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PSXNYSE/energy

Phillips 66

$198.29Up+9.93 (+5.27%)
Research reviewed: 2026年7月12日 00:00 UTC
Research overview3-month price contextInvestment thesisKey catalystsLatest earnings researchRecent newsData and research sources

Research overview

Phillips 66 operates in Oil and Gas Refining and Marketing within the energy sector. This profile tracks its company-specific earnings drivers, valuation conditions, and primary-source risks.

始値
192.24
高値
198.58
安値
191.12
時価総額
795.01億
PER
19.61
52週高値
--
配当
2.700%
四半期配当額
--

3-month price context

直近3か月の推移を表示し、フル調査ワークスペースに進む前に短期構造を把握できます。

Investment thesis

Base case
Fractionation, export and pipeline projects can add fee-oriented cash flow. The base case remains conditional on refining volatility staying manageable.
Bull case
Fractionation, export and pipeline projects can add fee-oriented cash flow. High utilization and clean-product yield can improve margin capture. New polymer capacity can support long-duration growth after startup.
Bear case
Crack spreads, differentials and outages can rapidly change earnings. Derivative timing and accounting can create large reported swings. Large projects face cost, schedule and startup risks.
Thesis invalidation
Reassess the thesis if crack spreads, differentials and outages can rapidly change earnings.

Key catalysts

  • Midstream expansion

    Fractionation, export and pipeline projects can add fee-oriented cash flow.

  • Refining execution

    High utilization and clean-product yield can improve margin capture.

  • Chemicals projects

    New polymer capacity can support long-duration growth after startup.

Principal risks

  • Refining volatility

    Crack spreads, differentials and outages can rapidly change earnings.

  • Hedging volatility

    Derivative timing and accounting can create large reported swings.

  • Project execution

    Large projects face cost, schedule and startup risks.

Latest earnings research

Q1 2026

Phillips 66 reported strong operations and expanded midstream capacity, while commodity hedging and market volatility affected first-quarter reported results.

Valuation interpretation

  • Execution quality: The valuation case depends on midstream expansion translating into durable cash-flow growth.
  • Risk balance: Expected returns should be weighed against refining volatility and capital requirements.

Peer research

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Recent news

Motley Fool · 3 時間前

Phillips 66's CFO Cashed In Options but Kept an $18.3 Million Stake — Here's What Investors Should Focus On Instead

Investor's Business Daily · 4 時間前

Oil Surges As Trump Asserts Control Over Strait Of Hormuz; What Happens Now

MT Newswires · 6 時間前

US Equity Markets End Lower After Trump Proposes Blockade of Iranian Ships, Toll on Strait of Hormuz

Zacks · 10 時間前

Renewed Middle East Tensions Threaten Supply: 3 Energy Stocks to Watch

Zacks · 4 日前

Phillips 66 (PSX) Beats Stock Market Upswing: What Investors Need to Know

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Zacks · 4 日前

Can Valero Energy Benefit From Renewed Middle East Tensions?

Data and research sources

Research updated: 2026年7月12日 00:00 UTC
3 verified sources
Phillips 66 Reports First-Quarter Results: Expanded Capacity and Continued Strong OperationsPhillips 66 · earningsVerified

Fetched: 2026/7/12 0:00:00 UTC

Published: 2026/4/29 0:00:00

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Phillips 66 Investor RelationsPhillips 66 · companyVerified

Fetched: 2026/7/12 0:00:00 UTC

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Phillips 66 SEC filings and company factsU.S. Securities and Exchange Commission · filingVerified

Fetched: 2026/7/12 0:00:00 UTC

Published: 2026/4/29 0:00:00

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