Phillips 66 (NYSE:PSX) Hits New 12-Month High – What’s Next?

Posted by George Bondi on Aug 31st, 2026

Phillips 66 (NYSE:PSX – Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $248.98 and last traded at $248.4020, with a volume of 7875 shares changing hands. The stock had previously closed at $244.01.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PSX. Barclays upped their price objective on Phillips 66 from $183.00 to $216.00 and gave the company an “equal weight” rating in a report on Thursday, August 6th. Wells Fargo & Company upped their price target on shares of Phillips 66 from $201.00 to $239.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Morgan Stanley raised their price objective on shares of Phillips 66 from $180.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. TD Cowen lifted their price objective on shares of Phillips 66 from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Zacks Research downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.56.

Get Our Latest Analysis on Phillips 66

Phillips 66 Stock Up 1.8%

The firm has a 50-day moving average of $206.11 and a two-hundred day moving average of $182.76. The stock has a market capitalization of $99.12 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 0.18 and a beta of 0.68. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.57.

Phillips 66 (NYSE:PSX – Get Free Report) last issued its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.50 by $1.91. The company had revenue of $52.04 billion during the quarter, compared to analyst estimates of $43.60 billion. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. During the same quarter last year, the business posted $2.38 EPS. As a group, sell-side analysts anticipate that Phillips 66 will post 23.86 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a $1.27 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a yield of 2.0%. Phillips 66’s dividend payout ratio (DPR) is presently 28.95%.

Phillips 66 declared that its board has initiated a share repurchase plan on Friday, July 31st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to repurchase up to 11.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other Phillips 66 news, EVP Richard G. Harbison sold 52,100 shares of the business’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 transaction, the executive vice president owned 39,094 shares of the company’s stock, valued at $8,747,673.44. The trade was a 57.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brian Mandell sold 30,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $215.00, for a total transaction of $6,450,000.00. Following the sale, the executive vice president owned 61,595 shares of the company’s stock, valued at $13,242,925. This trade represents a 32.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 100,507 shares of company stock worth $21,770,810. Insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Cornerstone Financial Management LLC grew its stake in shares of Phillips 66 by 134.9% in the second quarter. Cornerstone Financial Management LLC now owns 390 shares of the oil and gas company’s stock worth $66,000 after acquiring an additional 224 shares during the last quarter. HighTower Advisors LLC raised its stake in Phillips 66 by 0.3% during the 2nd quarter. HighTower Advisors LLC now owns 337,441 shares of the oil and gas company’s stock valued at $57,044,000 after purchasing an additional 932 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Phillips 66 in the 2nd quarter valued at $2,062,000. California State Teachers Retirement System grew its position in Phillips 66 by 22,604.5% in the 2nd quarter. California State Teachers Retirement System now owns 106,125,026 shares of the oil and gas company’s stock worth $17,940,436,000 after purchasing an additional 105,657,607 shares during the last quarter. Finally, Ameritas Advisory Services LLC raised its position in shares of Phillips 66 by 96.7% during the second quarter. Ameritas Advisory Services LLC now owns 3,800 shares of the oil and gas company’s stock valued at $642,000 after buying an additional 1,868 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Phillips 66 Company Profile

(Get Free Report)

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.