Phillips 66 (PSX) Stock Sinks As Market Gains: Here's Why
The latest trading day saw Phillips 66 (PSX) settling at $124.06, representing a -0.23% change from its previous close.
Phillips 66: Refining Crack Spreads Have Recovered And Chemical Margins Are Not Far Behind
The recovery in the refining sector is under way after the first closure of 2025 and unexpected downtime at competitor PBF's Martinez refinery. Closure announcements in the European petrochemical industry are occurring at a rapid rate as companies exit the structurally disadvantaged market. Phillips 66's chemicals business is positioned to benefit through margin expansion and increased market share following the industry decline in Europe.
Phillips 66 director criticizes activist investor Elliott amid proxy battle
Phillips 66's independent director, Bob Pease, defended the company's performance and criticized Elliott Investment Management on Friday, as a boardroom battle between the U.S. refiner and the activist investor intensified.
Goldman Sachs Shifts Oil Sector Outlook: Par Pacific Set For Rebound, Phillips 66 Faces Challenges
Goldman Sachs analyst Neil Mehta revised the rating and updated estimates on Thursday for several major American oil companies.
Elliott Management Applies Pressure With Phillips 66 Board Fight
Phillips 66 has underperformed compared to peers, with chronic issues in its Refining Segment and large investments in underperforming global pet-chem plants. Earlier this month, activist investor Elliott Management nominated seven directors to PSX's board and is lobbying to spin-off PSX's Midstream Segment to unlock shareholder value. PSX's Midstream Segment has shown strong growth and is its most consistent well-performing segment, enabling robust dividend growth since going public.
Phillips 66 Nominates Two Directors as Battle With Activist Investor Elliott Continues
Oil refiner Phillips 66 (PSX) said Wednesday it is nominating two new directors to its board, as its proxy fight with activist Elliott Investment Management continues.
Phillips 66 to Propose New Board Members Amid Elliott Battle
The activist investor has pushed the oil refiner to sell or spin off its midstream business.
Activist Elliott Sues Phillips 66 and Board in Another Push for Seat Changes
Activist investor Elliott Investment Management filed a lawsuit against Phillips 66 and its board of directors to require four board seats be up for election at the oil refiner's next annual shareholder meeting.
Elliott sues Phillips 66 to order nomination of four board members
Elliott Investment Management said on Tuesday it had filed a lawsuit in the Court of Chancery of the State of Delaware against refiner Phillips 66 and its Board of Directors, seeking an order that would require four board seats to be up for election at Phillips' 2025 Annual Meeting of Shareholders.
Phillips 66 (PSX) Ascends But Remains Behind Market: Some Facts to Note
In the closing of the recent trading day, Phillips 66 (PSX) stood at $126.47, denoting a +0.78% change from the preceding trading day.
Is Phillips 66 Stock a Buy? Analysts Weigh In.
Explore the exciting world of Phillips 66 (PSX -0.21%) with our expert analysts in this Motley Fool Scoreboard episode. Check out the video below to gain valuable insights into market trends and potential investment opportunities!
Phillips 66 Confirms Los Angeles Refinery Shutdown by October
PSX to shut its LA refinery by October, raising concerns about fuel supply and price spikes in California amid strong seasonal demand and refinery maintenance.
