Phillips 66 (NYSE:PSX) Price Target Raised to $202.00 at JPMorgan Chase & Co.

Phillips 66 (NYSE:PSX) had its price objective lifted by JPMorgan Chase & Co. from $188.00 to $202.00 in a report released on Thursday morning,MarketScreener reports.

A number of other brokerages have also weighed in on PSX. 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. Weiss Ratings upgraded shares of Phillips 66 from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Wolfe Research increased their price objective on shares of Phillips 66 from $187.00 to $193.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Raymond James Financial raised their price objective on Phillips 66 from $175.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, March 25th. Finally, Zacks Research upgraded 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 assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $184.50.

Phillips 66 Price Performance

PSX traded down $4.13 on Thursday, hitting $175.03. 431,459 shares of the company’s stock traded hands, compared to its average volume of 3,010,261. The company’s 50 day simple moving average is $167.69 and its 200-day simple moving average is $149.00. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62. Phillips 66 has a one year low of $103.38 and a one year high of $190.61. The firm has a market cap of $70.14 billion, a price-to-earnings ratio of 17.26, a P/E/G ratio of 0.29 and a beta of 0.76.

Phillips 66 (NYSE:PSX) 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 the consensus estimate of ($0.54) by $1.03. Phillips 66 had a return on equity of 11.04% and a net margin of 2.99%.The business had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. During the same period in the prior year, the company posted ($0.90) EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, research analysts anticipate that Phillips 66 will post 15.47 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, May 18th. Phillips 66’s dividend payout ratio (DPR) is presently 50.05%.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Brian Mandell sold 42,800 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $169.53, for a total transaction of $7,255,884.00. Following the sale, the executive vice president directly owned 61,595 shares of the company’s stock, valued at $10,442,200.35. The trade was a 41.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lisa Ann Davis sold 3,800 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $174.37, for a total value of $662,606.00. Following the sale, the director owned 8,701 shares in the company, valued at approximately $1,517,193.37. This trade represents a 30.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 95,923 shares of company stock worth $16,399,619. 0.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Phillips 66

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake 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 acquiring an additional 205,480 shares during the period. State Street Corp grew its holdings in Phillips 66 by 0.8% during the 4th 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 position in Phillips 66 by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company’s stock worth $1,338,596,000 after purchasing an additional 45,340 shares during the period. Norges Bank purchased a new stake in Phillips 66 in the 4th quarter worth about $640,206,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in 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 worth $509,006,000 after purchasing an additional 89,621 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Key Phillips 66 News

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.