PSX · News · 20260806N

Capital Return Program

Phillips 66 · 2026-08-06 · Importance 58 · Surprise 42

Phillips 66 expanded its share-repurchase authorization by $10 billion, bringing the total authorization to $23 billion. The company returned $887 million to shareholders through dividends and stock repurchases during the second quarter of 2026. Phillips 66 also declared a quarterly dividend of $1.27 per share. Management plans to increase share repurchases during the second half of 2026 as net debt approaches its target.

Key facts

• TD Cowen raised its price target for Phillips 66 to $255 from $240 and noted net debt approaching target levels enabling a significant buyback in the second half of 2026. source