Barclays Raises Phillips 66 (PSX) Target to $158, Keeps Equal Weight Rating

Phillips 66 (NYSE:PSX) is one of the 10 Best Stocks to Buy According to Elliott Investment Management.

On February 20, 2026, Barclays raised the price target on Phillips 66 (NYSE:PSX) from $142 to $158 while maintaining an Equal Weight rating. Earlier, on February 4, 2026, Phillips 66 (NYSE:PSX) reported its earnings results for the fourth quarter and full year 2025, highlighting earnings of $2.9 billion, or $7.17 per share, and an adjusted EBITDA of $1 billion, or $2.47 per share, for the quarter. In the earnings call, while responding to questions from Barclays analyst Theresa Chen, the company dismissed concerns that new Permian gas pipelines will disrupt ethane recovery. The company anticipates ethane pricing to remain competitive to meet Gulf Coast demand and to support its upcoming Golden Triangle project in 2027.

In a separate event, on February 19, 2026, Phillips 66 (NYSE:PSX)’s Executive Vice President Don Baldridge sold 7,500 shares of the company’s stock in a transaction valued at $1,200,000.

Phillips 66 (NYSE:PSX), spun off from ConocoPhillips in 2012, is a major integrated downstream energy company with headquarters in Texas.

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