Why the Market Dipped But Phillips 66 (PSX) Gained Today
In the closing of the recent trading day, Phillips 66 (PSX) stood at $120.95, denoting a +1.9% move from the preceding trading day.
Phillips 66 and Activist Elliott Set to Split Heated Boardroom Battle
Elliott had been pushing for four new board seats on the oil refiner's board.
Elliott Announces Shareholders Vote for Change at Phillips 66
Vote Outcome Represents Clear Mandate from Shareholders Newly Elected Directors Sigmund Cornelius and Michael Heim Will Work Constructively with Their Fellow Directors to Help Unlock the Company's Full Value-Creation Potential WEST PALM BEACH, Fla. , May 21, 2025 /PRNewswire/ -- Elliott Investment Management L.P.
Phillips 66 and Activist Elliott Set to Split Heated Boardroom Battle
Elliott had been pushing for four new board seats on oil refiner's board.
Elliott Director Nominees Send Letter to Phillips 66 Shareholders
Independent Director Nominees Brian Coffman, Sigmund Cornelius, Michael Heim and Stacy Nieuwoudt Outline How Their Skills and Experiences Will Drive Positive Change at the Company Intend to Work Constructively with Incumbent Directors to Create Value for All Shareholders Elliott Urges Shareholders to Support Meaningful Board Change By Voting on the Gold Card for Its Four Independent Nominees WEST PALM BEACH, Fla. , May 20, 2025 /PRNewswire/ -- Elliott Investment Management L.P.
Phillips 66 trims portfolio with German and Austria retail sale amid Elliott pressure
Phillips 66 said on Thursday it will sell a 65% stake in its German and Austrian fuel retail business to a private equity-led consortium, valuing the unit at $2.8 billion, as the U.S. refiner streamlines its portfolio under pressure from activist investor Elliott Investment Management.
Elliott Wins Backing from Proxy Advisers in Phillips 66 Boardroom Battle
The activist investor won support from influential proxy advisory firm ISS.
Leading Proxy Advisory Firm ISS Recommends Phillips 66 Shareholders Vote for All Four of Elliott's Director Nominees
ISS Validates Elliott's Case for Change and Recommends Nominees Brian Coffman, Sigmund Cornelius, Michael Heim and Stacy Nieuwoudt Notes Phillips 66's "Disappointing" Operating Performance, "Selective Disclosure, Unverifiable Claims About Various Operational Successes, and Ambiguous and Vague Responses to Otherwise Basic Questions" Cites the Board's "Failure" to Ensure Strong Governance and Board Oversight as Evidence of the Company's "Disconnect from Shareholders" All Three Proxy Advisory Firms – ISS, Glass Lewis and Egan-Jones – Have Now Endorsed Elliott's Case for Change at Phillips 66 WEST PALM BEACH, Fla. , May 12, 2025 /PRNewswire/ -- Elliott Investment Management L.P.
Glass Lewis Recommends Shareholders Support Elliott's Case for Urgent Board Change at Phillips 66
Glass Lewis Recognizes Need for Independent Perspectives in the Phillips 66 Boardroom and Recommends Support for Elliott Director Nominees Brian Coffman, Sigmund Cornelius and Michael Heim Concludes Elliott Has Presented a More Compelling Case By a "Relatively Decisive Margin" and Phillips 66's Underperformance and Poor Governance Should be of "Significant Concern" to Investors Cites Company's "Increasingly Dubious" Commitment to Corporate Governance and "Creative Representation" of the Facts as Further Evidence That Meaningful Change is Needed in the Boardroom Details How Phillips 66's Arguments are "Disconnected from
Phillips 66: Refining Turn & Activist Pressure Create Opportunity
Phillips 66 shares have underperformed, losing about 25% over the past year, due to weak refining margins and macroeconomic challenges. Q1 results were weak, with a $0.90 loss per share, but turnaround work should improve margins and throughput in the near term. The company is reducing debt and focusing on shareholder returns, with potential upside from asset sales and improved refining margins.
Elliott Management Presents the Choice for Phillips 66 Shareholders
PSX Leadership Supports Poor Performance and the Status Quo Elliott's "Streamline 66" Plan Would Create a Stronger Phillips 66 Based on Experience and Results, Not Rhetoric Visit Streamline66.com to Download the Full Presentation WEST PALM BEACH, Fla. , May 6, 2025 /PRNewswire/ -- Elliott Investment Management L.P.
Elliott Releases Episode of "Streamline 66" Podcast Series Featuring 1:1 Conversation with Director Nominee Michael Heim
Episode With Mr. Heim, A Founder of Targa Resources, Features Perspectives on Phillips 66 Operations and Value-Unlocking Options for the Company's High-Quality Assets Visit Streamline66.com to Subscribe to the Podcast and Learn About Elliott's "Streamline 66" Campaign at Phillips 66 WEST PALM BEACH, Fla.
