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About

Phillips 66 operates as an integrated downstream energy provider in the United States, the United Kingdom, Germany, and internationally. It operates through five segments: Midstream, Chemicals, Refining, Marketing and Specialties (M&S), and Renewable Fuels. The Midstream segment provides crude oil and refined petroleum product transportation, terminaling, and storage services, as well as natural gas and natural gas liquids (NGL) gathering, processing, transportation, fractionation, storage and marketing services. It also exports liquefied petroleum gas. The Chemicals segment produces and markets ethylene and other olefin products; aromatics and styrenics products, such as benzene, cyclohexane, styrene, and polystyrene; various specialty chemical products, including organosulfur chemicals, solvents, catalysts, and chemicals used in drilling and mining; and petrochemicals and plastics. The Refining segment refines crude oil and other feedstocks into petroleum products, such as gasolines and distillates, including aviation fuels. The M&S segment purchases for resale and markets refined products, including gasolines, distillates, and aviation fuels. This segment also manufactures and markets specialty products, such as automotive, commercial, industrial, and specialty lubricants, as well as base oils. The Renewable Fuels segment processes renewable feedstocks into renewable products, as well as supplies sustainable aviation fuel. This segment also procures renewable feedstocks, manages certain regulatory credits, and markets renewable diesel, renewable jet fuel, and other renewable fuels. The company markets its products under the Phillips 66, Conoco and 76, JET, Kendall, Red Line, and other private label brands. Phillips 66 was founded in 1875 and is headquartered in Houston, Texas.

Fundamentals
Scroll to Statements
Sector Energy Industry Oil & Gas Refining & Mar Market Cap 62.38B
Enterprise Value 83.48B Income 4.39B Sales 132.38B
Book/sh 72.53 Cash/sh 2.79 Dividend Yield 3.29%
Payout 44.02% Employees 12600 IPO —
P/E 14.31 Forward P/E 12.36 PEG —
P/S 0.47 P/B 2.13 P/C —
EV/EBITDA 12.51 EV/Sales 0.63 Quick Ratio 0.82
Current Ratio 1.30 Debt/Eq 71.38 LT Debt/Eq —
EPS (ttm) 10.79 EPS next Y 12.49 EPS Growth 2427.28%
Revenue Growth 1.30% Earnings 2026-04-24 ROA 3.75%
ROE 15.43% ROIC — Gross Margin 12.30%
Oper. Margin 2.75% Profit Margin 3.33% Shs Outstand 402.92M
Shs Float 399.89M Short Float 2.11% Short Ratio 3.21
Short Interest — 52W High 163.79 52W Low 91.01
Beta 0.87 Avg Volume 2.43M Volume 1.29M
Target Price $157.55 Recom Buy Prev Close $154.85
Price $154.36 Change -0.32%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$157.55
Mean price target
2. Current target
$154.36
Latest analyst target
3. DCF / Fair value
$56.34
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$154.36
Low
$133.00
High
$177.00
Mean
$157.55

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-02-09 main Citigroup Neutral → Neutral $159
2026-02-05 main Piper Sandler Neutral → Neutral $156
2026-02-05 main Morgan Stanley Equal-Weight → Equal-Weight $147
2026-02-05 main Wells Fargo Overweight → Overweight $163
2026-01-14 main Citigroup Neutral → Neutral $146
2026-01-13 main JP Morgan Overweight → Overweight $151
2026-01-12 main Barclays Equal-Weight → Equal-Weight $142
2026-01-12 main Piper Sandler Neutral → Neutral $153
2026-01-12 main Mizuho Neutral → Neutral $152
2026-01-08 main Piper Sandler Neutral → Neutral $155
2026-01-06 down Freedom Capital Markets Hold → Sell $138
2025-12-12 main Mizuho Neutral → Neutral $150
2025-12-05 main Piper Sandler Neutral → Neutral $171
2025-11-17 main Barclays Equal-Weight → Equal-Weight $141
2025-11-14 main Piper Sandler Neutral → Neutral $170
2025-11-03 main UBS Buy → Buy $160
2025-11-03 down Freedom Capital Markets Buy → Hold $138
2025-10-30 main TD Cowen Buy → Buy $145
2025-10-30 main Wells Fargo Overweight → Overweight $162
2025-10-30 main Piper Sandler Neutral → Neutral $159
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 7500 1200000 — Sale at price 160.00 per share. BALDRIDGE DONALD A Officer — 2026-02-17 00:00:00 D
1 7478 1171803 — Stock Award(Grant) at price 156.70 per share. SUTHERLAND VANESSA ALLEN General Counsel — 2026-02-10 00:00:00 D
2 29148 4567492 — Stock Award(Grant) at price 156.70 per share. LASHIER MARK E. Chief Executive Officer — 2026-02-10 00:00:00 D
3 8171 1280396 — Stock Award(Grant) at price 156.70 per share. HARBISON RICHARD G Officer — 2026-02-10 00:00:00 D
4 1991 311990 — Stock Award(Grant) at price 156.70 per share. KLUPPEL ANN M. Officer — 2026-02-10 00:00:00 D
5 7139 1118681 — Stock Award(Grant) at price 156.70 per share. BALDRIDGE DONALD A Officer — 2026-02-10 00:00:00 D
6 7244 1135135 — Stock Award(Grant) at price 156.70 per share. MANDELL BRIAN Officer — 2026-02-10 00:00:00 D
7 11411 1788104 — Stock Award(Grant) at price 156.70 per share. MITCHELL KEVIN J Chief Financial Officer — 2026-02-10 00:00:00 D
8 4394 659100 — Sale at price 150.00 per share. SUTHERLAND VANESSA ALLEN General Counsel — 2026-02-04 00:00:00 D
9 1423 200017 — Stock Award(Grant) at price 140.56 per share. WHITTINGTON MARNA CUPP Director — 2026-01-15 00:00:00 D
Financials
Line Item2024-12-312023-12-312022-12-312021-12-31
TaxEffectOfUnusualItems-18.33M30.68M580.20M-93.64M
TaxRateForCalcs0.190.240.220.08
NormalizedEBITDA6.08B12.24B14.29B5.07B
TotalUnusualItems-98.00M130.00M2.62B-1.12B
TotalUnusualItemsExcludingGoodwill-98.00M130.00M2.62B-1.12B
NetIncomeFromContinuingOperationNetMinorityInterest2.12B7.01B11.02B1.31B
ReconciledDepreciation2.36B1.98B1.63B1.60B
ReconciledCostOfRevenue132.32B130.06B151.56B103.71B
EBITDA5.99B12.37B16.91B3.95B
EBIT3.62B10.39B15.28B2.35B
NetInterestIncome-789.00M-657.00M-560.00M-594.00M
InterestExpense947.00M926.00M642.00M605.00M
InterestIncome158.00M269.00M82.00M11.00M
NormalizedIncome2.20B6.92B8.99B2.34B
NetIncomeFromContinuingAndDiscontinuedOperation2.12B7.01B11.02B1.31B
TotalExpenses141.41B139.45B160.37B111.01B
DilutedAverageShares421.89M453.21M473.73M440.36M
BasicAverageShares420.17M450.14M471.50M440.03M
DilutedEPS4.9915.4823.272.97
BasicEPS5.0115.5623.362.97
DilutedNIAvailtoComStockholders2.11B7.00B11.01B1.31B
AverageDilutionEarnings10.00M0.00
NetIncomeCommonStockholders2.11B7.00B11.01B1.31B
OtherunderPreferredStockDividend10.00M11.00M10.00M9.00M
NetIncome2.12B7.01B11.02B1.31B
MinorityInterests-58.00M-224.00M-367.00M-279.00M
NetIncomeIncludingNoncontrollingInterests2.17B7.24B11.39B1.59B
NetIncomeContinuousOperations2.17B7.24B11.39B1.59B
TaxProvision500.00M2.23B3.25B146.00M
PretaxIncome2.67B9.47B14.64B1.74B
OtherIncomeExpense1.72B2.18B5.58B1.87B
OtherNonOperatingIncomeExpenses37.00M29.00M-4.00M78.00M
SpecialIncomeCharges-135.00M91.00M2.96B-1.48B
GainOnSaleOfPPE321.00M115.00M7.00M18.00M
WriteOff456.00M24.00M60.00M1.50B
ImpairmentOfCapitalAssets10.00M13.00M1.29B
RestructuringAndMergernAcquisition0.000.00-3.01B0.00
EarningsFromEquityInterest1.78B2.02B2.97B2.90B
GainOnSaleOfSecurity37.00M39.00M-345.00M364.00M
NetNonOperatingInterestIncomeExpense-789.00M-657.00M-560.00M-594.00M
InterestExpenseNonOperating947.00M926.00M642.00M605.00M
InterestIncomeNonOperating158.00M269.00M82.00M11.00M
OperatingIncome1.75B7.95B9.62B468.00M
OperatingExpense9.08B9.39B8.81B7.30B
OtherOperatingExpenses5.94B6.15B6.11B5.15B
OtherTaxes329.00M707.00M530.00M410.00M
SellingGeneralAndAdministration2.81B2.52B2.17B1.74B
GrossProfit10.83B17.34B18.43B7.77B
CostOfRevenue132.32B130.06B151.56B103.71B
TotalRevenue143.15B147.40B169.99B111.48B
OperatingRevenue143.15B147.40B169.99B111.48B
Line Item2024-12-312023-12-312022-12-312021-12-31
TreasurySharesNumber248.59M224.38M186.53M211.77M
OrdinarySharesNumber408.39M430.46M465.84M438.25M
ShareIssued656.99M654.84M652.37M650.03M
NetDebt18.32B16.04B11.06B11.30B
TotalDebt20.06B19.36B17.19B14.45B
TangibleBookValue24.67B28.11B27.18B16.87B
InvestedCapital47.47B49.94B46.68B33.61B
WorkingCapital2.82B4.08B6.03B1.90B
NetTangibleAssets24.67B28.11B27.18B16.87B
CapitalLeaseObligations290.00M
CommonStockEquity27.41B30.58B29.49B19.17B
TotalCapitalization45.64B48.46B46.16B32.12B
TotalEquityGrossMinorityInterest28.46B31.65B34.11B21.64B
MinorityInterest1.05B1.07B4.61B2.47B
StockholdersEquity27.41B30.58B29.49B19.17B
GainsLossesNotAffectingRetainedEarnings-407.00M-282.00M-460.00M-445.00M
OtherEquityAdjustments-407.00M-282.00M-460.00M-445.00M
TreasuryStock22.75B19.34B15.28B17.12B
RetainedEarnings30.77B30.55B25.43B16.22B
AdditionalPaidInCapital19.79B19.65B19.79B20.50B
CapitalStock7.00M7.00M7.00M7.00M
CommonStock7.00M7.00M7.00M7.00M
TotalLiabilitiesNetMinorityInterest44.12B43.85B42.34B33.96B
TotalNonCurrentLiabilitiesNetMinorityInterest29.03B28.00B26.45B21.16B
OtherNonCurrentLiabilities1.87B1.20B1.30B940.00M
EmployeeBenefits703.00M630.00M937.00M1.05B
NonCurrentDeferredLiabilities7.10B7.42B6.67B5.47B
NonCurrentDeferredTaxesLiabilities7.10B7.42B6.67B5.47B
LongTermDebtAndCapitalLeaseObligation18.23B17.88B16.66B12.96B
LongTermCapitalLeaseObligation257.00M
LongTermDebt18.23B17.88B16.66B12.96B
LongTermProvisions1.13B864.00M879.00M727.00M
CurrentLiabilities15.09B15.86B15.89B12.80B
CurrentDeferredLiabilities1.20B1.40B1.25B
CurrentDeferredRevenue1.20B1.40B1.25B
CurrentDebtAndCapitalLeaseObligation1.83B1.48B529.00M1.49B
CurrentCapitalLeaseObligation33.00M
CurrentDebt1.83B1.48B529.00M1.49B
OtherCurrentBorrowings1.46B
PensionandOtherPostRetirementBenefitPlansCurrent732.00M863.00M764.00M638.00M
PayablesAndAccruedExpenses12.52B13.51B14.60B10.67B
CurrentAccruedExpenses1.16B1.41B1.88B959.00M
Payables11.36B12.10B12.72B9.71B
TotalTaxPayable1.06B1.20B1.40B1.25B
AccountsPayable10.30B10.90B11.32B8.46B
TotalAssets72.58B75.50B76.44B55.59B
TotalNonCurrentAssets54.67B55.56B54.52B40.90B
OtherNonCurrentAssets2.29B2.08B2.09B1.69B
NonCurrentNoteReceivables174.00M379.00M329.00M959.00M
InvestmentsAndAdvances14.20B14.92B14.62B13.51B
OtherInvestments191.00M195.00M207.00M680.00M
LongTermEquityInvestment14.01B14.73B14.41B12.83B
GoodwillAndOtherIntangibleAssets2.74B2.47B2.32B2.30B
OtherIntangibleAssets1.16B920.00M831.00M813.00M
Goodwill1.57B1.55B1.49B1.48B
NetPPE35.26B35.71B35.16B22.43B
AccumulatedDepreciation-20.69B-19.48B-17.83B-17.36B
GrossPPE55.96B55.19B52.99B39.80B
OtherProperties55.96B55.19B52.99B39.80B
CurrentAssets17.91B19.94B21.92B14.70B
OtherCurrentAssets1.14B1.14B1.53B686.00M
PrepaidAssets1.53B686.00M
Inventory4.00B3.75B3.28B3.39B
FinishedGoods3.55B3.33B2.91B3.02B
RawMaterials448.00M420.00M362.00M370.00M
Receivables11.03B11.73B10.98B7.47B
AccountsReceivable11.03B11.73B10.98B7.47B
AllowanceForDoubtfulAccountsReceivable-70.00M-71.00M-67.00M-44.00M
GrossAccountsReceivable11.10B11.80B11.05B7.51B
CashCashEquivalentsAndShortTermInvestments1.74B3.32B6.13B3.15B
CashAndCashEquivalents1.74B3.32B6.13B3.15B
Line Item2024-12-312023-12-312022-12-312021-12-31
FreeCashFlow2.33B4.87B8.93B4.16B
RepurchaseOfCapitalStock-3.45B-4.01B-1.51B0.00
RepaymentOfDebt-4.14B-4.25B-2.88B-2.95B
IssuanceOfDebt6.27B6.26B453.00M1.44B
IssuanceOfCapitalStock86.00M123.00M103.00M26.00M
CapitalExpenditure-1.86B-2.15B-1.89B-1.86B
InterestPaidSupplementalData901.00M816.00M572.00M
IncomeTaxPaidSupplementalData1.19B1.19B2.07B
EndCashPosition1.74B3.32B6.13B3.15B
BeginningCashPosition3.32B6.13B3.15B2.51B
EffectOfExchangeRateChanges-8.00M43.00M49.00M-42.00M
ChangesInCash-1.58B-2.85B2.94B675.00M
FinancingCashFlow-3.31B-8.09B-6.39B-3.47B
CashFlowFromContinuingFinancingActivities-3.31B-8.09B-6.39B-3.47B
NetOtherFinancingCharges-190.00M-4.33B-755.00M-400.00M
CashDividendsPaid-1.88B-1.88B-1.79B-1.58B
CommonStockDividendPaid-1.88B-1.88B-1.79B-1.58B
NetCommonStockIssuance-3.37B-3.89B-1.41B26.00M
CommonStockPayments-3.45B-4.01B-1.51B0.00
CommonStockIssuance86.00M123.00M103.00M26.00M
NetIssuancePaymentsOfDebt2.13B2.01B-2.43B-1.51B
NetLongTermDebtIssuance2.13B2.01B-2.43B-1.51B
LongTermDebtPayments-4.14B-4.25B-2.88B-2.95B
LongTermDebtIssuance6.27B6.26B453.00M1.44B
InvestingCashFlow-2.46B-1.79B-1.49B-1.87B
CashFlowFromContinuingInvestingActivities-2.46B-1.79B-1.49B-1.87B
NetOtherInvestingChanges-120.00M427.00M581.00M-279.00M
NetBusinessPurchaseAndSale-484.00M-62.00M-181.00M267.00M
SaleOfBusiness141.00M201.00M125.00M267.00M
PurchaseOfBusiness-625.00M-263.00M-306.00M
CapitalExpenditureReported-1.86B-2.15B-1.89B-1.86B
OperatingCashFlow4.19B7.03B10.81B6.02B
CashFlowFromContinuingOperatingActivities4.19B7.03B10.81B6.02B
ChangeInWorkingCapital-615.00M-1.81B68.00M2.12B
ChangeInPayablesAndAccruedExpense-955.00M-1.14B2.32B2.87B
ChangeInPayable-955.00M-1.14B2.32B2.87B
ChangeInAccountPayable-491.00M-480.00M1.74B2.92B
ChangeInTaxPayable-464.00M-663.00M580.00M-56.00M
ChangeInIncomeTaxPayable-464.00M-663.00M580.00M-56.00M
ChangeInPrepaidAssets44.00M269.00M-249.00M-339.00M
ChangeInInventory-278.00M-245.00M74.00M511.00M
ChangeInReceivables574.00M-696.00M-2.07B-922.00M
OtherNonCashItems798.00M-390.00M-2.77B-27.00M
UnrealizedGainLossOnInvestmentSecurities0.0038.00M433.00M-365.00M
AssetImpairmentCharge456.00M24.00M60.00M1.50B
DeferredTax-251.00M840.00M1.32B-272.00M
DeferredIncomeTax-251.00M840.00M1.32B-272.00M
DepreciationAmortizationDepletion2.36B1.98B1.63B1.60B
DepreciationAndAmortization2.36B1.98B1.63B1.60B
OperatingGainsLosses-735.00M-884.00M-1.31B-135.00M
EarningsLossesFromEquityInvestments-411.00M-822.00M-1.31B-128.00M
NetIncomeFromContinuingOperations2.17B7.24B11.39B1.59B
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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