Phillips 66 falls as crude oil drops sharply on U.S.-Iran deal optimism

Phillips 66 (PSX) is down 3.0% today. Here is some analysis on what might have caused this price movement.

Analysis: The drop appears tied to a broad move lower in U.S. energy stocks after crude oil prices slid on news of a tentative U.S.-Iran deal that could reduce supply disruption risk around the Strait of Hormuz. Even though refiners can sometimes benefit from lower crude input costs, the sector often sells off in sympathy with oil on sudden headline-driven moves.

Details:

Crude prices fell more than 4% after announcements around a U.S.-Iran agreement that could allow oil flows to normalize again, removing some of the recent “risk premium” in prices.

Energy equities broadly traded lower following the oil move, suggesting PSX’s decline was sector-driven rather than company-specific.

Phillips 66’s recent filings emphasize how earnings are sensitive to refining margins (“crack spreads”), which can swing quickly when crude and product markets reprice on geopolitical headlines.

This could also reflect positioning after prior strength in refiners during the earlier oil shock, with investors locking in gains as the perceived supply-risk outlook improved.

Sources:

Associated Press, CBS News, SEC (EDGAR)

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$PSX Insider Trading Activity

$PSX insiders have traded $PSX stock on the open market 10 times in the past 6 months. Of those trades, 2 have been purchases and 8 have been sales.

Here’s a breakdown of recent trading of $PSX stock by insiders over the last 6 months:

BRIAN MANDELL (Executive Vice President) sold 42,800 shares for an estimated $7,255,755
KEVIN J MITCHELL (Exec. VP and CFO) has made 0 purchases and 3 sales selling 37,429 shares for an estimated $6,622,013.
VANESSA ALLEN SUTHERLAND (EVP, GC and Secretary) has made 0 purchases and 2 sales selling 8,788 shares for an estimated $1,296,230.
DON BALDRIDGE (Executive Vice President) sold 7,500 shares for an estimated $1,200,000
LISA ANN DAVIS sold 3,800 shares for an estimated $662,617
KEVIN OMAR MEYERS has made 2 purchases buying 350 shares for an estimated $60,606 and 0 sales.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$PSX Hedge Fund Activity

We have seen 986 institutional investors add shares of $PSX stock to their portfolio, and 907 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

HARRIS ASSOCIATES L P removed 4,844,064 shares (-34.7%) from their portfolio in Q1 2026, for an estimated $882,491,579
GOLDMAN SACHS GROUP INC added 3,500,866 shares (+157.5%) to their portfolio in Q1 2026, for an estimated $637,787,767
M&T BANK CORP added 2,243,268 shares (+462.9%) to their portfolio in Q4 2025, for an estimated $289,471,302
STATE STREET CORP added 2,183,303 shares (+9.3%) to their portfolio in Q1 2026, for an estimated $397,754,140
AMUNDI added 1,403,493 shares (+62.0%) to their portfolio in Q1 2026, for an estimated $255,688,354
BLACKROCK, INC. added 1,105,250 shares (+3.6%) to their portfolio in Q1 2026, for an estimated $201,354,445
HOLOCENE ADVISORS, LP removed 991,550 shares (-72.2%) from their portfolio in Q1 2026, for an estimated $180,640,579

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$PSX Government Contracts

We have seen $368,377,711 of award payments to $PSX over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

!DISTILLATE,NAVAL: $16,735,440
8511644070!DISTILLATE,NAVAL: $9,809,563

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard. You can access data on government contracts through the Quiver Quantitative API government contracts endpoint.

$PSX Analyst Ratings

Wall Street analysts have issued reports on $PSX in the last several months. We have seen 0 firms issue buy ratings on the stock, and 1 firms issue sell ratings.

Here are some recent analyst ratings:

Freedom Capital Markets issued a "Sell" rating on 01/06/2026

To track analyst ratings and price targets for $PSX, check out Quiver Quantitative's $PSX forecast page.

$PSX Price Targets

Multiple analysts have issued price targets for $PSX recently. We have seen 12 analysts offer price targets for $PSX in the last 6 months, with a median target of $189.5.

Here are some recent targets:

Erin Wright from Morgan Stanley set a target price of $196.0 on 06/12/2026
Nitin Kumar from Mizuho set a target price of $212.0 on 05/27/2026
Neil Mehta from Goldman Sachs set a target price of $207.0 on 05/20/2026
Betty Zhang from Scotiabank set a target price of $151.0 on 04/22/2026
Vikram Bagri from Citigroup set a target price of $183.0 on 04/09/2026
Ryan Todd from Piper Sandler set a target price of $177.0 on 04/08/2026
Theresa Chen from Barclays set a target price of $177.0 on 04/08/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.