Phillips 66 Stock: Is Wall Street Bullish or Bearish?

Written by Emily J. Thompson, Senior Investment Analyst

PSX+0.68%

CRAK+0.56%

BCS-0.29%

Source: NASDAQ.COM

Updated: May 15 2025

0mins

Source: NASDAQ.COM

Company Overview and Performance: Phillips 66, an energy manufacturing and logistics company, has seen its shares decline by 13.9% over the past year, underperforming the S&P 500 Index, although it has gained 9.5% in 2025 thus far. The company's recent Q1 results showed a larger-than-expected loss, contributing to a mixed earnings surprise history.
Analyst Ratings and Price Targets: Analysts have a consensus rating of "Moderate Buy" for PSX stock, with Barclays raising the price target to $115, while the mean price target stands at $128.28, indicating potential upside from current levels.

PSX

$142.9+Infinity%1D

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: 141.930

Low

110.00

Averages

132.40

High

162.00

Current: 141.930

Low

110.00

Averages

132.40

High

162.00

Scotiabank

Paul Cheng

Sector Perform

maintain

$133 -> $140

2026-01-16

Reason

Scotiabank

Paul Cheng

Price Target

$133 -> $140

AI Analysis

2026-01-16

maintain

Sector Perform

Reason

Scotiabank analyst Paul Cheng raised the firm's price target on Phillips 66 to $140 from $133 and keeps a Sector Perform rating on the shares. The firm is updating its price targets for U.S. Integrated Oil, Refining, and Large Cap Exploration & Production, E&P, stocks under its coverage, the analyst tells investors. Scotiabank expects earnings for the quarter to be straightforward due to the absence of major winter weather disruptions. Additionally, looking ahead, the firm expects investors to focus on whether recent market turmoil will cause changes to 2026 guidance and if any E&P companies will adopt cost reduction programs.

Piper Sandler

Ryan Todd

Neutral

downgrade

$171 -> $155

2026-01-08

Reason

Piper Sandler

Ryan Todd

Price Target

$171 -> $155

2026-01-08

downgrade

Neutral

Reason

Piper Sandler analyst Ryan Todd lowered the firm's price target on Phillips 66 to $155 from $171 and keeps a Neutral rating on the shares. The firm says that entering 2026, while the chairs have shuffled around a bit, the song remains similar to twelve months ago - a bearish crude outlook that is likely to make it difficult for the sector to outperform the broader market. On the flip side, Piper sees the refining market as even better than 2025, driven by what it expects to be incrementally tighter S/D and crude differential tailwinds.

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Freedom Capital

Sergey Pigarev

Hold -> Sell

downgrade

$138

2026-01-06

Reason

Freedom Capital

Sergey Pigarev

Price Target

$138

2026-01-06

downgrade

Hold -> Sell

Reason

Freedom Capital analyst Sergey Pigarev downgraded Phillips 66 to Sell from Hold with a $138 price target. The "euphoria" in the U.S. oil and gas sector triggered by the U.S. operation in Venezuela is "unjustified," contends the analyst, who calls rising oil and gas equities amid declining oil prices "a dangerous game for investors." The sharp rally in U.S. oil and gas stocks over recent months shows little regard for the sector's negative fundamental backdrop, marked by falling oil prices and an oversupplied market, the analyst argues.

Mizuho

Neutral

maintain

$145 -> $150

2025-12-12

Reason

Mizuho

Price Target

$145 -> $150

2025-12-12

maintain

Neutral

Reason

Mizuho raised the firm's price target on Phillips 66 to $150 from $145 and keeps a Neutral rating on the shares. The firm adjusted ratings and targets in the exploration and production group as part of its 2026 outlook. While sentiment for U.S. oil and gas names is negative on oil market oversupply and high gas storage, there is "underappreciated value" in the group, particularly in exploration and production on longer-term fundamentals that could start becoming realized in 2026, the analyst tells investors in a research note. Mizuho suggests a reallocation of risk toward oil E&Ps with a selective bias in gas stocks. It turned more neutral on refining.

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.