Phillips 66 (PSX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Phillips 66 has been working to restore investor confidence after a historically bad year in 2020. The company has a clear plan for generating higher earnings and operating cash flow.
After a thorough competitive evaluation, Phillips 66 (PSX) selects Cohesity DataProtect to consolidate its data protection efforts into a single, unified platform.
The latest trading day saw Phillips 66 (PSX) settling at $138.64, representing a +1.26% change from its previous close.
Phillips 66 stock has declined by 23% since April due to concerns about the refining cycle and relative valuation. Despite recent weakness, Phillips 66 is the most diversified of the three large US refiners, aiming to generate the majority of EBITDA away from refining. Recent performance has been impacted by narrowing crack spreads, but signs of improvement in product demand and the Hurricane Season should support wider spreads.
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Phillips 66's (PSX) Rodeo refinery in California uses lower carbon intensity feedstocks, which are processed via new pre-treatment units to convert them into renewable fuels.
The latest trading day saw Phillips 66 (PSX) settling at $139.40, representing a -0.27% change from its previous close.
The latest trading day saw Phillips 66 (PSX) settling at $138.09, representing a +0.09% change from its previous close.
Phillips 66 (NYSE:PSX ) J.P. Morgan 2024 Energy, Power & Renewables Conference June 18, 2024 10:55 AM ET Company Participants Mark Lashier - Chairman & CEO Conference Call Participants John Royall - J.P.
Phillips 66's (PSX) sale of its equity interest in the Rockies Express Pipeline is part of its commitment to deliver a value of more than $3 billion from asset divestitures.
Phillips 66 has an impressive portfolio of assets with growth drivers such as renewable energy and DCP midstream. Refineries are a remarkably volatile market, but the company is still targeting strong growth in its mid-cycle EBITDA. Overall, Phillips 66 is a valuable investment with a strong ability to pay dividends and repurchase shares.