Phillips 66 NYSE:PSX Price, Chart, News & Insight

Phillips 66 (PSX) Stock Gains After Raymond James Raises Price Target to $235

Phillips 66 (NYSE: PSX) shares climbed about 3.1% after Raymond James raised its price target on the energy company to $235 from $218 while maintaining its Outperform rating.

The higher price target reflects continued confidence in Phillips 66's earnings outlook as the company benefits from resilient refining fundamentals, a diversified midstream and chemicals portfolio, and disciplined capital allocation. Investors also remain optimistic about the company's strong free cash flow generation and commitment to returning capital through dividends and share repurchases.

Recent strength in crude oil prices, driven by heightened geopolitical tensions in the Middle East, has also increased investor interest in energy stocks. While higher oil prices can create market volatility, Phillips 66's performance is driven primarily by refining margins, operational efficiency, and demand for refined petroleum products.

Key factors supporting the stock include:

* Raymond James raised its price target to $235 from $218.
* The firm maintained its Outperform rating.
* Investors remain optimistic about Phillips 66's diversified business model, strong cash generation, and shareholder return strategy.
* Supportive refining fundamentals and continued operational improvements underpin the company's long-term outlook.

The higher price target reinforced positive investor sentiment, helping Phillips 66 shares advance during the trading session.

💬 🔗

WS Investor 07-13-26

Phillips 66 Posts Solid Q1 Results, Raises Dividend and Expands Midstream Capacity

Phillips 66 (NYSE: PSX) kicked off 2026 on a steady footing, reporting first-quarter earnings of $207 million ($0.51 per share) on a GAAP basis, with adjusted earnings of $200 million ($0.49 per share) — beating analyst consensus estimates that had pointed to a loss of $0.55 per share heading into the print.
The integrated downstream energy company, which operates across refining, midstream, chemicals, and renewables, highlighted operational resilience and strategic progress as key themes for the quarter.

Refining Runs Strong
Phillips 66's refining segment operated at 95% capacity utilization with an 87% clean product yield — reflecting solid execution despite a volatile crude price environment. The company has been navigating softer refining margins industry-wide, but its diversified business model helped cushion the impact.

Midstream Capacity Expanded
A notable strategic milestone this quarter was the formal recognition of expanded infrastructure capacity. The company increased Sweeny NGL fractionation capacity by 23% and Freeport LPG export dock capacity by 15%, reflecting debottlenecking work completed in 2025. These additions reinforce Phillips 66's position as a leading midstream operator in the U.S. Gulf Coast.
The company also advanced the Western Gateway Pipeline following a successful second open season that secured long-term shipper commitments, and broke ground continues on the Iron Mesa gas plant in New Mexico — a 300 MMCFD facility on track for a Q1 2027 startup.

Dividend Raised; Balance Sheet Solid
In a shareholder-friendly move, Phillips 66 increased its annualized quarterly dividend by 7%, continuing its track record of consistent dividend growth. The company has delivered a 15% compound annual dividend growth rate since 2012. The company ended Q1 with approximately $6.0 billion in liquidity, providing a strong buffer against market uncertainty. Stocktitan
CEO Mark Lashier struck a confident tone: "We are confident in our ability to navigate market volatility due to our integrated business and the strength of our balance sheet."

Global Growth Moves
Beyond domestic operations, Phillips 66 completed the acquisition of the Lindsey Oil Refinery and logistics assets in the U.K. in April, with plans to integrate select assets to enhance its British energy business. Internationally, the company is progressing two major polymer projects — the Golden Triangle Polymers Project in Orange, Texas, and the Ras Laffan Polymers Project in Qatar — with full operations targeted for 2027.

Stock Snapshot
PSX shares surged roughly 7% on earnings day, trading at $176. The move marks a meaningful rebound from recent weakness — the stock had declined about 12.84% over the prior month. PSX's 52-week range spans from $95.70 to $190.61.

💬 🔗

WS Investor 04-29-26

Phillips 66 and Kinder Morgan announced progress on the Western Gateway Pipeline project after securing sufficient long-term customer commitments during a successful open season.

The proposed pipeline system will transport refined petroleum products from Midwest and Gulf Coast refineries to markets in Arizona and California, with additional connectivity to Nevada. The project combines new pipeline construction from Texas to Arizona with the reversal and integration of existing pipeline assets to enable westward product flows.

The companies stated that strong market interest highlights the need for improved fuel supply flexibility and reliability in the U.S. West Coast region. The pipeline is targeted to begin operations by mid-2029, pending final agreements, regulatory approvals, and investment decisions.

The project is expected to enhance regional logistics efficiency by leveraging existing infrastructure while expanding capacity to meet long-term demand.
Business Wire

💬 🔗

Global Finance News 04-20-26

Phillips 66 and Kinder Morgan, Inc announced the launch of a second open season for the proposed Western Gateway Pipeline, targeting remaining capacity and expanded origin and destination options. The new phase adds access to the Los Angeles market through the planned reversal of an existing Kinder Morgan SFPP pipeline segment and introduces additional supply points to increase flexibility. The open season begins January 16, 2026, and closes March 31, 2026, as the partners advance plans to connect Midwest and other refinery supply to Phoenix, California, and surrounding markets.

Source: Phillips 66 and Kinder Morgan, Business Wire

💬 🔗

Global Finance News 01-18-26

Phillips 66 and Kinder Morgan advance Western Gateway pipeline toward Los Angeles markets

Phillips 66 and Kinder Morgan closed the initial open season for the proposed Western Gateway refined products pipeline after securing strong shipper interest and commitments. The companies will launch a subsequent open season in January 2026 for remaining capacity, adding new destinations west of Colton, California, to provide access to Los Angeles markets through a joint tariff arrangement.

Source: Business Wire, December 22, 2025

💬 🔗

Global Finance News 12-22-25

Phillips 66 Delivers Strong Q3 Results, Gains Full Ownership of WRB Refineries

Phillips 66 (NYSE: PSX) reported third-quarter 2025 earnings of $133 million, or $0.32 per share, and adjusted earnings of $1.0 billion, or $2.52 per share. Results included a $241 million pre-tax charge for accelerated depreciation at the Los Angeles Refinery. The company achieved 99% refining utilization with an 86% clean product yield and record midstream throughput, generating $1.2 billion in operating cash flow ($1.9 billion excluding working capital). Phillips 66 completed the acquisition of the remaining 50% stake in WRB Refining LP, securing full ownership of the Wood River and Borger refineries. CEO Mark Lashier highlighted record performance across refining and midstream operations and reaffirmed the company’s focus on shareholder returns and strategic growth initiatives, including the Western Gateway Pipeline and global petrochemical projects.

💬 🔗

The Investor 10-29-25

Phillips 66 has strengthened its liquidity position by amending its receivables financing structure. On September 29, 2025, its subsidiary Phillips 66 Company executed the Third Amendment to its Receivables Purchase and Financing Agreement (RPFA), originally established in September 2024. The changes boost the maximum facility size from $1 billion to $1.25 billion and extend the program’s maturity date by one year, to September 28, 2026.

💬 🔗

WS Investor 09-30-25

Cenovus Energy announced it will sell its 50% stake in WRB Refining LP to joint venture partner Phillips 66 for $1.4 billion USD (about $1.9 billion CAD). The sale includes Cenovus’s interest in the Wood River Refinery in Illinois and the Borger Refinery in Texas, which together process nearly 495,000 barrels of crude per day.

Following the deal, Cenovus’s downstream business will center on refineries it fully controls, with a total capacity of about 473,000 barrels per day, 55% of which is heavy oil. CEO Jon McKenzie said the move sharpens Cenovus’s focus on core assets while generating funds to reduce debt and boost share buybacks.

The transaction is expected to close by the end of the third quarter of 2025, subject to regulatory and customary conditions.

💬 🔗

Global Finance News 09-09-25

Phillips 66 and NextEra Launch Commercial Operations at Rodeo Solar Facility

On May 8, 2025, Phillips 66 and NextEra Energy Resources announced the start of commercial operations at the new 30.2-megawatt solar facility at the Rodeo Renewable Energy Complex in California. The project marks one of the largest dedicated on-site solar facilities in the United States and aims to significantly reduce greenhouse gas emissions.

The facility is expected to generate 60,000 megawatt-hours annually, reducing the site's reliance on grid power by 50% and avoiding approximately 33,000 metric tons of CO₂ emissions each year—equivalent to powering over 23,000 electric vehicles.

Built on 88 acres of Phillips 66-owned land, the solar plant supports renewable fuel production by powering operations that process fats, greases, and vegetable oils into renewable diesel and sustainable aviation fuel. CEO Mark Lashier emphasized that this project reflects the company’s broader strategy to reduce emissions, lower utility costs, and advance a low-carbon energy infrastructure.

💬 🔗

WS Investor 05-08-25

Phillips 66 reported first-quarter earnings of $487 million, or $1.18 per share.

On an adjusted basis, the company posted a loss of $368 million, or $0.90 per share, primarily reflecting $246 million of pre-tax accelerated depreciation tied to the Los Angeles Refinery. During the quarter, Phillips 66 returned $716 million to shareholders through dividends and share repurchases.

The company also received $2.0 billion in cash proceeds from the previously announced sales of its non-operated equity interests in Coop Mineraloel AG and Gulf Coast Express Pipeline LLC. Additionally, Phillips 66 sanctioned the construction of a new gas processing plant in the Permian Basin and recently closed on its acquisition of EPIC Y-Grade GP, LLC and EPIC Y-Grade LP.

💬 🔗

The Investor 04-25-25

NYSE:PSXFollow

NYSE:PSX