Phillips 66 (NYSE:PSX) Issues Earnings Results

Phillips 66 (NYSE:PSX) issued its quarterly earnings data on Wednesday. The oil and gas company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03, Zacks reports. Phillips 66 had a net margin of 2.99% and a return on equity of 11.04%. The firm had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. During the same quarter in the previous year, the business posted ($0.90) EPS. The firm’s revenue was up 6.9% compared to the same quarter last year.

Here are the key takeaways from Phillips 66’s conference call:

• Company highlighted strong commercial agility and operational reliability during unprecedented commodity volatility, achieving a market capture of 138% by leveraging global trading, Jones Act waivers, and time?chartered vessels.
• Reported Q1 earnings were $207M ($200M adjusted) and were materially impacted by $839M of mark?to?market losses
• Management expects refining margins to remain constructive through the remainder of the year with worldwide crude utilization in the low?to?mid?90s, while CP Chem (80%+ U.S. Gulf Coast capacity) is well positioned to capture stronger petrochemical margins.
• Capital allocation remains disciplined — the company returned $778M (including $269M of buybacks), raised the dividend 7%, reiterated returning >50% of operating cash flow to shareholders, and reaffirmed a target to reduce total debt to $17B by year?end 2027.
• Growth projects and targets remain on track — management expects FID on the Western Gateway pipeline mid?to?late summer (target in?service 2029) and reiterated a $4.5B midstream EBITDA goal for 2027, implying additional volume and cash?flow upside.

Phillips 66 Stock Performance

PSX traded down $3.82 on Friday, hitting $175.33. 374,994 shares of the company’s stock were exchanged, compared to its average volume of 3,009,044. The firm has a market cap of $70.26 billion, a PE ratio of 17.17, a P/E/G ratio of 0.29 and a beta of 0.76. Phillips 66 has a twelve month low of $103.38 and a twelve month high of $190.61. The stock has a fifty day moving average of $167.69 and a two-hundred day moving average of $149.00. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be paid a dividend of $1.27 per share. The ex-dividend date is Monday, May 18th. This represents a $5.08 annualized dividend and a yield of 2.9%. Phillips 66’s dividend payout ratio is 50.05%.

Analysts Set New Price Targets

PSX has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Phillips 66 from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 11th. Wolfe Research boosted their price objective on shares of Phillips 66 from $187.00 to $193.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Mizuho boosted their price objective on shares of Phillips 66 from $152.00 to $170.00 and gave the stock a “neutral” rating in a report on Tuesday, March 17th. Citigroup boosted their price objective on shares of Phillips 66 from $159.00 to $183.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Finally, UBS Group upped their target price on shares of Phillips 66 from $172.00 to $212.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $184.50.

Insider Activity

In related news, EVP Don Baldridge sold 7,500 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the sale, the executive vice president owned 38,488 shares in the company, valued at $6,158,080. This represents a 16.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin J. Mitchell sold 15,629 shares of the stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $190.07, for a total transaction of $2,970,604.03. Following the sale, the chief financial officer owned 97,376 shares in the company, valued at approximately $18,508,256.32. This trade represents a 13.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 95,923 shares of company stock valued at $16,399,619 over the last quarter. Corporate insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

Several institutional investors and hedge funds have recently bought and sold shares of PSX. SWAN Capital LLC raised its stake in Phillips 66 by 1,055.6% during the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 190 shares during the period. Sfam LLC acquired a new stake in Phillips 66 during the fourth quarter worth about $34,000. Wealth Watch Advisors INC acquired a new stake in Phillips 66 during the third quarter worth about $36,000. WFA of San Diego LLC acquired a new stake in Phillips 66 during the second quarter worth about $52,000. Finally, Quattro Advisors LLC acquired a new stake in Phillips 66 during the fourth quarter worth about $65,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

More Phillips 66 News

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

• Positive Sentiment: Q1 earnings beat — PSX reported an unexpected quarterly profit driven by higher realized refining margins and improved throughput; the market focused on underlying operations rather than derivative losses. Phillips 66 Q1 2026 Earnings Call Summary
• Positive Sentiment: Analyst upgrade / momentum — Tudor Pickering upgraded PSX from Hold to Strong Buy, and Zacks added PSX to its Rank #1 (Strong Buy) growth stocks list, boosting sentiment and buy-side interest. Zacks.com TickerReport
• Positive Sentiment: Oil price tailwind — Brent crude spiked toward $117 on Iran-related geopolitical risk, supporting refining margins and near-term profitability for refiners like PSX. Brent Crude Spikes to $117
• Neutral Sentiment: Operations update — Management said refineries are running in the low- to mid-90% range of combined capacity, which supports volumes but is largely in line with expectations. Reuters: Phillips 66 running refineries
• Neutral Sentiment: Peer context — Valero’s blowout Q1 results on surging crack spreads underscore sector strength; peers’ results can buoy PSX multiple but also set higher expectations. Valero Energy’s Earnings
• Negative Sentiment: Derivative losses and near-term costs — The quarter included large mark-to-market losses on derivatives (management noted sizable pre-tax impacts) and guidance of $120M–$150M in Q2 turnaround expense; these weigh on reported profits and cash. Seeking Alpha: debt target & turnaround expense

About Phillips 66

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.

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