Here is Why Phillips 66 (PSX) Fell This Week

The share price of Phillips 66 (NYSE:PSX) fell by 2.73% between January 9 and January 16, 2026, putting it among the Energy Stocks that Lost the Most This Week.

Phillips 66 (NYSE:PSX) is a leading integrated downstream energy provider that is engaged in refining, transporting, and marketing fuels.

Phillips 66 (NYSE:PSX) surged to a 52-week high earlier this month after investors deemed the company as one of the largest potential beneficiaries from the US action in Venezuela, since its refineries are specifically designed to process heavy sour grade crude like that from the South American country. However, the stock has since witnessed a slight downturn, possibly due to investors taking their profits.

Moreover, on January 13, JPMorgan reduced its price target on Phillips 66 (NYSE:PSX) from $154 to $151, while maintaining an ‘Overweight’ rating on the shares. The revision comes as the firm adjusted its targets for recent commodity prices as part of a Q4 preview.

Similarly, earlier on January 12, Piper Sandler also lowered its price target on Phillips 66 (NYSE:PSX) from $155 to $153, but kept its ‘Neutral’ rating on the shares. The analyst believes US refiners will experience the largest near-term impact from the action in Venezuela. The firm expects the Venezuelan crude volumes arriving in the US to double from the current 200,000 bpd to 400,000 bpd, driven by a combination of US involvement and sanction relief.

While we acknowledge the potential of PSX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.