BofA raises target for Phillips 66 stock to USD 303 from USD 265

Published on 10/22/2026 at 11:51 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

BofA lifted the target to USD 303 from USD 265 on October 21, 2026. Phillips 66 stock costs EUR 261.20 on October 22, 2026, ahead of October 28 results.

Target, earnings and dividend

BofA raised its Phillips 66 target from USD 265.00 to USD 303.00 on October 21, 2026.
Phillips 66 reported USD 3.85 billion in second-quarter net income on August 5, 2026.
Phillips 66 stock traded at EUR 261.20 at 11:43 a.m. CEST at Lang & Schwarz on October 22, 2026.

Architektur-Render eines modernen gläsernen Firmensitzes mit Plaza und minimalistischem Design — Phillips 66 (US7185461040) repräsentiert dieser moderne gläserne Firmensitz-Komplex mit Plaza und minimalistischer Architektur, Illustration mit AI erstellt.

Phillips 66 (ISIN US7185461040) was trading at EUR 261.20 at Lang & Schwarz on October 22, 2026 at 11:43 a.m. CEST. According to Markets Insider on October 21, 2026, BofA raised its price target for Phillips 66 from USD 265.00 to USD 303.00 and kept a Neutral rating.

Recent figures reset the valuation

Phillips 66's second-quarter results remain the financial anchor for the target revision. The company reported USD 3.85 billion in net income and USD 9.55 in diluted earnings per share for the quarter ended June 30, 2026, compared with USD 207.0 million in net income in the first quarter.

Zacks reported that Phillips 66's second-quarter refining margin reached USD 24.08 per barrel, up from USD 10.11 per barrel in the first quarter. Total debt fell to USD 20.6 billion from USD 27.1 billion, while net debt stood at USD 16.5 billion.

Three dated developments

On August 5, 2026, Phillips 66 reported its second-quarter earnings of USD 3.85 billion, or USD 9.55 per diluted share, according to Zacks. On October 16, 2026, the board raised the quarterly dividend to USD 1.33 per share from USD 1.27, according to the Phillips 66 release.

On October 21, 2026, BofA lifted its target to USD 303.00 from USD 265.00 while retaining a Neutral rating, as Markets Insider reported.

What dates matter next?

Phillips 66 is scheduled to report third-quarter 2026 results on October 28, 2026, before the market opens, according to MetaCap. The dividend record date is November 17, 2026, and the USD 1.33 payment is scheduled for December 1, 2026, according to the Phillips 66 release.

Stock price and investor context

The immediate question is whether the refining improvement can carry into the third quarter. Phillips 66's second-quarter operating cash flow reached USD 7.26 billion, while its market capitalization was USD 116.3 billion as of October 21, 2026. Those figures place balance-sheet repair alongside the refining cycle in the valuation debate.

Phillips 66 was trading at EUR 261.20 at Lang & Schwarz on October 22, 2026 at 11:43 a.m. CEST.

The further course of trading is shown by the continuously updated real-time quote of Phillips 66 stock.