Phillips 66 offers a 3.4% dividend yield and growth potential in EBITDA, making it a solid investment for passive income investors. The company is well-managed with a diversified downstream portfolio, focusing on cost reductions and asset dispositions to improve capital returns. Despite low refining margins, PSX has consistently grown its dividend since 2013, with a total increase of 238%.
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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 (PSX) concluded the recent trading session at $132.60, signifying a -0.56% move from its prior day's close.
PSX plans to shut its Los Angeles refinery by late 2025, citing market dynamics and lower profits, leaving California to face further fuel supply challenges.
The oil refiner said the unit's long-term sustainability is uncertain and affected by market dynamics.
Phillips 66 said on Wednesday it plans to stop operations at its Los Angeles-area refinery in the fourth quarter of 2025 and will work with the state of California to supply fuel markets and meet consumer demand.
PSX states that the proceeds from the sale of 49% of its non-operated equity interest in Coop Mineraloel will support its priorities, including shareholder returns.
Phillips 66 (PSX) concluded the recent trading session at $136.35, signifying a -0.05% move from its prior day's close.
When Phillips 66 PSX releases earnings results for its third quarter on Tuesday, Oct. 29, analysts expect the company to report quarterly earnings at $2.1 per share. That's down from $4.63 per share in the year-ago period.
In the closing of the recent trading day, Phillips 66 (PSX) stood at $132.99, denoting a +1.17% change from the preceding trading day.
PSX focuses more on businesses like midstream, renewables and chemicals. This makes the company?