6,450,000.00. Following the sale, the executive vice president directly owned 61,595 shares of the company's stock, valued at approximately $13,242,925. This represents a 32.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Richard G. Harbison sold 52,100 shares of the firm's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $223.76, for a total transaction of $11,657,896.00. Following the completion of the sale, the executive vice president owned 39,094 shares in the company, valued at $8,747,673.44. The trade was a 57.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 108,800 shares of company stock valued at $25,016,566 in the last quarter. 0.40% of the stock is owned by insiders.

Phillips 66 News Roundup

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

• Positive Sentiment: Phillips 66 raised its quarterly dividend 4.7% to $1.33 per share, or $5.32 annualized, supporting the stock’s income appeal. The dividend is payable December 1 to shareholders of record November 17. Phillips 66 Stock Is Up 133%. Can Its Dividend Keep Growing?
• Positive Sentiment: Exchange-traded funds recorded approximately $167.4 million of net buying in Phillips 66 on October 16, indicating institutional or passive-investment demand that could provide support for the shares. Phillips 66 Sees $167.4 Million in Net ETF Buying
• Positive Sentiment: A Zacks analysis describes PSX as a strong growth stock based on its style-rating framework, adding to the favorable sentiment around the company’s recent performance. Here's Why Phillips 66 Is a Strong Growth Stock
• Neutral Sentiment: The stock’s roughly 133% gain this year has increased investor attention, but analysts note that elevated debt and volatile refining margins could make future dividend increases harder to sustain. Phillips 66 Stock Is Up 133%. Can Its Dividend Keep Growing?
• Negative Sentiment: Phillips 66 has locked out union workers at its New Jersey refinery after a contract extension expired. The dispute could disrupt refinery operations, increase labor-related costs, or prolong uncertainty around production. Phillips 66 Locks Out Union Workers at New Jersey Refinery

Wall Street Analyst Weigh In

PSX has been the topic of several research reports. BMO Capital Markets increased their price target on shares of Phillips 66 from $260.00 to $310.00 and gave the stock an "outperform" rating in a research report on Thursday, September 17th. The Goldman Sachs Group raised their price target on shares of Phillips 66 from $245.00 to $274.00 and gave the company a "neutral" rating in a research report on Wednesday, September 30th. Piper Sandler boosted their price target on shares of Phillips 66 from $209.00 to $264.00 and gave the stock a "neutral" rating in a research note on Thursday, September 3rd. Mizuho restated a "neutral" rating and issued a $300.00 price target (up from $220.00) on shares of Phillips 66 in a research note on Thursday, October 8th. Finally, TD Cowen upped their price objective on Phillips 66 from $255.00 to $295.00 and gave the stock a "buy" rating in a research report on Wednesday, September 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $269.06.

Phillips 66 Company Profile

Phillips 66 NYSE: PSX is an energy manufacturing and logistics company headquartered in Houston, Texas. The company was established in 2012 following the separation of ConocoPhillips' downstream and midstream businesses.

Phillips 66 operates across midstream, chemicals, refining and marketing. Its midstream activities include gathering, processing, transporting and storing crude oil, natural gas and natural gas liquids. Through its refining operations, the company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, lubricants and other refined petroleum products.

The company markets fuel and related products under the Phillips 66, 76 and Conoco brands, serving retail, commercial, aviation and industrial customers.

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