Are Wall Street Analysts Bullish on Phillips 66 Stock?

Core Insights - Phillips 66 (PSX) is valued at a market cap of $55.9 billion and operates in various sectors including midstream infrastructure, refining, chemicals, marketing, specialty products, and renewable fuels, with a focus on lower-carbon energy solutions [1] Performance Overview - Over the past 52 weeks, PSX shares have gained 10.1%, underperforming the S&P 500 Index which increased by 14.1%. However, year-to-date, PSX stock is up 23.6%, outperforming the S&P 500's 16.4% return [2] - PSX has also outperformed the ProShares Ultra Energy's (DIG) 13.6% decline over the past 52 weeks and a 5.1% year-to-date increase [3] Earnings Report - On October 29, PSX shares surged 3.3% following the Q3 earnings release, reporting an adjusted EPS of $2.52, a 5.9% increase year-over-year, exceeding consensus expectations of $2.07. Adjusted EBITDA was $2.6 billion, up 3.7% year-over-year, and cash flow from operations rose 39.4% to $1.2 billion, driven by strong performance in the chemicals segment [4] Future Earnings Expectations - Analysts project an 8% decline in PSX's EPS for the current fiscal year, ending in December, to $5.66. The company's earnings surprise history shows mixed results, exceeding estimates in three of the last four quarters [5] Analyst Ratings - Among 21 analysts covering PSX, the consensus rating is a "Moderate Buy," with eight "Strong Buy," one "Moderate Buy," and 12 "Hold" ratings. This is a slight improvement from two months ago, with seven analysts now suggesting a "Strong Buy" [5][6] - On November 3, an analyst downgraded PSX to "Hold" with a price target of $138, while the mean price target of $146.55 indicates a 4% premium from current levels, and the highest target of $170 suggests a potential upside of 20.7% [7]