Phillips 66 (PSX), headquartered in Houston, Texas, operates as an energy manufacturing and logistics company. With a market cap of $68.9 billion, the company’s operations include oil refining, marketing, and transportation along with chemical manufacturing and power generation.
Shares of leading integrated downstream energy provider have outperformed the broader market over the past year. PSX has gained 37.5% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 27.3%. In 2026, PSX stock is up 32.9%, surpassing the SPX’s 9.6% rise on a YTD basis.
Narrowing the focus, PSX’s underperformance is apparent compared to the VanEck Oil Refiners ETF (CRAK). The exchange-traded fund has gained about 64% over the past year. However, PSX’s returns on a YTD basis outshine the ETF’s 30.7% gains over the same time frame.
On Apr. 29, PSX shares closed up more than 5% after reporting its Q1 results. Its adjusted EPS of $0.49 exceeded Wall Street expectations for a loss of $0.55 per share. The company’s revenue was $33 billion, beating Wall Street forecasts of $29.5 billion.
For the current fiscal year, ending in December, analysts expect PSX’s EPS to grow 170% to $17.39 on a diluted basis. The company’s earnings surprise history is impressive. It beat the consensus estimate in each of the last four quarters.
Among the 20 analysts covering PSX stock, the consensus is a “Moderate Buy.” That’s based on nine “Strong Buy” ratings, two “Moderate Buys,” eight “Holds,” and one “Strong Sell.”
This configuration is more bullish than a month ago, with eight analysts suggesting a “Strong Buy,” and one analyst advising a “Moderate Buy.”
On May 4, TD Cowen analyst Jason Gabelman maintained a “Buy” rating on PSX and set a price target of $213, implying a potential upside of 24.2% from current levels.
The mean price target of $186.16 represents an 8.5% premium to PSX’s current price levels. The Street-high price target of $215 suggests an upside potential of 25.4%.
On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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