Phillips 66 Acquires Lindsey Oil Refinery to Boost Supply Capacity
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 08 Jan 26
Source: Benzinga
Phillips 66's stock rose by 5.01% as it reached a 5-day high, reflecting positive investor sentiment. The increase is attributed to the company's announcement of its acquisition of the Lindsey Oil Refinery, which is expected to enhance supply capacity and energy security in the UK. This strategic move, along with a planned $2.4 billion capital expenditure for 2026, signals strong growth potential and investor confidence in Phillips 66's future operations.
Analyst Views on PSX
Wall Street analysts forecast PSX stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for PSX is 132.40 USD with a low forecast of 110.00 USD and a high forecast of 162.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
15 Analyst Rating
8 Buy
7 Hold
0 Sell
Moderate Buy
Current: 142.080
Low
110.00
Averages
132.40
High
162.00
Current: 142.080
Low
110.00
Averages
132.40
High
162.00
About PSX
Phillips 66 is a diversified and integrated downstream energy provider that manufactures, transports and markets products. The Company's Midstream segment provides crude oil and refined petroleum product transportation, terminating and processing services, as well as natural gas and natural gas liquids (NGL) transportation, storage, fractionation, gathering, processing and marketing services. Its Chemicals segment consists of its 50% equity investment in Chevron Phillips Chemical Company LLC, which manufactures and markets petrochemicals and plastics on a worldwide basis. Its Refining segment refines crude oil and other feedstocks into petroleum products, such as gasoline, distillates, including aviation fuels. Its Marketing and Specialties segment purchases for resale and markets refined products, mainly in the United States and Europe. Its Renewable Fuels segment processes renewable feedstocks into renewable products at the Rodeo Renewable Energy Complex and at its Humber Refinery.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
