Phillips 66 declares $1.27 quarterly dividend payable Sept 1

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Reviewed by
Suketu GScanX News Team
Key Highlights

Phillips 66 declared a quarterly dividend of $1.27 per share on its common stock, payable on Sept. 1, 2026. Shareholders of record as of the close of business on Aug. 18, 2026, will receive the payment. The company operates as an integrated downstream energy provider with a diverse portfolio including Midstream, Chemicals, and Refining businesses.

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Phillips 66 has declared a quarterly dividend of $1.27 per share on its common stock, providing income returns to shareholders. The dividend is payable on Sept. 1, 2026, to shareholders of record as of the close of business on Aug. 18, 2026. This announcement confirms the company's commitment to returning capital to its investors.

Key Dividend Details

The board of directors of Phillips 66 approved the dividend, which applies to the company's common stock. The schedule for the distribution is outlined below.

Event Date
Record Date Aug. 18, 2026
Payment Date Sept. 1, 2026

About Phillips 66

Phillips 66 is a leading integrated downstream energy provider that manufactures, transports, and markets products that drive the global economy. The company’s portfolio includes Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels businesses. Headquartered in Houston, TX, the company employs staff globally who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future.

How will Phillips 66's capital allocation strategy balance shareholder returns with investments in its lower-carbon initiatives?

What impact could fluctuating refining margins have on the sustainability of this dividend level through 2026?

Is the company considering increasing its share repurchase program alongside this dividend commitment?

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TD Cowen raises Phillips 66 target to $220

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Reviewed by
Radhika SScanX News Team
Key Highlights

TD Cowen analyst Jason Gabelman maintained a Buy rating on Phillips 66 (NYSE: PSX) and raised the price target to $220 from $213, indicating a positive outlook.

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TD Cowen analyst Jason Gabelman has maintained a Buy rating on Phillips 66 (NYSE: PSX) and raised the price target to $220 from $213. The adjustment reflects a revised outlook on the company's valuation and market performance.

Rating and Price Target Details

The firm's endorsement of Phillips 66 comes with a specific price objective that suggests potential upside from current trading levels. The new target of $220 represents an increase from the previous estimate of $213.

Metric Value
Rating Buy
Previous Price Target $213
New Price Target $220
Exchange NYSE
Ticker PSX

Phillips 66 operates in the energy sector, engaging in the manufacturing and marketing of chemicals and products derived from petroleum.

What specific factors drove the revision of Phillips 66's valuation and market performance outlook?

How might Phillips 66's performance be impacted by fluctuating oil prices in the coming months?

What are the potential risks or challenges that could hinder Phillips 66 from reaching the new $220 price target?

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