Phillips 66 (NYSE:PSX) Price Target Raised to $274.00

Posted by Brenda Bartman on Oct 3rd, 2026

Phillips 66 (NYSE:PSX – Free Report) had its price target hoisted by The Goldman Sachs Group from $245.00 to $274.00 in a research report sent to investors on Wednesday, MarketBeat.com reports. The brokerage currently has a neutral rating on the oil and gas company’s stock.

PSX has been the topic of a number of other research reports. BMO Capital Markets lifted their target price on shares of Phillips 66 from $260.00 to $310.00 and gave the company an “outperform” rating in a research note on Thursday, September 17th. Piper Sandler increased their price target on Phillips 66 from $209.00 to $264.00 and gave the stock a “neutral” rating in a research note on Thursday, September 3rd. Morgan Stanley raised their price target on Phillips 66 from $196.00 to $284.00 and gave the company an “overweight” rating in a report on Monday, September 14th. Zacks Research upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 7th. Finally, Wall Street Zen upgraded Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 26th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $246.50.

Check Out Our Latest Stock Analysis on PSX

Phillips 66 Price Performance

NYSE PSX opened at $264.44 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. Phillips 66 has a 12 month low of $126.74 and a 12 month high of $277.12. The stock has a market cap of $105.52 billion, a price-to-earnings ratio of 15.07 and a beta of 0.71. The company’s 50 day moving average is $241.58 and its two-hundred day moving average is $199.80.

Phillips 66 (NYSE:PSX – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share for the quarter, topping analysts’ consensus estimates of $7.50 by $1.91. The business 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 period in the prior year, the business posted $2.38 earnings per share. As a group, research analysts anticipate that Phillips 66 will post 28.12 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, August 18th. Phillips 66’s dividend payout ratio (DPR) is presently 28.95%.

Phillips 66 declared that its board has authorized a stock buyback plan on Friday, July 31st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the oil and gas company to purchase up to 11.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity at Phillips 66

In related news, EVP Richard G. Harbison sold 52,100 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $223.76, for a total value of $11,657,896.00. Following the sale, the executive vice president directly owned 39,094 shares in the company, valued at approximately $8,747,673.44. The trade was a 57.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin J. Mitchell sold 11,021 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $190.03, for a total value of $2,094,320.63. Following the transaction, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $18,504,361.28. The trade was a 10.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 123,907 shares of company stock valued at $27,973,214. 0.40% of the stock is currently owned by insiders.

Institutional Trading of Phillips 66

A number of large investors have recently added to or reduced their stakes in the company. QRG Capital Management Inc. grew its stake in shares of Phillips 66 by 22.4% in the 2nd quarter. QRG Capital Management Inc. now owns 55,595 shares of the oil and gas company’s stock worth $9,398,000 after buying an additional 10,186 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of Phillips 66 by 1.4% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 16,403 shares of the oil and gas company’s stock valued at $2,773,000 after buying an additional 232 shares in the last quarter. State Street Corp raised its position in shares of Phillips 66 by 1.1% during the 2nd quarter. State Street Corp now owns 26,044,694 shares of the oil and gas company’s stock valued at $4,402,856,000 after buying an additional 271,841 shares in the last quarter. Security National Bank of Sioux City Iowa IA bought a new position in shares of Phillips 66 in the 2nd quarter valued at about $42,000. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Phillips 66 by 5.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 39,247 shares of the oil and gas company’s stock valued at $6,635,000 after acquiring an additional 2,065 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Company Profile

(Get Free Report)

Phillips 66 is an energy manufacturing and logistics company engaged in the processing, transportation, storage and marketing of energy products. Its operations include refining crude oil into gasoline, diesel, jet fuel, lubricants and other refined products, as well as distributing and marketing fuels under the Phillips 66, 76 and JET brands.

The company also operates midstream infrastructure, including pipelines, terminals, processing facilities and storage assets that support the movement of crude oil, natural gas liquids and refined products.