Phillips 66 reported strong Q2 2026 results with increased sales, revenue, and earnings, alongside progress on its US$5 billion Western Gateway Pipeline project. The company has seen significant share price appreciation, with a 95.47% total shareholder return over the past year. While some analysts view PSX as overvalued based on current pricing against fair value estimates, Simply Wall St's DCF model suggests a much higher fair value, indicating potential for significant upside.
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