Phillips 66

The stock of Phillips 66 climbed to an all-time high of $242.49 and is up 102.5% over one year and 89% year-to-date. With a market capitalization of $96.6 billion, a P/E ratio of 13.79 and a Piotroski Score of 9, InvestingPro classifies the stock as undervalued; 14 analysts recently raised their earnings estimates. For Q2/2026 Phillips 66 reported adjusted earnings of $9.41 per share (above expectations) but missed revenue with $42.1 billion. Piper Sandler slightly raised its price target to $209 with a neutral rating, and the company aims to reduce gross debt to $17 billion by the end of 2026; higher oil prices from tensions in the Middle East are supporting sector sentiment. » More on de.investing.com

Phillips 66 reported solid Q2 results with higher refining margins that supported a quarterly dividend of $1.27 (2.25% yield). TD Cowen's Jason Gabelman reiterated a buy and raised his price target to $255, citing lower expected interest expense and faster-than-expected net debt reduction toward a $15.5 billion target. Management signaled increased buybacks in H2 and the possibility of a larger dividend hike after recent annual increases, reinforcing its defensive-refiner appeal. » More on cnbc.com

Phillips 66 said it has become the world’s third-largest purchaser of Venezuelan crude by expanding its time-charter fleet and using Jones Act waivers, receiving about 20% of exemptions. The fleet has grown fourfold over two years and now supports roughly 40% of the company’s asset-backed crude and product needs. The company reported $3.8 billion in quarterly net income and its stock is up 57% year-to-date despite a recent pullback. The waivers and purchases come as political scrutiny rises over refinery profits amid higher global oil prices. » More on forbes.com