Scotiabank Forecasts Strong Price Appreciation for Phillips 66 (NYSE:PSX) Stock

Phillips 66 (NYSE:PSX) had its price objective increased by Scotiabank from $140.00 to $151.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the oil and gas company’s stock. Scotiabank’s target price would indicate a potential downside of 5.39% from the company’s previous close.

Several other research firms have also commented on PSX. UBS Group upped their price target on shares of Phillips 66 from $172.00 to $212.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Wolfe Research upped their price target on shares of Phillips 66 from $187.00 to $193.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Barclays upped their price target on shares of Phillips 66 from $158.00 to $177.00 and gave the company an “equal weight” rating in a report on Wednesday, April 8th. Wall Street Zen lowered shares of Phillips 66 from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 11th. Finally, Citigroup upped their price target on shares of Phillips 66 from $159.00 to $183.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Eleven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $181.33.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $159.61 on Wednesday. The business’s 50 day moving average price is $166.61 and its 200 day moving average price is $147.68. The firm has a market cap of $63.96 billion, a P/E ratio of 14.75, a P/E/G ratio of 0.30 and a beta of 0.76. Phillips 66 has a 52 week low of $101.54 and a 52 week high of $190.61. The company has a quick ratio of 0.91, a current ratio of 1.30 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.32. The firm had revenue of $32.16 billion for the quarter, compared to analyst estimates of $33.81 billion. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.During the same quarter in the prior year, the firm earned ($0.15) earnings per share. On average, sell-side analysts expect that Phillips 66 will post 14.12 earnings per share for the current year.

Insider Buying and Selling at Phillips 66

In other news, Director Lisa Ann Davis sold 3,800 shares of the stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $174.37, for a total transaction of $662,606.00. Following the sale, the director directly owned 8,701 shares of the company’s stock, valued at $1,517,193.37. This represents a 30.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Don Baldridge sold 7,500 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the sale, the executive vice president directly owned 38,488 shares in the company, valued at approximately $6,158,080. The trade was a 16.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 95,923 shares of company stock worth $16,399,619. 0.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Phillips 66

Several hedge funds have recently modified their holdings of the company. Brighton Jones LLC lifted its position in shares of Phillips 66 by 238.5% during the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after buying an additional 7,214 shares in the last quarter. Woodline Partners LP lifted its position in shares of Phillips 66 by 40.7% during the 1st quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock valued at $4,308,000 after buying an additional 10,089 shares in the last quarter. Sei Investments Co. lifted its position in shares of Phillips 66 by 28.3% during the 2nd quarter. Sei Investments Co. now owns 157,455 shares of the oil and gas company’s stock valued at $18,788,000 after buying an additional 34,698 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Phillips 66 by 9.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 346,679 shares of the oil and gas company’s stock valued at $41,359,000 after buying an additional 28,988 shares in the last quarter. Finally, Glenview Trust co lifted its position in shares of Phillips 66 by 2.6% during the 2nd quarter. Glenview Trust co now owns 8,949 shares of the oil and gas company’s stock valued at $1,068,000 after buying an additional 229 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Phillips 66

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

• Positive Sentiment: Progress on the Western Gateway refined‑products pipeline: Phillips 66 and Kinder Morgan secured sufficient long‑term shipper commitments in a second open season to advance the project toward final agreements and board approvals — a potential multi‑year source of stable midstream fee revenue and improved connectivity between Midwest/Gulf refineries and Western markets. Phillips 66 (PSX) and Kinder Morgan Advance Western Gateway Pipeline Project
• Positive Sentiment: Pipeline reconfiguration could be a structural advantage: Plans include reversing existing SFPP and Gold Pipeline segments to redirect supply to Phoenix, CA and Las Vegas, which may lower operating costs and increase refined‑product margins for Phillips 66 if built to mid‑2029 in‑service target. Western Gateway Pipeline Reconfiguration Could Be A Game Changer For Phillips 66 (PSX)
• Positive Sentiment: Refining margin tailwind: Third‑party commentary highlights that rising crack spreads support Phillips 66’s refining profitability, which would boost near‑to‑medium‑term earnings if product demand and spreads persist. Phillips 66 (PSX) Is Expected to Benefit from Rising Crack Spreads
• Neutral Sentiment: Corporate social/renewables activity: Phillips 66 is partnering with Points of Light on a volunteer campaign and is named among renewable partners in a UCO recycling announcement — positive for PR and ESG positioning but limited direct near‑term financial impact. Points of Light Celebrates Global Volunteer Month and Launches Mobilizing Millions Campaign
• Neutral Sentiment: Supply‑chain/renewable feedstock cooperation: Restaurant Technologies reports large UCO collection with conversion partners including Phillips 66, signaling growing renewable diesel feedstock flows — strategic long‑run benefit but modest earnings effect in the near term. Restaurant Technologies Recycled Almost 400 Million Lbs of UCO in 2025
• Negative Sentiment: Jones Act waiver shipping move draws scrutiny: Phillips 66 loaded U.S. crude onto a foreign‑flagged tanker after a Jones Act waiver — a move that may raise regulatory, PR and logistics questions and could pressure the company’s domestic shipping premium or invite political scrutiny. Phillips 66 sending US oil on foreign-flagged tanker after Jones Act waiver
• Negative Sentiment: Earnings expectations and analyst posture weigh on near term: Several previews (Zacks/Yahoo) flag that Phillips 66 lacks the setup for an earnings beat in the upcoming report, and Scotiabank’s upgrade of its target to $151 still carries only a sector‑perform rating (implying limited upside vs. current levels). These items increase the risk of downside if results or guidance disappoint. Phillips 66 (PSX) May Report Negative Earnings: Know the Trend Ahead of Next Week’s Release

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.