Phillips 66 ($PSX) Stock Forecast: Up 5.0% Today

What is Phillips 66?

Phillips 66 (NYSE: PSX) is a leading energy manufacturing and logistics company with a diversified portfolio in refining, midstream, and chemicals. Today, the stock experienced a strong bullish movement in the market.

Why is Phillips 66 going up?

PSX stock is up 5.0% on Feb 6, 2026 16:12

• Long-term charter agreements secured by NYK Line with U.S. LNG producer Cheniere could indicate increased demand for LNG transportation, benefiting companies like Phillips 66 involved in the energy sector.
• Wells Fargo's positive forecast and raised price target for Phillips 66, based on strong refining margins and midstream volumes, likely contributed to the bullish movement of the stock.
• The slight workforce reduction and operational consolidation announced by Phillips 66 could be seen as strategic moves to enhance efficiency and align with evolving industry trends, potentially viewed positively by investors.
• The news of job cuts at the Los Angeles refinery, while concerning, may have been overshadowed by the overall positive outlook and developments within the company, leading to the bullish market movement.

PSX Price Chart

PSX Technical Analysis

PSX News

NYK concludes long-term charters for its new LNG carriers with U.S. energy giant Cheniere — SMI DIGITAL

Japan's NYK Line, in partnership with Ocean Yield AS, has secured long-term charter contracts with U.S. LNG producer Cheniere Marketing International LLP for new LNG carriers. These vessels, to be built by HD Hyundai Heavy Industries Co. Ltd. and delivered from 2028, will feature advanced dual-fuel engines and re-liquefaction systems for optimal efficiency. This marks NYK's first long-term time charter agreement for LNG carriers with Cheniere.

https://www.shipmanagementinternational.com/news/5c84754f8eft7hx-l7hys-dspmk-lanpr-4wllr-d4yw2-9n6h8

BP's Whiting refinery workers prepare for potential strike as union talks falter

Workers at BP's Whiting, Indiana refinery are preparing for a potential strike or lockout after union negotiations with BP failed to yield results. The United Steelworkers union, representing 800 workers, stated that BP rejected most of their proposals, which included workplace changes like cutting over 200 union jobs and stripping protections. BP countered that the allegations of limited dialogue were inaccurate and that the company is focused on reaching an agreement.

https://www.reuters.com/business/world-at-work/union-asks-workers-bps-whiting-indiana-oil-refinery-prepare-strike-or-lockout-2026-02-05/

Wells Fargo & Company Issues Positive Forecast for Phillips 66 (NYSE:PSX) Stock Price

Wells Fargo & Company has raised its price target for Phillips 66 (NYSE:PSX) to $163, maintaining an "overweight" rating. This new target implies a potential upside of 6.4% from its previous close, based on stronger refining margins and midstream volumes, which led to an EPS beat in Q4 despite a revenue miss. The article also notes significant insider selling, with executives offloading shares worth approximately $11.96 million in the last 90 days.

https://www.marketbeat.com/instant-alerts/wells-fargo-company-issues-positive-forecast-for-phillips-66-nysepsx-stock-price-2026-02-05/

Phillips 66 Confirms Slight Workforce Reduction, Relocation of Bartlesville Pipeline Control Center

Phillips 66 announced a slight workforce reduction affecting fewer than 60 positions across its Energy Research & Innovation and Information Technology departments, including at the Bartlesville Research Center. Additionally, the company confirmed the relocation of its Bartlesville Control Center to a leased backup facility in Tulsa for operational consolidation, assuring no job reductions are tied to this move. These changes aim to align Phillips 66 with strategic priorities and enhance efficiency in an evolving energy industry.

https://bartlesvilleradio.com/pages/news/482522026/phillips-66-confirms-slight-workforce-reductionrelocation-of-bartlesville-pipeline-control-center

Phillips 66 to cut jobs as Los Angeles refinery shuts, Bloomberg News reports

Phillips 66 will lay off approximately half of its workforce at its sole remaining California refinery in Wilmington following its closure, as reported by Bloomberg News. This decision comes after the company shuttered operations at the Los Angeles-area facility. The layoffs were detailed in a filing with California's employment regulator.

https://www.reuters.com/business/energy/phillips-66-cut-jobs-los-angeles-refinery-shuts-bloomberg-news-reports-2026-02-05/

Trending Today

Flowserve Corporation ($FLS) Stock Forecast: Up 7.0% Today

Stanley Black & Decker Inc. ($SWK) Stock Forecast: Up 6.2% Today

Johnson Controls International plc ($JCI) Stock Forecast: Up 5.2% Today

Monolithic Power Systems Inc. ($MPWR) Stock Forecast: Up 5.1% Today

Blink Charging Co. ($BLNK) Stock Forecast: Up 5.6% Today

Marathon Petroleum Corporation ($MPC) Stock Forecast: Up 5.0% Today

Newmont Mining Corporation ($NEM) Stock Forecast: Up 5.3% Today

Caterpillar Inc. ($CAT) Stock Forecast: Up 6.6% Today

Acuity Brands Inc. ($AYI) Stock Forecast: Up 5.0% Today

Align Technology Inc. ($ALGN) Stock Forecast: Up 5.1% Today

Phillips 66 Price History

06.01.2026 - PSX Stock was up 5.0%

• Long-term charter agreements secured by NYK Line with U.S. LNG producer Cheniere could indicate increased demand for LNG transportation, benefiting companies like Phillips 66 involved in the energy sector.
• Wells Fargo's positive forecast and raised price target for Phillips 66, based on strong refining margins and midstream volumes, likely contributed to the bullish movement of the stock.
• The slight workforce reduction and operational consolidation announced by Phillips 66 could be seen as strategic moves to enhance efficiency and align with evolving industry trends, potentially viewed positively by investors.
• The news of job cuts at the Los Angeles refinery, while concerning, may have been overshadowed by the overall positive outlook and developments within the company, leading to the bullish market movement.

10.09.2025 - PSX Stock was down 2.7%

• The bearish movement in PSX today could be attributed to profit-taking by investors after the stock's strong performance over the past 5 years.
• Market sentiment may have shifted due to concerns about the energy sector's outlook or specific company developments.
• It's possible that external factors such as changes in oil prices or regulatory issues impacted PSX's stock price negatively today.

04.01.2026 - PSX Stock was up 7.4%

• Phillips 66 reported strong fourth-quarter earnings, exceeding profit estimates and showcasing a significant rebound in U.S. refining margins, driven by high crude capacity utilization and debt reduction.
• The company's proactive portfolio enhancement through acquisitions and dispositions, such as the agreement to purchase assets of the Lindsey Oil Refinery, demonstrates its strategic approach to boosting refining capacity and energy security.
• Despite Principal Financial Group Inc. reducing its stake in Phillips 66, the stock opened at a higher price, reflecting investor confidence in the company's performance and growth prospects.
• By refocusing its portfolio and leveraging lower crude prices to improve refining margins, Phillips 66 aims to sustain profitability and drive shareholder returns amidst evolving market dynamics.

04.01.2026 - PSX Stock was up 5.8%

• Phillips 66 (PSX) experienced a strong bullish movement today following the release of its fourth-quarter earnings, which exceeded profit estimates and showcased robust operational performance.
• The significant rebound in U.S. refining margins, driven by high crude capacity utilization and a reduction in debt, contributed to the company's improved financial results and positive market sentiment.
• The strategic acquisitions, such as the agreement to purchase assets of the Lindsey Oil Refinery in the UK, demonstrate Phillips 66's commitment to enhancing its refining capacity and energy security, further bolstering investor confidence in the company's growth trajectory.
• Despite the reduction in stake by Principal Financial Group Inc. and other hedge funds, the overall market response to Phillips 66's operational achievements and strategic initiatives has been overwhelmingly positive, reflected in the bullish movement of its stock price.

13.04.2025 - PSX Stock was up 5.2%

• Phillips 66 experienced a strong bullish movement today.
• The bullish movement could be attributed to recent developments regarding an activist investor's win in a proxy fight, with a recommendation for changes in the board composition.
• The validation of the case for change and criticism of operating performance and disclosure practices likely boosted investor confidence in potential strategic improvements.
• This development suggests that investors are optimistic about the prospect of strategic changes at Phillips 66, contributing to the bullish market movement.

05.00.2026 - PSX Stock was down 0.5%

• The bearish movement in PSX stock today could be attributed to Phillips 66 Limited's agreement to acquire the assets of Lindsey Oil Refinery and integrate them into its Humber Refinery operations, raising concerns among investors about the potential impact on PSX's financials and operational efficiency.
• Questioning if Valero Energy Stock is too expensive for investors at current levels may have contributed to the bearish sentiment, leading investors to reevaluate their positions in the energy sector, including stocks like PSX.
• The decision to stop standalone operations at the Prax Lindsey oil refinery after the sale to Phillips 66 could have raised uncertainties about the future workforce structure and operational synergies, possibly leading to a negative outlook on PSX's stock performance in the short term.
• Overall, the market's reaction to these developments suggests that investors are cautious about the implications of the acquisition on Phillips 66 Limited's business outlook and the broader energy sector, resulting in the bearish movement in PSX stock.

16.11.2025 - PSX Stock was down 5.1%

• Despite unveiling a robust $2.4 billion capital spending plan for 2026, with a focus on growth projects and enhancing profitability, the stock saw a bearish trend.
• The reiteration of an Outperform rating by BMO Capital and positive outlook from other firms like UBS and Piper Sandler did not seem to offset the downward movement.
• The acquisition of a significant number of shares by Geneos Wealth Management Inc. might have indicated confidence in the company, but it did not prevent the bearish market movement.
• The bearish movement could be attributed to broader market conditions, profit-taking by investors following recent gains, or potential concerns about the company's high dividend payout ratio despite surpassing earnings expectations.

22.07.2025 - PSX Stock was up 4.3%

• The bullish movement in PSX could be attributed to the reduced gasoline output at its Bayway refinery in New Jersey.
• The production outage at a key unit might have led investors to anticipate a potential increase in gasoline prices, hence driving up the stock price.
• This incident highlights the vulnerability of oil and gas companies to operational disruptions, which can have a significant impact on their stock performance.

21.04.2025 - PSX Stock was down 6.4%

• The bearish movement in PSX stock today could be attributed to external factors prompting for change within the company, potentially causing uncertainty among investors.
• The announcement of the divestment of a majority stake in its European fuel retail unit could have also contributed to the negative sentiment, as it indicates a shift in the company's strategic focus.
• The increased stake of a particular entity in Phillips 66, as well as their efforts to drive positive change through new director nominees, might have created some short-term volatility in the stock as investors assess the potential impact of these developments.
• Overall, the market reaction to recent events suggests that investors are closely monitoring the company's strategic decisions and potential changes in leadership, leading to the bearish movement in the stock today.

29.09.2025 - PSX Stock was up 0.8%

• Phillips 66 has shown impressive outperformance over the past 5 years, with an average annual return of 22.75%, which likely contributed to today's bullish movement.
• Anticipation surrounding the upcoming Q3 earnings, especially with factors like softer crude prices and steady midstream income, may have boosted investor confidence in the company's refining-driven performance.
• The positive market sentiment towards Phillips 66's strong historical performance and the potential for robust Q3 results could have been key drivers behind today's bullish movement in the stock.

08.00.2026 - PSX Stock was up 5.0%

• The positive movement in PSX stock may be linked to the company's recent acquisition of the Lindsey Oil Refinery assets in the U.K., expected to increase fuel production capacity and generate more cash flow.
• Investor sentiment could have been influenced by the company's expansion into cleaner fuels and the integration of acquired refinery assets into its operations, demonstrating a dedication to energy security and sustainability.
• Speculation regarding Venezuelan oil imports, a notable increase in U.S. fuel inventories affecting the refining sector, and Valero Energy's stock surge might have bolstered the industry sentiment, thereby lifting PSX's stock performance.

23.09.2025 - PSX Stock was up 5.1%

• Despite a recent -1.33% decline in the stock price, there is optimism surrounding Phillips 66's upcoming earnings.
• The expected earnings growth could be the driving force behind today's bullish movement in PSX.
• Positive reactions from investors to the company's strategies or market expectations may be influencing the stock's upward trend.
• The general market sentiment towards energy firms and the sector's performance could also be playing a role in the stock's bullish movement.