Phillips 66 (PSX) — Insiders and Activists Align on This Refining Giant’s Next Move
Phillips 66 (NYSE: PSX) is quietly shaping up to be one of the more compelling opportunities in the energy sector right now. The stock trades around $140, up roughly 20% year to date, yet still trailing its top peers — a gap that could soon close.
Over the summer, four company directors bought $1.24 million worth of PSX shares on the open market. Insider buying like that tends to send a strong message: those closest to the business see value the market hasn’t fully recognized yet.
Adding weight to that conviction, Elliott Management — one of Wall Street’s most successful activist hedge funds — has built a multibillion-dollar stake and already captured two board seats. Elliott’s “Streamline 66” campaign calls for sharper execution, strategic divestitures, and stronger capital discipline. The firm believes these moves could unlock significant shareholder value and lift PSX to $200 a share, roughly 45% above current levels.
Operationally, the company is trending in the right direction. Refining utilization and yields are rising while costs are falling, and earnings are projected to rebound more than 100% next year — one of the fastest growth rates in the sector. Investors also collect a 3.5% dividend yield while waiting for that upside to play out.
After months of sideways trading, the chart now shows a steady pattern of higher lows, suggesting accumulation is underway. With insiders buying, an activist catalyst in motion, and improving fundamentals, Phillips 66 looks like an energy stock ready to break higher.
