Phillips 66
Refines and markets fuels while operating NGL infrastructure and a petrochemicals joint venture.
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Profile
Processes crude oil and natural gas liquids, transports and stores energy products, markets fuels and lubricants, and produces renewable fuels. Earnings span fee-based midstream services and commodity-sensitive refining, marketing and petrochemicals, with the latter held through the half-owned CPChem joint venture.
Operates five businesses: Midstream transports and stores crude oil and refined products while gathering, processing and fractionating natural gas liquids; Refining makes gasoline, diesel and jet fuel; Marketing and Specialties sells fuels, lubricants and related products; Renewable Fuels converts renewable feedstocks into renewable diesel and other fuels at Rodeo and Humber; and Chemicals holds the stake in Chevron Phillips Chemical.
Most owned infrastructure is in the United States, with refining and marketing activity in the United Kingdom and retained European interests. An integrated logistics, processing and marketing footprint connects production regions with domestic and export markets.
Results depend on volatile refining, natural gas liquids and petrochemical margins. Renewable-fuel economics also reflect feedstock costs and regulatory credits, while Chemicals operates through the half-owned CPChem joint venture.
Company facts
Key statistics
Year to date +86.9% · Average volume (30d) 2.5M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 10, 2026 | Piper Sandler | Reiterate | Neutral | $208 | $209 |
| Aug 6, 2026 | Wells Fargo | Reiterate | Overweight | $162 | $239 |
| Aug 6, 2026 | Barclays | Reiterate | Equal Weight | $183 | $216 |
| Jul 27, 2026 | UBS | Reiterate | Buy | $212 | $235 |
| Jul 23, 2026 | Piper Sandler | Target | $177 | $208 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $7.50 | $9.41 | +25.5% | $43.60B | $51.93B | +19.1% | −1.62% |
| Apr 29, 2026Q1 FY26 | −$0.54 | $0.49 | +190.3% | $35.86B | $33.00B | −8.0% | +3.26% |
| Feb 4, 2026Q4 FY25 | $2.15 | $2.47 | +14.9% | $33.86B | $36.33B | +7.3% | −0.17% |
| Oct 29, 2025Q3 FY25 | $2.14 | $2.52 | +17.8% | $33.54B | $34.98B | +4.3% | −0.67% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $30.50B | $33.17B | $34.51B | $34.02B | $34.08B | $51.00B | |
| Gross profit | $586.0M | $1.89B | $1.91B | $2.14B | $3.63B | $7.34B | |
| Operating income | −$166.0M | $1.09B | $901.0M | $1.50B | $2.85B | $4.99B | |
| Net income | $487.0M | $877.0M | $133.0M | $2.91B | $207.0M | $3.85B | |
| Diluted EPS | $1.18 | $2.15 | $0.32 | $7.17 | $0.51 | $9.55 | |
| Gross margin | 1.9% | 5.7% | 5.5% | 6.3% | 10.6% | 14.4% | |
| Operating margin | -0.5% | 3.3% | 2.6% | 4.4% | 8.4% | 9.8% |
Fiscal years (4-quarter sums)FY21 $111.94B · FY22 $170.12B · FY23 $147.26B · FY24 $143.12B · FY25 $132.19B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $4.10B · Total debt $20.57B · Total assets $81.81B · Shareholders' equity $31.51B
Dividends
Raised for 4 straight years — most recently to $1.27 from $1.20 in Feb 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 18, 2026 | Aug 18 | Sep 1 | $1.27 | |
| May 18, 2026 | May 18 | Jun 1 | $1.27 | |
| Feb 23, 2026 | Feb 23 | Mar 4 | $1.27 | raised from $1.20 |
| Nov 17, 2025 | Nov 17 | Dec 1 | $1.20 | |
| Aug 19, 2025 | Aug 19 | Sep 2 | $1.20 | |
| May 19, 2025 | May 19 | Jun 2 | $1.20 | raised from $1.15 |
| Feb 24, 2025 | Feb 24 | Mar 5 | $1.15 | |
| Nov 18, 2024 | Nov 18 | Dec 2 | $1.15 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 400.94M · Float 400.01M · 99.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 34.11M | 8.51% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 26.18M | 6.53% | 13F | Aug 13, 2026 |
| State Street Corp | 26.04M | 6.50% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 22.21M | 5.54% | 13F | Aug 13, 2026 |
| Elliott Investment Management L.P. | 19.25M | 4.80% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 12, 2026 | Richard G. Harbison | officer: EVP, Refining | −52,100 | $223.76 |
| Aug 11, 2026 | Brian Mandell | officer: Executive Vice President | −30,000 | $215.00 |
| Aug 10, 2026 | Brian Mandell | officer: Executive Vice President | −3,300 | $214.02 |
| Aug 10, 2026 | Lisa Ann Davis | director | −1,515 | $207.73 |
| Aug 10, 2026 | Ann M. Kluppel | officer: SVP and Controller | −6,034 | $212.50 |
Peers
- Marathon Petroleum
Largest US independent refiner; Elliott's primary PSX refining benchmark.
- Valero Energy
World's largest independent refiner; rival in refining and renewable diesel.
- Enterprise Products Partners
Largest US NGL midstream MLP; rival in Permian fractionation and LPG export.
- ExxonMobil
Integrated oil major competing across refining, polyolefins, and fuel marketing.
- ONEOK
Major midstream operator; rivals DCP in NGL gathering and refined products.
- HF Sinclair
Independent refiner competing in lubricants, specialties, and renewable diesel.
- LyondellBasell
Top-3 North American ethylene producer; head-to-head with CPChem in polyolefins.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Phillips 66 | $244.72 | +0.27% | $97.83B | 13.9 | 8.8 | 0.6 | +55.9% |
| Marathon Petroleum | $369.35 | +0.10% | $107.68B | 12.7 | 7.5 | 0.7 | +54.9% |
| Valero Energy | $352.97 | +0.19% | $101.45B | 14.6 | 8.3 | 0.8 | +48.8% |
| Enterprise Products Partners | $39.00 | −0.04% | $84.42B | 13.5 | 12.8 | 1.4 | +60.8% |
| ExxonMobil | $156.80 | +0.08% | $649.44B | 20.2 | 13.2 | 1.8 | +46.0% |
| ONEOK | $94.50 | −0.26% | $59.71B | 16.3 | 15.6 | 1.5 | +52.8% |
| HF Sinclair | $100.35 | +0.64% | $17.73B | 9.5 | 7.3 | 0.6 | +53.2% |
| LyondellBasell | $63.72 | +0.07% | $20.55B | — | 7.8 | 0.7 | +19.8% |
| Median | 14.1 | 8.3 | 0.8 | +52.8% |