$PSX

Phillips 66 (PSX), Target (TGT), and Wells Fargo (WFC) paid dividends on September 1, 2026. Target and Wells Fargo raised their rates, with Wells Fargo increasing its quarterly dividend by 11% to $0.50 per share. Phillips 66's shares surged 97% year-to-date, reporting Q2 EPS of $9.41, exceeding expectations. Target's Q2 EPS was $4.11 on revenue of $26.54B, while Wells Fargo returned $5.4B to shareholders in Q1 2026.

Piper Sandler raised Chevron's (CVX) price target to $243, the highest on Wall Street, citing stronger crude and refining margins. The firm also increased its Brent price forecasts and refining crack spread estimates. Piper kept its overweight rating on CVX and raised targets for other integrated oil and refiner companies, including BP, MPC, PSX, SHEL, TTE, VLO, and XOM.

Venezuela's oil exports rebounded to 800,000 barrels per day in January 2026, with the U.S. as the largest destination. Chevron, Vitol, and Trafigura played key roles in marketing and exporting. U.S. imports from Venezuela rose to 471,000 bpd by May, primarily to Gulf Coast refineries. The U.S. government controls proceeds from oil sales, routing them through specific Treasury accounts.

Par Pacific (PARR) reduced debt by $220M in Q2 2026, boosting liquidity to $1.4B. It plans growth via refining, logistics, and renewable projects. Devon Energy (DVN) and Phillips 66 (PSX) also strengthened balance sheets, targeting growth. PARR's stock rose 126.1% year-over-year, trading at 3.36X EV/EBITDA, below industry average 5.48X. Analysts maintain earnings estimates, rating PARR a Strong Buy.

Wells Fargo raised its price target on Phillips 66 to $335 from $239, maintaining an overweight rating. The stock was trading at $246.58, up 1.05% in pre-market. The adjustment reflects positive analyst sentiment on the company's prospects.

Goldman Sachs reports that DK secured full exemptions for its refineries, potentially boosting cash flow by over 20% of its market cap. PARR, CVI, and CLMT also received exemptions, while larger companies like CVX, CVE, MPC, and PSX saw more moderate impacts.

U.S. energy stocks rose in premarket trading Monday, following a 3.5% increase in oil prices due to U.S.-Iran strikes in the Strait of Hormuz. Chevron (CVX) gained 1.7%, Exxon Mobil (XOM) rose 1.5%, and other energy firms also saw gains. The conflict has disrupted oil supply and raised tensions in the region.

California's proposed tax credit for sustainable aviation fuel (SAF) could raise gas and diesel prices, reduce road funding, and deliver limited carbon reductions, according to UC Berkeley researchers. The credit, part of Gov. Newsom's budget, primarily benefits Phillips 66's Rodeo Renewable Energy Complex. Critics, including the Legislative Analyst’s Office, warn of higher costs and minimal climate gains. The state estimates the proposal could cost $165M–$300M, but this figure may be higher. On

Venezuela has been the second-largest source of US crude oil imports for 18 consecutive weeks, according to the US Energy Information Administration. In the week ending 21 August 2026, Venezuela shipped 662,000 barrels per day, behind Canada's 3.53 million bpd. Major US refiners, including Valero, Chevron, and Citgo, are purchasing Venezuelan crude, which is heavy and sour, suitable for Gulf Coast refineries. The trade is legal under US Treasury licenses issued in 2026, but risks include potenti

Fossil fuel companies spent $17M lobbying in California during the first half of 2026, opposing climate and worker-safety legislation. Chevron and Phillips 66 were among the top spenders, targeting bills on emissions, worker transitions, and safety. Chevron reported $12B in Q2 profits, while Exxon Mobil earned $14.5B, driven by supply disruptions.