Phillips 66 (PSX), headquartered in Houston, Texas, operates as an energy manufacturing and logistics company. With a market cap of $73 billion, the company’s operations include oil refining, marketing, and transportation along with chemical manufacturing and power generation. The leading integrated downstream energy provider is expected to announce its fiscal first-quarter earnings for 2026 before the market opens on Wednesday, Apr. 29.
Ahead of the event, analysts expect PSX to report a profit of $2.22 per share on a diluted basis, up 346.7% from a loss of $0.90 per share in the year-ago quarter. The company beat the consensus estimates in three of the last four quarters while missing the forecast on another occasion.
For the full year, analysts expect PSX to report EPS of $13.49, up 109.5% from $6.44 in fiscal 2025. Its EPS is expected to rise 8% year over year to $14.57 in fiscal 2027.
PSX stock has outperformed the S&P 500 Index’s ($SPX) 16.7% gains over the past 52 weeks, with shares up 41.3% during this period. Similarly, it outperformed the State Street Energy Select Sector SPDR ETF’s (XLE) 25.5% gains over the same time frame.
PSX's strong performance is driven by its ability to handle discounted heavy crude amid Middle East tensions, benefiting from lower feedstock costs and higher refined product prices. U.S. refiners like PSX can access cheaper regional crude, boosting margins.
On Feb. 4, PSX shares closed up by 4.5% after reporting its Q4 results. Its adjusted EPS of $2.47 topped Wall Street expectations of $2.11.
Analysts’ consensus opinion on PSX stock is moderately bullish, with a “Moderate Buy” rating overall. Out of 21 analysts covering the stock, nine advise a “Strong Buy” rating, one suggests a “Moderate Buy,” 10 give a “Hold,” and one recommends a “Strong Sell.” While PSX currently trades above its mean price target of $166.71, the Street-high price target of $205 suggests an upside potential of 16.7%.
On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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