Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas. The Chemicals segment produces and markets ethylene and other olefin products; aromatics and styrenics products, such as benzene, cyclohexane, styrene, and polystyrene; and various specialty chemical products, including organosulfur chemicals, solvents, catalysts, and chemicals used in drilling and mining. The Refining segment refines crude oil and other feedstocks into petroleum products comprising gasolines, distillates, and aviation fuels at 13 refineries in the United States and Europe. The M&S segment purchases for resale and markets refined petroleum products consisting of gasolines, distillates, and aviation fuels primarily in the United States and Europe. It also manufactures and markets specialty products, such as base oils and lubricants. The company was founded in 1875 and is headquartered in Houston, Texas.
IPO Year:
Exchange: NYSE
Website: phillips66.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 5/27/2026 | $212.00 | Neutral → Outperform | Mizuho |
| 4/24/2026 | $174.00 | Equal-Weight → Overweight | Morgan Stanley |
| 10/30/2025 | $140.00 → $145.00 | Buy | TD Cowen |
| 10/17/2025 | $154.00 | Overweight | Wells Fargo |
| 9/3/2025 | $147.00 | Buy → Neutral | BofA Securities |
| 7/28/2025 | $130.00 → $134.00 | Buy | TD Cowen |
| 7/16/2025 | $130.00 | Buy → Neutral | Citigroup |
| 7/11/2025 | $133.00 | Sector Outperform → Sector Perform | Scotiabank |
| 6/18/2025 | $130.00 | Outperform | Evercore ISI |
| 5/13/2025 | $114.00 → $120.00 | Buy | TD Cowen |
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Phillips 66 today announced it is moving forward with the Zeus Gas Plant and a third Coastal Bend Fractionator, two projects that will advance its integrated wellhead-to-market strategy, thereby expanding gas processing capacity in the Permian and NGL fractionation capabilities on the Gulf Coast. Zeus will be a 300 MMcf/d gas processing facility in the Permian and will include the new Midland Express (MEX) Pipeline, an approximately 45-mile, 20-inch line integrating Phillips 66's Permian Basin gathering systems. Expected to come online with the Zeus processing plant, MEX will be able to move up to 230 MMcf/d of wellhead gas and provide future bi-directional flexibility between multiple pr
Phillips 66 (NYSE:PSX) today announced that the Board of Directors has appointed Greg Hayes to serve as lead independent director, effective immediately. "We are pleased to have Greg step into the role of Lead Independent Director," said Mark Lashier, Chairman and Chief Executive Officer of Phillips 66. "His distinguished leadership experience and deep knowledge of Phillips 66 position him well for this responsibility. I look forward to his leadership." As previously disclosed, Glenn Tilton and Marna Whittington did not stand for re-election at Phillips 66's Annual Meeting of Shareholders and accordingly retired from the Board at the end of their terms. Doug Terreson will succeed Whitti
Phillips 66 (NYSE:PSX) will host its 2026 Annual Meeting of Shareholders on Wednesday, May 13 at 8 a.m. CT in a virtual-only format via audio webcast. The meeting can be accessed at cesonlineservices.com/psx26_vm or the Phillips 66 Investors site at phillips66.com/investors under "Events and Presentations." Shareholders of record as of the close of business on March 20, 2026 can attend and vote during the virtual annual meeting by pre-registering at cesonlineservices.com/psx26_vm prior to May 12, 2026 at 8:00 a.m. CT using the 16-digit control number included on their proxy card, voting instruction form or annual meeting notice. Shareholders who do not intend to vote during the virtua
Reported first-quarter earnings of $207 million or $0.51 per share; adjusted earnings of $200 million or $0.49 per share Formally increased Sweeny NGL fractionation capacity and Freeport LPG export dock capacity by 23% and 15%, respectively, reflecting 2025 debottlenecking Refining operated at 95% capacity utilization with 87% clean product yield Increased the annualized quarterly dividend by 7% Ended the quarter with liquidity of approximately $6.0 billion Phillips 66 (NYSE:PSX) announced first-quarter earnings. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260429051050/en/ "We are confident in our ability
Phillips 66 Limited today announced it has completed the acquisition of the assets and associated infrastructure of Prax Lindsey Oil Refinery Limited (in Liquidation). The transaction comes after the company previously agreed to the deal in January, stating its intention to integrate key assets into its Humber Refinery operations. "Completing this transaction allows Phillips 66 to play an even stronger role in supporting the UK's fuel supply and the resilience of this critical energy infrastructure," said Paul Fursey, Phillips 66 Limited UK lead executive. "This strategic move will unlock new growth opportunities for traditional and renewable fuels and help protect UK energy security at a
ATLANTA, April 22, 2026 /PRNewswire/ -- Points of Light, the world's largest organization dedicated to volunteering and service, celebrates Global Volunteer Month throughout April. The nonprofit also announced a new campaign, Mobilizing Millions, in partnership with national energy leader Phillips 66 to expand volunteer engagement and strengthen nonprofit capacity nationwide. Global Volunteer Month and this new partnership arrive as the country approaches its 250th anniversary, celebrating centuries of America's enduring legacy and tradition of service. Global Volunteer Month is
Phillips 66 (NYSE:PSX) and Kinder Morgan, Inc. (NYSE:KMI) today announced the advancement of the Western Gateway Pipeline (Western Gateway), a proposed refined products pipeline system, following a successful second open season that secured long-term shipper commitments sufficient to move the project forward, subject to the execution of definitive transportation service agreements, joint venture agreements, and respective board approvals. "Customer response during the open season underscores the importance of Western Gateway in addressing long‑term refined products logistics needs in the region," said Phillips 66 Chairman and CEO Mark Lashier. "Strong market interest validates the role th
The board of directors of Phillips 66 (NYSE:PSX) has declared a quarterly dividend of $1.27 per share on Phillips 66 common stock. The dividend is payable on June 1, 2026, to shareholders of record as of the close of business on May 18, 2026. About Phillips 66 Phillips 66 (NYSE:PSX) is a leading integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company's portfolio includes Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels businesses. Headquartered in Houston, TX, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives whi
Phillips 66 (NYSE:PSX) and Kinder Morgan, Inc. (NYSE:KMI) today announced an extension of the second open season for the Western Gateway Pipeline (Western Gateway), a newly proposed refined products pipeline system. The second open season provided additional receipt points and deliveries into the Los Angeles market via Kinder Morgan's SFPP Watson to Colton, California line. Based on continued interest, the extended open season, which will now close on April 15 at noon CT, will provide prospective shippers with additional time to complete commercial evaluations of the recently updated Transportation Services Agreement, including certain rates, and secure internal approvals for remaining ca
Phillips 66 (NYSE:PSX) executive management will host a webcast at noon ET on Wednesday, April 29, 2026, to discuss the company's first-quarter 2026 financial results, which will be released earlier that day. To access the webcast, go to the Events and Presentations section of the Phillips 66 Investors site, phillips66.com/investors. A replay of the webcast will be archived on the Events and Presentations page approximately two hours after the event, and a transcript will be available at a later date. About Phillips 66 Phillips 66 (NYSE:PSX) is a leading integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company'
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Mizuho upgraded Phillips 66 from Neutral to Outperform and set a new price target of $212.00
Morgan Stanley upgraded Phillips 66 from Equal-Weight to Overweight and set a new price target of $174.00
TD Cowen reiterated coverage of Phillips 66 with a rating of Buy and set a new price target of $145.00 from $140.00 previously
Wells Fargo initiated coverage of Phillips 66 with a rating of Overweight and set a new price target of $154.00
BofA Securities downgraded Phillips 66 from Buy to Neutral and set a new price target of $147.00
TD Cowen reiterated coverage of Phillips 66 with a rating of Buy and set a new price target of $134.00 from $130.00 previously
Citigroup downgraded Phillips 66 from Buy to Neutral and set a new price target of $130.00
Scotiabank downgraded Phillips 66 from Sector Outperform to Sector Perform and set a new price target of $133.00
Evercore ISI initiated coverage of Phillips 66 with a rating of Outperform and set a new price target of $130.00
TD Cowen reiterated coverage of Phillips 66 with a rating of Buy and set a new price target of $120.00 from $114.00 previously
Live finance-specific insights
Reported first-quarter earnings of $207 million or $0.51 per share; adjusted earnings of $200 million or $0.49 per share Formally increased Sweeny NGL fractionation capacity and Freeport LPG export dock capacity by 23% and 15%, respectively, reflecting 2025 debottlenecking Refining operated at 95% capacity utilization with 87% clean product yield Increased the annualized quarterly dividend by 7% Ended the quarter with liquidity of approximately $6.0 billion Phillips 66 (NYSE:PSX) announced first-quarter earnings. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260429051050/en/ "We are confident in our ability
Phillips 66 Limited today announced it has completed the acquisition of the assets and associated infrastructure of Prax Lindsey Oil Refinery Limited (in Liquidation). The transaction comes after the company previously agreed to the deal in January, stating its intention to integrate key assets into its Humber Refinery operations. "Completing this transaction allows Phillips 66 to play an even stronger role in supporting the UK's fuel supply and the resilience of this critical energy infrastructure," said Paul Fursey, Phillips 66 Limited UK lead executive. "This strategic move will unlock new growth opportunities for traditional and renewable fuels and help protect UK energy security at a
The board of directors of Phillips 66 (NYSE:PSX) has declared a quarterly dividend of $1.27 per share on Phillips 66 common stock. The dividend is payable on June 1, 2026, to shareholders of record as of the close of business on May 18, 2026. About Phillips 66 Phillips 66 (NYSE:PSX) is a leading integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company's portfolio includes Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels businesses. Headquartered in Houston, TX, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives whi
The board of directors of Phillips 66 (NYSE:PSX) has declared a quarterly dividend of $1.27 per share on Phillips 66 common stock, representing a $0.07 increase. The dividend is payable on March 4, 2026, to shareholders of record as of the close of business on Feb. 23, 2026. "We are increasing the dividend this quarter, reflecting our confidence in our ability to generate through-cycle cash flows," said Mark Lashier, chairman and CEO of Phillips 66. "The strength and durability of cash flows from our combined businesses support our priority to return capital to shareholders through a secure, competitive and growing dividend," Lashier said. "Since our formation in 2012, the annual divide
Fourth Quarter Reported fourth-quarter earnings of $2.9 billion or $7.17 per share; adjusted earnings of $1.0 billion or $2.47 per share; including $239 million of pre-tax accelerated depreciation on Los Angeles Refinery Achieved record NGL transportation and fractionation volumes of over 1 MMBD each Delivered record clean product yield of 88% and operated at 99% crude capacity utilization in Refining Generated $2.8 billion of net operating cash flow, $2.0 billion excluding working capital Reduced debt by $2.0 billion during the quarter, ending the year at $19.7 billion Full-Year 2025 Earnings of $4.4 billion or $10.79 per share and adjusted earnings of $2.6 billion or
Reported third-quarter earnings of $133 million or $0.32 per share; adjusted earnings of $1.0 billion or $2.52 per share; including $241 million of pre-tax accelerated depreciation on Los Angeles Refinery Operated at 99% capacity utilization in Refining with 86% clean product yield Achieved record Y-grade throughput and fractionation volumes of 1 MMBD & 930 MBD, respectively Generated $1.2 billion of net operating cash flow, $1.9 billion excluding working capital Recently acquired the remaining 50% interest in WRB Refining LP, gaining full ownership of the Wood River and Borger refineries Phillips 66 (NYSE:PSX) announced third-quarter earnings. "Our third quarter results r
The board of directors of Phillips 66 (NYSE:PSX) has declared a quarterly dividend of $1.20 per share on Phillips 66 common stock. The dividend is payable on Dec. 1, 2025, to shareholders of record as of the close of business on Nov. 17, 2025. About Phillips 66 Phillips 66 (NYSE:PSX) is a leading integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company's portfolio includes Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while
Reported second-quarter earnings of $877 million or $2.15 per share; adjusted earnings of $973 million or $2.38 per share; including $239 million of pre-tax accelerated depreciation on Los Angeles Refinery Operated at 98% capacity utilization in Refining with 86% clean product yield Completed Midstream acquisition of EPIC NGL, now renamed Coastal Bend Announced sale of 65% interest in our Germany and Austria retail marketing business Generated $845 million of net operating cash flow, $1.9 billion excluding working capital Returned $906 million to shareholders through dividends and share repurchases Phillips 66 (NYSE:PSX) announced second-quarter earnings. "Phillips 66 d
The board of directors of Phillips 66 (NYSE:PSX) has declared a quarterly dividend of $1.20 per share on Phillips 66 common stock. The dividend is payable on Sept. 2, 2025, to shareholders of record as of the close of business on Aug. 19, 2025. About Phillips 66 Phillips 66 (NYSE:PSX) is a leading integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company's portfolio includes Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while
Highlights Key Issues on the Ballot at May 21st Annual Meeting Phillips 66 Urges Shareholders to Vote "FOR" ONLY Phillips 66's Nominees on the WHITE Proxy Card Phillips 66 (NYSE:PSX) today sent a letter to shareholders highlighting the key issues on the ballot at its Annual Meeting on May 21. The full text of the Independent Directors of the Board's letter to shareholders follows: Dear Fellow Shareholders, As the Independent Directors of the Board of Phillips 66, it is our fiduciary duty to protect the rights of all shareholders and oversee the Company to drive long-term shareholder value. As part of our focus on long-term value, we want to center your attention on three core issues t
Live Leadership Updates
Phillips 66 (NYSE:PSX) today announced that the Board of Directors has appointed Greg Hayes to serve as lead independent director, effective immediately. "We are pleased to have Greg step into the role of Lead Independent Director," said Mark Lashier, Chairman and Chief Executive Officer of Phillips 66. "His distinguished leadership experience and deep knowledge of Phillips 66 position him well for this responsibility. I look forward to his leadership." As previously disclosed, Glenn Tilton and Marna Whittington did not stand for re-election at Phillips 66's Annual Meeting of Shareholders and accordingly retired from the Board at the end of their terms. Doug Terreson will succeed Whitti
Appointments follow constructive engagement with Elliott Investment Management and will strengthen the Board with financial, operational, and energy expertise Phillips 66 (NYSE:PSX) today announced that it has appointed Howard Ungerleider and Kevin Meyers to serve on the Company's Board of Directors, effective immediately. "Phillips 66 is pleased to welcome Howard and Kevin to our board," said Mark Lashier, Chairman and Chief Executive Officer of Phillips 66. "Howard brings exceptional financial leadership and deep expertise in large-scale industrial transformation, and Kevin brings more than 40 years of hands-on energy sector experience." Lashier continued, "We have made significant
Cyclum NextGen Travel Centers is proud to return to the historic Snowball Derby at Five Flags Speedway with its driver Kole Raz for the most iconic Super Late Model race in the country. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251206803293/en/Kole Raz practicing December 4, 2025 for the 2025 Snowball Derby at Five Flags Speedway in Pensacola, FL. The team will showcase its branding agreement with Phillips 66 through the iconic 76® brand, featuring the 76® Renewable Diesel-branded car. Driver Kole Raz will proudly represent both brands as he takes on one of the most competitive stages in short-track racing, further strength
Motorola Solutions (NYSE:MSI), a global leader in safety and security technologies, today announced that Mark Lashier has been appointed to its board of directors. Lashier is chairman and chief executive officer at Phillips 66 (NYSE:PSX). A chemical engineer, Lashier has over 30 years of experience in various executive leadership roles within the energy and petrochemical industries. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251118217693/en/Motorola Solutions Appoints Mark Lashier to Board of Directors Credit: Motorola Solutions "I'm pleased to have Mark join our board and welcome a fellow CEO and his experience and insights
Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, and Energy Equation Partners ("EEP"), a newly formed investment firm with significant expertise in fuel retail, today announced an agreement to acquire a majority interest in JET Tankstellen Deutschland GmbH ("JET"), a leading fuel retailer in Germany and Austria, from a subsidiary of Phillips 66 (NYSE:PSX), in a transaction valuing the business at an enterprise value of approximately €2.5 billion. Phillips 66 will retain a 35% minority interest in JET as part of the transaction through a newly formed joint venture. This press release features multimedia. View the full release here: https://www.
Disagrees with ISS' and Glass Lewis' Recommendations which Failed to Address Critical Issues Reiterates The Strength Of Phillips 66's Highly Qualified Board And Nominees Phillips 66 (NYSE:PSX) today announced that it strongly disagrees with the recommendations issued by Institutional Shareholder Services ("ISS") and Glass Lewis & Co. ("Glass Lewis"). "We disagree with the recommendations issued by ISS and Glass Lewis," said the Phillips 66 Independent Directors. "We remain committed to engaging with and listening to our shareholders on the issues in this campaign." The Company notes the following issues and omissions in the reports' analyses that remain critical factors for shareholders
ISS Validates Elliott's Case for Change and Recommends Nominees Brian Coffman, Sigmund Cornelius, Michael Heim and Stacy Nieuwoudt Notes Phillips 66's "Disappointing" Operating Performance, "Selective Disclosure, Unverifiable Claims About Various Operational Successes, and Ambiguous and Vague Responses to Otherwise Basic Questions" Cites the Board's "Failure" to Ensure Strong Governance and Board Oversight as Evidence of the Company's "Disconnect from Shareholders" All Three Proxy Advisory Firms – ISS, Glass Lewis and Egan-Jones – Have Now Endorsed Elliott's Case for Change at Phillips 66 WEST PALM BEACH, Fla., May 12, 2025 /PRNewswire/ -- Elliott Investment Management L.P. ("Elliott"), whi
Discussion Focuses on His Significant Experience at ConocoPhillips and Importance of Evaluating Opportunities to Realize Full Value of Phillips 66's Assets Visit Streamline66.com to Subscribe to the Podcast and Learn About Elliott's "Streamline 66" Campaign at Phillips 66 WEST PALM BEACH, Fla., April 22, 2025 /PRNewswire/ -- Elliott Investment Management L.P. ("Elliott"), which manages funds that together make it a top five shareholder in Phillips 66 (NYSE:PSX) (the "Company" or "Phillips"), today released the fourth episode of the Streamline 66 Podcast. The series features 1:1 conversations with Elliott's highly qualified director nominees ("Nominees" or "Nominee"), as well as industry expe
DALLAS, April 14, 2025 (GLOBE NEWSWIRE) -- Berry Corporation (bry) (NASDAQ:BRY) ("Berry" or the "Company") today announced the appointment of Jenarae Garland as Vice President, General Counsel, Corporate Secretary and Chief Compliance Officer, effective immediately. Ms. Garland brings with her a wealth of industry experience, having served as a key strategic legal partner to executive leadership teams and boards of major energy corporations, including advising on capital markets and commercial and strategic transactions. Fernando Araujo, Berry's Chief Executive Officer, commented, "We are excited to welcome Jenarae to our executive leadership team during this pivotal time for our business
First Episode with Brian Coffman, Former CEO of Motiva, Features Refining Discussion Based on Over 40-Years of Industry Expertise Program Accessible on Apple, Spotify, YouTube and More Visit Streamline66.com to Learn About Elliott's Campaign at Phillips 66 and Subscribe to the New Podcast WEST PALM BEACH, Fla., April 8, 2025 /PRNewswire/ -- Elliott Investment Management L.P. ("Elliott"), which manages funds that together make it a top five shareholder in Phillips 66 (NYSE:PSX) (the "Company" or "Phillips"), today announced the launch of the Streamline 66 Podcast, a new series that will feature 1:1 conversations with Elliott's highly qualified director nominees ("Nominees" or "Nominee"), as w
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