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PSX
Volume: 790

Phillips 66 (PSX) Stock Forecast & Price Target

Phillips 66 (PSX) Analyst Ratings

Based on 16 analyst ratings
Hold
Strong Buy 13%
Buy 38%
Hold 44%
Sell 0%
Strong Sell 6%

Bulls say

Phillips 66 is attractive because its WRB acquisition has improved daily and regional optimization, delivered $50MM of synergies with another $75MM in sight, and supported 150kbd of crude throughput growth from 2025 to 2026 even after shutting the LA refinery. Its refining system is operating more efficiently, with utilizations up to ~95% in 2024-25, controllable costs below $6/bbl in 2025, and an adjusted EBITDA/bbl near $7.90 over 2021-25, while midstream and chemicals add durable earnings diversification through 70,000 miles of pipelines and CPChem’s 40B lbs/yr global capacity. The balance sheet also strengthens the outlook, as debt fell from about $27B to ~$21B with a $17B gross debt target now expected by YE26, creating room for a >50% CFO payout policy and materially larger share buybacks.

Bears say

Phillips 66 is viewed negatively because its earnings are exposed to highly cyclical refining markets, volatile crude-to-product spreads, and regulatory risks that can quickly erode profitability. The outlook also reflects expected weakness across key segments, including a $130MM decline in CPChem earnings, a $60MM headwind in RD EBITDA, a $160MM marketing headwind, and a $1B working capital drag, only partly offset by $1.9B in buybacks. Despite solid operational progress, balance sheet leverage remains the main concern because it constrains capital returns and has contributed to PSX underperforming the refining group on a 12- and 24-month basis.

Phillips 66 (PSX) has been analyzed by 16 analysts, with a consensus rating of Hold. 13% of analysts recommend a Strong Buy, 38% recommend Buy, 44% suggest Holding, 0% advise Selling, and 6% predict a Strong Sell.

This aggregate rating is based on analysts' research of Phillips 66 and is not a guaranteed prediction by Public.com or investment advice.

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FAQs About Phillips 66 (PSX) Forecast

Analysts have given Phillips 66 (PSX) a Hold based on their latest research and market trends.

According to 16 analysts, Phillips 66 (PSX) has a Hold consensus rating as of Oct 9, 2026. This rating is provided by third-party analysts and is not investment advice from Public.com.

Wall Street analysts have set a price target of $246.81, reflecting a 0.00% increase from the current stock price.

Financial analysts have set a price target of $246.81, indicating a 0.00% increase from the current stock price, but ratings and forecasts are frequently updated based on market conditions, earnings reports, and industry trends. This prediction is provided by third-party analysts and is not investment advice from Public.com.

Phillips 66 (PSX)

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