Phillips 66 set for $7B windfall from soaring refining margins amid global supply issues

Phillips 66 is poised to gain over $7 billion through 2027 thanks to elevated refining margins driven by global supply disruptions and conflict in Iran. Refining margins have surged to $10.11 per barrel, with crack spreads near $60, boosting profitability significantly. The company is also improving operations and cutting costs, supporting strong shareholder returns and faster debt reduction. The analyst maintains a Buy rating with a raised 2026 EPS estimate of $17.50 and a 12-month price target of $190.