
Phillips 66 (PSX) Stock Forecast & Price Target
Phillips 66 (PSX) Analyst Ratings
Bulls say
Phillips 66 is expected to see structural improvements at four refineries, raising capacity by 45kbd. While they may not see any additional heavy crude runs, the company is already participating in Venezuela crude and has the capacity to run it. The turnaround schedule for 2026 is expected to be light, with a potential tailwind. Despite management's bearish outlook on the chemicals segment, recoveries in the full chain margin and expectations for rationalization in Asia and Europe suggest potential for increased profitability. Research and development (RD) and marketing are also expected to see stronger performance, leading to an increase in EBITDA estimates.
Bears say
Phillips 66 is facing headwinds in its midstream segment due to weaker demand and lower utilization, resulting in a reduction of 1Q26 EPS estimates. Despite a strong 4Q EPS result, the company's 2026 capex guide and expectations for refinery outages could lead to challenges in meeting market demand in the short term. However, management projects a more positive outlook for 2026, citing a tight supply and demand balance and a return to global markets for the company's products.
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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