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Phillips 66 (PSX) is a U.S. downstream energy company engaged in refining, midstream operations, chemicals, renewable fuels, and marketing and specialty businesses. Formed in 2012 following the spin-off from ConocoPhillips, the company operates an extensive network of refineries, pipelines, terminals, and retail fuel distribution assets serving customers worldwide. Phillips 66 is headquartered in Houston and has a market cap of around $70.7 billion.

The leading downstream energy provider is expected to announce its fiscal second-quarter earnings on Wednesday, Aug. 5, 2026. Ahead of the event, analysts expect PSX to report a profit of $6.99 per share, up 193.7% from $2.38 per share in the year-ago quarter. The company beat the consensus estimates in each of the last four quarters.

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For the full year, analysts expect PSX to report EPS of $19.27, up 199.2% from $6.44 in fiscal 2025. However, its EPS is expected to decline 2.9% year-over-year (YOY) to $18.72 in fiscal 2027. 

PSX stock has outperformed the S&P 500 Index's ($SPX) 19.2% gains over the past 52 weeks, with shares up 39.5% during this period. Also, it outperformed the State Street Energy Select Sector SPDR ETF's (XLE) 22.4% gains over the same time frame.

Phillips 66 reported its first-quarter 2026 results on Apr. 29, with adjusted earnings per share improving to $0.49 from a loss of $0.90 per share in the prior-year quarter. Phillips 66 shares rose about 5.1% on Apr. 29 and 3.3% in the next trading session as investors cheered the better-than-expected EPS.

Analysts' consensus opinion on PSX stock is moderately bullish, with a "Moderate Buy" rating overall. Out of 19 analysts covering the stock, 10 advise a "Strong Buy" rating, two suggest a "Moderate Buy," six give a "Hold," and one recommends a "Strong Sell."  PSX's mean price target of $195.53 suggests an upside potential of 10.8%.

On the date of publication, Subhasree Kar did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com