Investment Analysts’ Weekly Ratings Updates for Phillips 66 (PSX)

Several brokerages have updated their recommendations and price targets on shares of Phillips 66 (NYSE: PSX) in the last few weeks:

• 10/19/2026 – Phillips 66 had its “outperform” rating reaffirmed by Raymond James Financial, Inc.. They now have a $335.00 price target on the stock.
• 10/14/2026 – Phillips 66 had its price target raised by Wells Fargo & Company from $335.00 to $345.00. They now have an “overweight” rating on the stock.
• 10/13/2026 – Phillips 66 had its price target raised by Citigroup Inc. from $217.00 to $297.00. They now have a “neutral” rating on the stock.
• 10/12/2026 – Phillips 66 had its price target raised by Barclays PLC from $216.00 to $282.00. They now have an “equal weight” rating on the stock.
• 10/11/2026 – Phillips 66 had its “hold” rating reaffirmed by Jefferies Financial Group Inc.. They now have a $276.00 price target on the stock.
• 10/8/2026 – Phillips 66 was upgraded by Weiss Ratings from “buy (b)” to “buy (b+)”.
• 10/8/2026 – Phillips 66 had its “neutral” rating reaffirmed by Mizuho. They now have a $300.00 price target on the stock, up from $220.00.
• 9/30/2026 – Phillips 66 had its price target raised by The Goldman Sachs Group, Inc. from $245.00 to $274.00. They now have a “neutral” rating on the stock.
• 9/30/2026 – Phillips 66 had its price target raised by TD Cowen from $255.00 to $295.00. They now have a “buy” rating on the stock.
• 9/17/2026 – Phillips 66 had its price target raised by BMO Capital Markets from $260.00 to $310.00. They now have an “outperform” rating on the stock.
• 9/14/2026 – Phillips 66 had its price target raised by Raymond James Financial, Inc. from $240.00 to $300.00. They now have an “outperform” rating on the stock.
• 9/14/2026 – Phillips 66 had its price target raised by Morgan Stanley from $196.00 to $284.00. They now have an “overweight” rating on the stock.
• 9/8/2026 – Phillips 66 had its price target raised by UBS Group AG from $235.00 to $300.00. They now have a “buy” rating on the stock.
• 9/7/2026 – Phillips 66 was upgraded by Zacks Research from “hold” to “strong-buy”.
• 9/3/2026 – Phillips 66 had its price target raised by Piper Sandler from $209.00 to $264.00. They now have a “neutral” rating on the stock.
• 9/1/2026 – Phillips 66 had its price target raised by Wells Fargo & Company from $239.00 to $335.00. They now have an “overweight” rating on the stock.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 17th will be issued a dividend of $1.33 per share. This represents a $5.32 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Tuesday, November 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.27. Phillips 66’s dividend payout ratio (DPR) is presently 28.95%.

Insider Buying and Selling at Phillips 66

In related news, EVP Brian Mandell sold 30,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $215.00, for a total value of $6,450,000.00. Following the completion of the sale, the executive vice president directly owned 61,595 shares in the company, valued at approximately $13,242,925. This represents a 32.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard Harbison sold 52,100 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $223.76, for a total value of $11,657,896.00. Following the completion of the transaction, the executive vice president directly owned 39,094 shares in the company, valued at $8,747,673.44. This trade represents a 57.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 108,800 shares of company stock worth $25,016,566 in the last 90 days. Company insiders own 0.40% of the company’s stock.

Phillips 66 (NYSE: PSX) is an energy manufacturing and logistics company headquartered in Houston, Texas. The company was established in 2012 following the separation of ConocoPhillips’ downstream and midstream businesses.

Phillips 66 operates across midstream, chemicals, refining and marketing. Its midstream activities include gathering, processing, transporting and storing crude oil, natural gas and natural gas liquids. Through its refining operations, the company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, lubricants and other refined petroleum products.

The company markets fuel and related products under the Phillips 66, 76 and Conoco brands, serving retail, commercial, aviation and industrial customers.