TD Cowen raises target for Phillips 66 stock from USD 295 to USD 308

Published on 10/23/2026 at 10:54 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Phillips 66 lifted its quarterly dividend to USD 1.33 on October 16, 2026. Phillips 66 stock costs EUR 254.10 on October 23, 2026 before October 28 results.

Analyst target and payout

TD Cowen lifted its Phillips 66 target from USD 295 to USD 308 on October 22, 2026.
Phillips 66 declared a USD 1.33 quarterly dividend on October 16, 2026.
Phillips 66 stock trades at EUR 254.10 at 10:42 a.m. CEST at Lang & Schwarz on October 23, 2026.

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Phillips 66 (ISIN US7185461040) is facing a USD 308 price target from TD Cowen, up from USD 295. According to Markets Insider on October 22, 2026, analyst Jason Gabelman kept a Buy rating while citing higher crude flows and limited product flows from the Middle East.

Target rises as results near

The target increase came with a clear counterpoint. TD Cowen said diesel prices were struggling to move higher, which could narrow refining margins if crude flows increase faster than product prices.

BofA also raised its target to USD 303 from USD 265 on October 21, 2026, while keeping a Neutral rating, according to Markets Insider. Its note cited higher refining margins and natural gas prices but warned that supply disruptions elsewhere may not be fully offset by expected capacity growth.

What does the payout signal?

Phillips 66 declared a quarterly dividend of USD 1.33 per share on October 16, 2026, an increase of USD 0.06. The payment is scheduled for December 1, 2026, for shareholders of record on November 17, 2026, according to the company release from Phillips 66. The company said this was its second dividend increase in 2026.

Three recent company events

On October 8, 2026, Mizuho Securities cut its rating to Neutral from Outperform while raising its target to USD 300 from USD 220, as reported by El Fondo. On October 16, 2026, Phillips 66 raised its quarterly dividend to USD 1.33. On October 22, 2026, TD Cowen raised its target to USD 308 from USD 295.

Dates investors can track

Phillips 66 is scheduled to report third-quarter 2026 results before the market opens on October 28, 2026, with consensus estimates of USD 12.07 in earnings per share and USD 43.00 billion in revenue, according to El Fondo. The dividend record date is November 17, 2026.