PSX trades 18.2% below Wall Street's consensus target of $290.50.
Last 12 months price action with 12-month analyst target path
The base valuation assumes PSX achieves its forward estimates and maintains a stable P/E multiple of 7.3x. This scenario reflects the blended consensus of 35 Wall Street analysts, balancing both positive catalysts and macroeconomic headwinds over the next 12 months.
As of November 8, 2026, Phillips 66 (PSX) has a Wall Street consensus price target of $290.50, based on estimates from 35 covering analysts. With the stock currently trading at $245.72, this represents a potential upside of +18.2%. The company has a market capitalization of $98.52B.
Analyst price targets range from a low of $216.00 to a high of $346.00, representing a 45% spread in expectations. The median target of $292.00 aligns closely with the consensus average.
The current analyst consensus rating is Buy, with 19 analysts rating the stock as a Buy or Strong Buy,15 rating it Hold, and 1 rating it Sell or Strong Sell. The positive sentiment balance indicates moderate optimism about the stock prospects.
From a valuation perspective, PSX trades at a trailing P/E of 22.8x and forward P/E of 7.3x. Analysts expect EPS to grow +7.2% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $423.29, with bear and bull scenarios of $266.67 and $557.72 respectively. Model confidence stands at 46/100, suggesting limited visibility into future performance.
| Company | Market Cap | Price | Target | Upside Potential | Rating | Fwd P/E | Analysts |
|---|---|---|---|---|---|---|---|
 VLOValero Energy Corporation | $102.9B | $346.45 | $451.11 | +30.2% | Buy | 5.8x | 38 |
 MPCMarathon Petroleum Corporation | $108.8B | $372.74 | $445.20 | +19.4% | Buy | 5.7x | 33 |
 PBFPBF Energy Inc. | $8.0B | $67.27 | $90.40 | +34.4% | Hold | 2.6x | 27 |
 DKDelek US Holdings, Inc. | $3.9B | $63.95 | $90.14 | +41.0% | Hold | 3.5x | 26 |
 CVXChevron Corporation | $423.4B | $212.61 | $218.25 | +2.7% | Buy | 11.8x | 53 |
 XOMExxon Mobil Corporation | $687.5B | $165.87 | $171.11 | +3.2% | Hold | 12.3x | 55 |
 COPConocoPhillips | $166.0B | $136.27 | $157.00 | +15.2% | Buy | 11.9x | 52 |
 MPLXMPLX Lp | $56.7B | $55.91 | $64.00 | +14.5% | Buy | 13.1x | 28 |
 ENBEnbridge Inc. | $102.4B | $46.89 | $61.63 | +31.4% | Buy | 16.0x | 25 |
 WESWestern Midstream Partners, LP | $16.5B | $39.85 | $49.71 | +24.7% | Hold | 10.7x | 13 |
Quick answers to the most common questions about buying PSX stock.
Phillips 66 (PSX) has a consensus 12-month price target of $290.5, implying 18.2% upside from $245.72. The 35 analysts covering PSX see moderate appreciation potential.
PSX has a consensus rating of "Buy" based on 35 Wall Street analysts. The rating breakdown is predominantly bullish, with 19 Buy/Strong Buy ratings. The consensus 12-month price target of $290.5 implies 18.2% upside from current levels.
With a forward P/E of 7.2687x, PSX trades at a relatively low valuation. The consensus target of $290.5 implies 18.2% appreciation, suggesting meaningful undervaluation.
The most bullish Wall Street analyst has a price target of $346 for PSX, while the most conservative target is $216. The consensus of $290.5 represents the median expectation. Our quantitative valuation model projects a bull case target of $558 based on optimistic growth and margin assumptions. These targets typically reflect 12-month expectations.
PSX is heavily covered by Wall Street, with 35 analysts providing price targets and ratings. Of these, 0 have Strong Buy ratings, 19 have Buy ratings, 15 recommend Hold, and 1 have Sell or Strong Sell ratings. Higher analyst coverage generally indicates greater institutional interest and more reliable consensus estimates.
The 12-month PSX stock forecast based on 35 Wall Street analysts shows a consensus price target of $290.5, with estimates ranging from $216 (bear case) to $346 (bull case). The median consensus rating is "Buy". Our proprietary valuation model produces a base case fair value of $423, with bear/bull scenarios of $267/$558.
Our quantitative valuation model calculates PSX's fair value at $423 (base case), with a bear case of $267 and bull case of $558. The model uses discounted cash flow analysis, historical growth rates, and margin mean-reversion to project FY+2 earnings, then applies an appropriate P/E multiple. The model confidence score is 46/100.
PSX trades at a forward P/E ratio of 7.3x based on next-twelve-months earnings estimates compared to a trailing P/E of 22.8x. The lower forward P/E indicates analysts expect earnings growth. A forward P/E is useful for comparing valuations when earnings are expected to change significantly.
Wall Street analysts are optimistic on PSX, with a "Buy" consensus rating and $290.5 price target (18.2% upside). 19 of 35 analysts rate it Buy or Strong Buy. This information is for educational purposes only. Always conduct your own research, consider your financial situation, and consult a financial advisor before making investment decisions.
PSX analyst price targets range from $216 to $346, a 45% moderate spread showing some variance in outlooks. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $290.5 consensus represents the middle ground. Our model's $267-$558 range provides an independent fundamental perspective.
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