Phillips 66 (PSX)

• Market cap: $43.6B
• 1 day: 1.58%
• 5 days: 4.81%
• 1 month: 7.55%
• 3 months: -10.34%
• 6 months: -13.30%
• Year to date: -3.05%
• 1 year: -24.91%
• 5 years: 44.67%
• 10 years: 37.72%
• Sector: Energy
• Industry: Oil & Gas Refining & Marketing

About: Phillips 66 is an independent refiner that owns or holds interest in 11 refineries with a total crude throughput capacity of 1.8 million barrels per day, or mmb/d, at the end of 2024. The midstream segment comprises extensive transportation and NGL processing assets. It includes 70,000 miles of crude oil, refined petroleum product, NGL and natural gas pipeline systems, and a comprehensive set of refined petroleum product, NGL and crude oil terminals, gathering and processing plants and fractionation facilities and various other storage and loading facilities. Its CPChem chemical joint venture operates facilities primarily in the United States and the Middle East and produces olefins and polyolefins.

Employees: 13,200

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

12% more first-time investments, than exits

New positions opened: 202 | Existing positions closed: 180

2.84% more ownership

Funds ownership: 71.36% [Q3] → 74.21% (+2.84%) [Q4]

3% more call options, than puts

Call options by funds: $309M | Put options by funds: $299M

0% less funds holding

Funds holding: 1,746 [Q3] → 1,739 (-7) [Q4]

6% less repeat investments, than reductions

Existing positions increased: 603 | Existing positions reduced: 641

7% less capital invested

Capital invested by funds: $39.3B [Q3] → $36.6B (-$2.67B) [Q4]

61% less funds holding in top 10

Funds holding in top 10: 18 [Q3] → 7 (-11) [Q4]

Research analyst outlook

9 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $106 4% downside
• Avg. target: $132 19% upside
• High target: $149 34% upside

9 analyst ratings

• positive: 5 56%
• neutral: 4 44%
• negative: 0 0%

JP Morgan John Royall 33% 1-year accuracy 5 / 15 met price target	18% upside $131	Overweight Maintained	29 Apr 2025
UBS Spiro Dounis 33% 1-year accuracy 5 / 15 met price target	26% upside $140	Buy Maintained	28 Apr 2025
Wells Fargo Roger Read 28% 1-year accuracy 31 / 110 met price target	34% upside $149	Overweight Maintained	28 Apr 2025
Morgan Stanley Connor Lynagh 40% 1-year accuracy 8 / 20 met price target	10% upside $122	Equal-Weight Maintained	24 Apr 2025
Scotiabank Paul Cheng 34% 1-year accuracy 13 / 38 met price target	20% upside $133	Sector Outperform Maintained	11 Apr 2025