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Phillips 66 PSX Stock Quote

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Phillips 66 Increases Shareholder Returns as Debt Continues to Fall

Allen Good, CFA Sector Strategist

Business Strategy and Outlook

| Allen Good, CFA |

While primarily an independent refiner, Phillips 66 also holds interests in marketing, chemical, and midstream assets that boast higher historical returns, add earnings stability, and differentiate the firm from its peers. The performance of its refining segment will largely determine Phillips 66's near-term fate. Over time, however, heavy investment in the midstream and chemical segments will increase those segments' importance.

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Key Statistics PSX

Company Profile PSX

Business Description

Phillips 66 is an independent refiner with 12 refineries that have a total crude throughput capacity of 2.0 million barrels per day, or mmb/d, after converting its 255 mb/d Alliance refinery to a terminal. The midstream segment comprises extensive transportation and NGL processing assets. It also includes its DCP Midstream joint venture, which holds 45 natural gas processing facilities, 11 NGL fractionation plants, and a natural gas pipeline system with 58,000 miles of pipeline. Its CPChem chemical joint venture operates facilities in the United States and the Middle East and primarily produces olefins and polyolefins.

2331 CityWest Boulevard
Houston, TX, 77042
T +1 281 293-6600
Sector Energy
Industry Oil & Gas Refining & Marketing
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 14,000

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