Fintel reports that on April 24, 2026, Morgan Stanley upgraded their outlook for Phillips 66 (NYSE:PSX) from Equal-Weight to Overweight.
Analyst Price Forecast Suggests 10.91% Upside
As of April 16, 2026, the average one-year price target for Phillips 66 is $180.62/share. The forecasts range from a low of $135.90 to a high of $223.65. The average price target represents an increase of 10.91% from its latest reported closing price of $162.85 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Phillips 66 is 108,238MM, a decrease of 18.23%. The projected annual non-GAAP EPS is 6.78.
What is the Fund Sentiment?
There are 1,995 funds or institutions reporting positions in Phillips 66. This is an decrease of 639 owner(s) or 24.26% in the last quarter. Average portfolio weight of all funds dedicated to PSX is 0.17%, an increase of 37.13%. Total shares owned by institutions decreased in the last three months by 12.63% to 308,559K shares. 
The put/call ratio of PSX is 0.88, indicating a bullish outlook.
What are Other Shareholders Doing?
Elliott Investment Management holds 19,251K shares representing 4.80% ownership of the company. No change in the last quarter.
Wells Fargo holds 14,153K shares representing 3.53% ownership of the company. In its prior filing, the firm reported owning 15,104K shares , representing a decrease of 6.72%. The firm decreased its portfolio allocation in PSX by 14.84% over the last quarter.
Harris Associates L P holds 13,978K shares representing 3.49% ownership of the company. In its prior filing, the firm reported owning 13,640K shares , representing an increase of 2.42%. The firm decreased its portfolio allocation in PSX by 25.13% over the last quarter.
Geode Capital Management holds 10,414K shares representing 2.60% ownership of the company. In its prior filing, the firm reported owning 10,368K shares , representing an increase of 0.44%. The firm decreased its portfolio allocation in PSX by 7.80% over the last quarter.
Bank of New York Mellon holds 7,104K shares representing 1.77% ownership of the company. In its prior filing, the firm reported owning 8,514K shares , representing a decrease of 19.86%. The firm decreased its portfolio allocation in PSX by 22.28% over the last quarter.
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