Phillips 66 Cost Cuts Draw Investor Focus Amid Valuation Dispute
Phillips 66 is back on investors’ radar after reporting second-quarter 2026 refining controllable costs of about $5.57 per barrel, close to its $5.50 2027 goal. The stock’s strong recent run contrasts with bear concerns that revenue and net income fell, alongside an overvalued framing versus a $207.53 fair-value estimate and a wide analyst target range.