Phillips 66 (NYSE:PSX) Sets New 1-Year High – Time to Buy?

Posted by Brian Himes on Oct 22nd, 2026

Phillips 66 (NYSE:PSX – Get Free Report) reached a new 52-week high during mid-day trading on Tuesday. The stock traded as high as $299.39 and last traded at $290.6160, with a volume of 1,885,450 shares traded. The stock had previously closed at $293.17.

Phillips 66 News Summary

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

Positive Sentiment: Phillips 66’s recent rally reflects investor optimism that elevated refining margins and an oil-market risk premium can support earnings. One analyst argues Wall Street’s forecast for an approximately 7% earnings decline next year may be too pessimistic, creating upside if PSX delivers continued growth. 3 Stocks With Yields Big Enough to Make Election Volatility Easier to Stomach
Positive Sentiment: Phillips 66 remains attractive to income-oriented investors after raising its dividend for more than a decade. The company’s dividend-growth record may provide support if market volatility increases. These 3 Companies Raised Their Dividends
Positive Sentiment: Phillips 66 saw approximately $167.4 million of net exchange-traded-fund buying on October 16, suggesting institutional or passive-fund demand has recently supported the shares. Phillips 66 Sees $167.4 Million in Net ETF Buying
Neutral Sentiment: Wall Street expects earnings growth in Phillips 66’s upcoming report, but the company reportedly lacks the combination of positive earnings revisions and estimate-beat indicators that typically signal a likely upside surprise. The report is expected next week, making guidance and refining-margin commentary key catalysts. Phillips 66 Reports Next Week
Negative Sentiment: Phillips 66 locked out union workers at its New Jersey refinery after a contract extension expired. A prolonged labor dispute could disrupt operations, increase costs, or weigh on production and margins. Phillips 66 Locks Out Union Workers
Negative Sentiment: The analyst consensus price target is $269.06, below recent trading levels, indicating that analysts may see limited near-term upside after the stock’s strong run. Phillips 66 Consensus Price Target

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PSX shares. Wall Street Zen raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 26th. Wells Fargo & Company raised their target price on Phillips 66 from $335.00 to $345.00 and gave the company an “overweight” rating in a report on Wednesday, October 14th. Citigroup raised their target price on Phillips 66 from $217.00 to $297.00 and gave the company a “neutral” rating in a report on Tuesday, October 13th. The Goldman Sachs Group upped their price target on shares of Phillips 66 from $245.00 to $274.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 30th. Finally, Weiss Ratings raised shares of Phillips 66 from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $269.06.

View Our Latest Research Report on PSX

Phillips 66 Stock Performance

The stock’s 50-day moving average price is $260.86 and its 200-day moving average price is $209.58. The company has a market capitalization of $115.86 billion, a price-to-earnings ratio of 16.54 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.32.

Phillips 66 (NYSE:PSX – Get Free Report) last released 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. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%. The business had revenue of $51 billion for the quarter, compared to analysts’ expectations of $43.60 billion. During the same quarter in the prior year, the firm posted $2.38 EPS. As a group, equities research analysts expect that Phillips 66 will post 31.44 earnings per share for the current year.

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 dividend of $1.33 per share. The ex-dividend date is Tuesday, November 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.27. This represents a $5.32 dividend on an annualized basis and a yield of 1.8%. Phillips 66’s dividend payout ratio (DPR) is presently 30.31%.

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

Insider Buying and Selling at Phillips 66

In other news, EVP Brian Mandell sold 23,400 shares of Phillips 66 stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $265.06, for a total transaction of $6,202,404.00. Following the completion of the transaction, the executive vice president owned 61,595 shares of the company’s stock, valued at $16,326,370.70. The trade was a 27.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 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. This represents a 57.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 108,800 shares of company stock worth $25,016,566 in the last three months. 0.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Phillips 66

A number of large investors have recently added to or reduced their stakes in PSX. BlackRock Inc. purchased a new stake in shares of Phillips 66 in the second quarter valued at about $5,766,779,000. Bank of New York Mellon Corp purchased a new position in shares of Phillips 66 during the 2nd quarter worth approximately $1,093,206,000. Bank of America Corp DE purchased a new position in shares of Phillips 66 during the 2nd quarter worth approximately $469,970,000. Legal & General Group Plc acquired a new position in shares of Phillips 66 during the 2nd quarter worth approximately $303,648,000. Finally, Deutsche Bank AG acquired a new position in shares of Phillips 66 during the 2nd quarter worth approximately $271,128,000. 76.93% of the stock is owned by institutional investors and hedge funds.

About Phillips 66

(Get Free Report)

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.