Research Analysts’ Recent Ratings Updates for Phillips 66 (PSX)

A number of firms have modified their ratings and price targets on shares of Phillips 66 (NYSE: PSX) recently:

• 3/25/2026 – Phillips 66 had its price target raised by Raymond James Financial, Inc. from $175.00 to $205.00. They now have an “outperform” rating on the stock.
• 3/17/2026 – Phillips 66 had its price target raised by Mizuho from $152.00 to $170.00. They now have a “neutral” rating on the stock.
• 3/16/2026 – Phillips 66 was upgraded by Jefferies Financial Group Inc. from “hold” to “strong-buy”.
• 3/14/2026 – Phillips 66 was upgraded by Wall Street Zen from “buy” to “strong-buy”.
• 3/12/2026 – Phillips 66 had its price target raised by The Goldman Sachs Group, Inc. from $168.00 to $186.00. They now have a “neutral” rating on the stock.
• 2/28/2026 – Phillips 66 was upgraded by Wall Street Zen from “hold” to “buy”.
• 2/23/2026 – Phillips 66 was upgraded by Weiss Ratings from “hold (c)” to “buy (b-)”.
• 2/20/2026 – Phillips 66 was given a new $158.00 price target by Barclays PLC.
• 2/20/2026 – Phillips 66 had its “hold” rating reaffirmed by Jefferies Financial Group Inc.. They now have a $158.00 price target on the stock.
• 2/10/2026 – Phillips 66 had its price target raised by Argus from $152.00 to $185.00. They now have a “buy” rating on the stock.
• 2/9/2026 – Phillips 66 had its price target raised by Citigroup Inc. from $146.00 to $159.00. They now have a “neutral” rating on the stock.
• 2/6/2026 – Phillips 66 had its “buy” rating reaffirmed by TD Cowen.
• 2/6/2026 – Phillips 66 had its “buy” rating reaffirmed by UBS Group AG. They now have a $172.00 price target on the stock.
• 2/6/2026 – Phillips 66 had its “outperform” rating reaffirmed by BMO Capital Markets. They now have a $170.00 price target on the stock.
• 2/5/2026 – Phillips 66 had its price target raised by Piper Sandler from $153.00 to $156.00. They now have a “neutral” rating on the stock.
• 2/5/2026 – Phillips 66 had its price target raised by Morgan Stanley from $140.00 to $147.00. They now have an “equal weight” rating on the stock.
• 2/5/2026 – Phillips 66 had its price target raised by Wells Fargo & Company from $162.00 to $163.00. They now have an “overweight” rating on the stock.
• 1/26/2026 – Phillips 66 had its price target raised by Jefferies Financial Group Inc. from $137.00 to $149.00. They now have a “hold” rating on the stock.
• 1/26/2026 – Phillips 66 had its price target raised by Wolfe Research from $159.00 to $164.00. They now have an “outperform” rating on the stock.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were paid a $1.27 dividend. The ex-dividend date was Monday, February 23rd. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.8%. Phillips 66’s dividend payout ratio is presently 46.95%.

Insiders Place Their Bets

In other Phillips 66 news, EVP Don Baldridge sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total value of $1,200,000.00. Following the sale, the executive vice president owned 38,488 shares of the company’s stock, valued at $6,158,080. This trade represents a 16.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kevin J. Mitchell sold 16,856 shares of Phillips 66 stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $168.22, for a total value of $2,835,516.32. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $16,380,590.72. This represents a 14.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 84,688 shares of company stock valued at $14,066,145 in the last ninety days. Company insiders own 0.22% of the company’s stock.

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.