
Phillips 66 (PSX) Stock Forecast & Price Target
Phillips 66 (PSX) Analyst Ratings
Bulls say
Phillips 66 demonstrates a robust refining performance, with a 99% utilization rate in the fourth quarter and an impressive clean product yield of 88%, bolstered by recent acquisitions aimed at optimizing efficiency. The company anticipates a rise in equity volumes to approximately 40% over the next 18 months, which, combined with long-term contracted third-party volumes, enhances supply stability. Additionally, the successful execution of recent projects and structural improvements at several refineries indicate a potential increase in EBITDA from $4.0 billion to an estimated $4.5 billion by 2027, contributing to a positive outlook for Phillips 66's financial growth trajectory.
Bears say
Phillips 66's outlook has been negatively affected by reduced earnings per share (EPS) and EBITDA estimates for the first quarter of 2026, revised down to $1.75 and $759 million, respectively, driven by lower expectations in refining and marketing margins. Refining EBIT has also been adjusted downward to $1.439 billion due to weaker indicators and reduced capture rates, compounded by unfavorable pricing impacts from the Gulf Coast. Additionally, the midstream segment has faced a decline in EBITDA estimates to $865 million, hindered by downtime from winter storm impacts and accelerated depreciation related to operations in the Permian Basin.
This aggregate rating is based on analysts' research of Phillips 66 and is not a guaranteed prediction by Public.com or investment advice.
Phillips 66 (PSX) Analyst Forecast & Price Prediction
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