Phillips 66 (PSX) Outperforms Market on Refining Margin Optimism

Phillips 66 shares rose 1.07% to $189.82 on Tuesday, outpacing the broader market. The S&P 500 gained 0.4% on the same session.

Zacks analysts said the refiner is positioned to benefit from lower crude costs. The company's refining margins have held up as input prices fall, they noted. The stock carries an Alpha Score of 61 out of 100 from AlphaScala, a Moderate rating that reflects solid earnings momentum and valuation. See the PSX stock page for the full profile.

Phillips 66 declared a quarterly dividend of $1.27 a share, yielding 2.68% at the current price. The dividend is payable March 3 to shareholders of record Feb. 18, according to the company. For more details, see Phillips 66 Declares $1.27 Dividend, Yield 2.68%.

Zacks ranks the stock a Buy, one of the firm's top picks in the energy sector. The rating reflects the view that lower crude costs will continue to support refining margins. The spread between crude oil and refined product prices remains wide, a dynamic that tends to benefit integrated refiners like Phillips 66. See the crude oil profile for the latest on oil prices.

The stock now trades at $189.82, up 1.07% on the session. The dividend yield stands at 2.68%.