Energy company Phillips 66 (PSX) saw its stock slip on Friday following the release of its Q4 2024 earnings report. That includes an adjusted per-share loss of 15 cents, much worse than the 3-cent loss Wall Street predicted. It’s also a negative switch from the $3.09 per share reported in Q4 2023. The company says its earnings were negatively impacted by $230 million due to a pre-tax accelerated depreciation of its Los Angeles Refinery.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Another blow to PSX stock comes from Phillips 66’s adjusted EPS of $6.15 in 2025. That’s another miss compared to analysts’ estimate of $6.21 per share. It also represents a 61.1% decrease year-over-year compared to EPS of $15.81.
Investors aren’t pleased with these results, causing PSX stock to drop 2.14% in pre-market trading today. That follows a 1.08% decrease yesterday and eats away at Phillips 66’s 6.07% year-to-date gain. It also bears mentioning that PSX shares are down 14.26% over the past 52 weeks.
What Next for PSX Stock?
Phillips 66 outlined its goals through 2027 in its latest earnings report. It expects to return over 50% of operating cash flow to shareholders, achieve crude utilization 2% higher than the industry average, grow Midstream and Chemicals mid-cycle adjusted EBITDA to $1 billion in total by 2027, and reduce its debt to $17 billion.
Is PSX Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Phillips 66 is Moderate Buy based on eight Buy and five Hold ratings over the last three months. With that comes an average price target of $137.92, a high of $161, and a low of $115. This represents a potential 14.13% upside for PSX stock. These ratings and price targets will likely change as analysts update their coverage after today’s earnings report.
