Phillips 66 and Kinder Morgan plan the Western Gateway Pipeline in response to strong demand, redirecting and upgrading existing lines to transport refined fuel from Texas to California.
Phillips 66 closed on the WRB acquisition, solidifying a cost improvement in its refining business. The company's midstream business is now approaching scale to fully support all basic business needs. This segment now supports sustaining capital and dividend spending. The upside provided by refining and the petrochemical divisions provides ample cash to fund growth, buy back shares, and pay down debt.
In the most recent trading session, Phillips 66 (PSX) closed at $131.78, indicating a -6.88% shift from the previous trading day.
PSX outlines a $2.4B capital budget for 2026, increasing spending from 2025 and channeling most funds into midstream and refining growth projects.
Phillips 66 on Monday forecast higher spending in 2026 as the U.S. refiner expects increased disbursement in its midstream and refining segment.
Phillips 66 (PSX) closed the most recent trading day at $143.81, moving +2.81% from the previous trading session.
Phillips 66 shares rise after a major retail divestment brings $1.6B in proceeds and supports its shift toward more profitable assets.
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Although the revenue and EPS for Phillips 66 (PSX) give a sense of how its business performed in the quarter ended September 2025, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
The final trades of the day with CNBC's Melissa Lee and the Fast Money traders.
Here is how Phillips 66 (PSX) and Ultrapar Participacoes S.A. (UGP) have performed compared to their sector so far this year.
Phillips 66 remains a "Buy" as operational improvements and refining investments drive strong Q3 results, with refining utilization at 99%. PSX's refining margins and earnings have rebounded, while chemicals remain weak, but midstream delivers steady growth and cash flow. Debt reduction will be a focus over the next two years, limiting buybacks but supporting financial stability and capital returns.