Phillips 66 (PSX)
NYSEEnergyOil & Gas Refining & MarketingSnapshot 2026-07-07
$178.86+0.86%
Close 2026-07-07 · 1-day change
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Track PSX free→Phillips 66 plans to spend $2.4 billion on growth in 2026. It is expanding midstream capacity with new projects. Earnings beat estimates in recent quarters. Profit margins should stay stable despite some market challenges.
Earnings may be volatile due to disruptions in the Hormuz region. Capital spending progress is mixed and may slow growth. The sector faces headwinds that could hurt profits.
The price is about 10% above our fair value near $162. Analysts expect about 4% revenue growth. Our fair value is below the Street median, so the market may be optimistic.
Breaks if: capital expenditures fall significantly below $2.4 billion in 2026
Phillips 66 has committed to a capital budget of $2.4 billion for 2026, focusing on sustaining and organic growth capital.
Stated in 2 of last 2 quarters. Capital expenditures were $582M in 2026-Q1, indicating progress towards the $2.4 billion budget. The allocation is ongoing, with a focus on sustaining and growth capital.
Breaks if: EPS falls below $17.9 in FY26
Breaks if: Significant margin losses due to Hormuz disruptions
Breaks if: Delays or cancellations of key midstream expansion projects
Standing thesis, reviewed periodically — not a price target or advice.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
“Announced 2026 capital budget of $2.4 billion, including $1.1 billion for sustaining capital and $1.3 billion for organic growth capital.”
“Our capital budget for 2026 is set at $2.4 billion.”