Raymond James raises Phillips 66 target to $235

0 min read | Published on 10 Jul 2026, 03:31 AM |Updated on 13 Jul 2026, 10:31 PM

Reviewed by

Radhika SScanX News Team

Key Highlights

Raymond James analyst Justin Jenkins maintained an Outperform rating on Phillips 66, raising the price target to $235 from the previous $218. The update reflects a revised valuation outlook for the NYSE-listed energy company.

*this image is generated using AI for illustrative purposes only.

Raymond James analyst Justin Jenkins has maintained an Outperform rating on Phillips 66 and increased the price target to $235 from the previous $218. This adjustment signals a more optimistic valuation outlook for the energy company.

Phillips 66 is listed on the NYSE under the ticker symbol PSX. The rating update provides investors with a new reference point for the stock's potential performance.

The following table details the revised analyst guidance:

Metric	Value
Rating	Outperform
Previous Price Target	$218
New Price Target	$235

The price target increase suggests a stronger confidence in the company's future share price trajectory.

What specific operational or market factors drove Raymond James to raise the price target by $17?

How might Phillips 66's refining margins be impacted by fluctuating global crude oil prices in the coming quarters?

Could this price target revision trigger similar rating adjustments from other major analysts covering the energy sector?

Phillips 66 declares $1.27 quarterly dividend payable Sept 1

0 min read | Published on 10 Jul 2026, 12:42 AM |Updated on 10 Jul 2026, 12:42 AM

Reviewed by

Suketu GScanX News Team

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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?