Phillips 66 (PSX) is a leading energy manufacturing and logistics company based in Houston, Texas. With a market cap of $51.6 billion, it operates across four key segments: Refining, Midstream, Chemicals, and Marketing & Specialties. The company owns and operates a vast network of refineries, pipelines, and petrochemical facilities, supplying fuels, lubricants, and specialty products to global markets.
PSX shares have struggled over the past year, falling 13.5% and trailing the S&P 500 Index’s ($SPX) 23.5% gain. However, in 2025, the stock has rebounded, rising 10.2% versus the SPX’s 4% increase.
Within the energy sector, PSX has outperformed the Vaneck Oil Refiners ETF (CRAK), which declined 18.8% over the past year and posted a 4.3% year-to-date gain.
Phillips 66 shares fell over 3% on Feb. 12 as energy stocks declined, driven by a more than 2% drop in WTI crude prices.
Moreover, on Jan. 31, PSX shares dropped 2.5% after announcing its fourth-quarter and fiscal 2024 earnings. Its adjusted EPS of 15 cents and revenue of $34 billion surpassed the market’s expectations. For the year, the company posted a profit of $2.12 billion, or $4.99 per share, on revenue of $145.5 billion.
For the current fiscal year, ending in December, analysts expect Phillips 66 to report an EPS to rise 10.6% year over year to $6.80. The company’s earnings surprise history is mixed. It surpassed the consensus estimates in three of the past four quarters while missing the estimates on another occasion.
Among the 19 analysts covering the PSX stock, the consensus rating is a “Moderate Buy.” That’s based on 11 “Strong Buy” ratings, one “Moderate Buy,” and seven “Holds.”
This configuration has been reasonably consistent over the past months.
On Jan. 3, Wolfe Research upgraded Phillips 66 from “Peer Perform” to “Outperform.”
PSX’s mean price target of $141.10 represents a premium of 12.4% from current price levels. The Street-high target of $167 indicates a potential upside of 33%.
