Zacks Research Lowers Earnings Estimates for Phillips 66

Key Points

• Zacks Research has lowered its earnings estimates for Phillips 66's Q3 2025, predicting earnings of $1.94 per share, down from a prior estimate of $1.95.
• Other analysts have varied perspectives on Phillips 66, with UBS Group raising its price target to $150.00, while Citigroup downgraded its rating from "buy" to "neutral."
• Phillips 66 announced a quarterly dividend of $1.20 per share, reflecting an annualized yield of 3.6% despite a dividend payout ratio of 115.38%.

Phillips 66 (NYSE:PSX - Free Report) - Investment analysts at Zacks Research cut their Q3 2025 earnings estimates for Phillips 66 in a report issued on Monday, September 29th. Zacks Research analyst Team now expects that the oil and gas company will post earnings of $1.94 per share for the quarter, down from their previous forecast of $1.95. Zacks Research currently 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 Q1 2026 earnings at $1.65 EPS, Q2 2027 earnings at $3.36 EPS and Q3 2027 earnings at $3.06 EPS.

Other equities analysts have also issued reports about the company. UBS Group boosted their price target on Phillips 66 from $143.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, September 22nd. Barclays boosted their price target on Phillips 66 from $115.00 to $127.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Citigroup lowered Phillips 66 from a "buy" rating to a "neutral" rating and upped their target price for the stock from $126.00 to $130.00 in a research report on Wednesday, July 16th. Cantor Fitzgerald assumed coverage on Phillips 66 in a research report on Wednesday, June 18th. They set a "neutral" rating on the stock. Finally, Bank of America lowered 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 research report on Wednesday, September 3rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, Phillips 66 has a consensus rating of "Moderate Buy" and an average price target of $139.44.

Phillips 66 Price Performance

Shares of PSX opened at $134.68 on Thursday. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $142.35. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The business's 50 day moving average price is $128.50 and its two-hundred day moving average price is $120.42. The firm has a market cap of $54.43 billion, a PE ratio of 32.37, a price-to-earnings-growth ratio of 1.97 and a beta of 1.11.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates 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 return on equity of 4.87% and a net margin of 1.27%.During the same period last year, the business posted $2.31 EPS.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.6%. Phillips 66's dividend payout ratio (DPR) is currently 115.38%.

Insiders Place Their Bets

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm's stock in a transaction on Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the sale, the executive vice president directly owned 34,587 shares of the company's stock, valued at $4,842,180. This trade represents a 11.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael A. Heim bought 1,000 shares of the firm's stock in a transaction dated Wednesday, July 30th. The shares were acquired at an average cost of $125.97 per share, with a total value of $125,970.00. Following the completion of the transaction, the director owned 12,043 shares in the company, valued at approximately $1,517,056.71. The trade was a 9.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, 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.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Elliott Investment Management L.P. boosted its stake in Phillips 66 by 1,929.0% in the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company's stock worth $1,941,723,000 after purchasing an additional 14,950,000 shares during the period. Vanguard Group Inc. boosted its position in shares of Phillips 66 by 14.8% during the 2nd quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company's stock valued at $5,531,702,000 after acquiring an additional 5,978,841 shares during the last quarter. Norges Bank bought a new stake in shares of Phillips 66 during the 2nd quarter valued at about $523,755,000. Geode Capital Management LLC boosted its position in shares of Phillips 66 by 17.4% during the 2nd quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company's stock valued at $1,226,815,000 after acquiring an additional 1,532,967 shares during the last quarter. Finally, Valeo Financial Advisors LLC boosted its position in shares of Phillips 66 by 9,530.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,446,469 shares of the oil and gas company's stock valued at $172,564,000 after acquiring an additional 1,431,450 shares during the last quarter. Institutional investors own 76.93% of the company's stock.

Phillips 66 Company Profile

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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