In the latest market close, Phillips 66 (PSX) reached $135.75, with a +1.09% movement compared to the previous day. This change outpaced the S&P 500's 0.8% loss on the day. At the same time, the Dow lost 0.76%, and the tech-heavy Nasdaq lost 1.18%.The oil refiner's shares have seen an increase of 5.16% over the last month, surpassing the Oils-Energy sector's gain of 0.83% and the S&P 500's gain of 3.4%.Analysts and investors alike will be keeping a close eye on the performance of Phillips 66 in its upcoming ...

Mario Tama Phillips 66 (NYSE:PSX) is an American multinational energy company headquartered in Houston. The company is one of the largest publicly traded refining companies, with a market cap just under $60 billion. As we'll see throughout this article, the company's impressive and complex assets will drive long-term shareholder returns. Phillips 66 Shareholder Commitments Phillips 66 is working to continue improving the reliability of its business with its commitments to shareholders. Phillips 66 Investor ...

Phillips 66 (NYSE:PSX) Bank of America Energy Conference Conference Call November 14, 2023 4:00 PM ET Company Participants Timothy Roberts - EVP, Midstream & Chemicals Jeffrey Dietert - VP, IR Richard Harbison - EVP, Refining Conference Call Participants Doug Leggate - Bank of America Merrill Lynch Kalei Akamine - Bank of America Merrill Lynch Doug Leggate Thanks very much indeed for being here this afternoon. So we're going to turn our agenda back to Refining again, our first corporate fireside chat with - ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-35349 Phillips 66 (Exact name of registrant as specified in its charter) Delaware 45-3779385 (State or other jurisdiction o ...

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Phillips 66 (NYSE:PSX) Q3 2023 Earnings Conference Call October 27, 2023 12:00 PM ET Company Participants Jeff Dietert - Vice President, Investor Relations Mark Lashier - President and Chief Executive Officer Kevin Mitchell - Chief Financial Officer Tim Roberts - Executive Vice President, Midstream and Chemicals Rich Harbison - Executive Vice President, Refining Brian Mandell - Executive Vice President, Marketing and Commercial Conference Call Participants Neil Mehta - Goldman Sachs Roger Read - Wells Fargo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-35349 Phillips 66 (Exact name of registrant as specified in its charter) Delaware 45-3779385 (State or other jurisdiction of (I. ...

Phillips 66 (NYSE:PSX) Q2 2023 Earnings Call Transcript August 2, 2023 12:00 PM ET Company Participants Jeff Dietert - Vice President-Investor Relations Mark Lashier - President & Chief Executive Officer Kevin Mitchell - Chief Financial Officer Rich Harbison - Refining Tim Roberts - Midstream & Chemicals Brian Mandell - Marketing & Commercial Conference Call Participants Doug Leggate - Bank of America Neil Mehta - Goldman Sachs Roger Read - Wells Fargo John Royall - JPMorgan Ryan Todd - Piper Sandler Jason ...

Phillips 66 (NYSE:PSX) J.P. Morgan 2023 Energy, Power and Renewables Conference June 21, 2023 11:20 AM ET Company Participants Mark Lashier - President & Chief Executive Officer Jeff Dietert - Vice President-Investor Relations Conference Call Participants John Royall - JPMorgan John Royall Okay. We will get started now. So we're joined by Mark Lashier, President and CEO of Phillips 66. Mark took over the CEO role about a year ago, after being in the COO seat for about a year. Prior to that, Mark ran the CPC ...

Financial Data and Key Metrics Changes - The company reported adjusted earnings of $2 billion or $4.21 per share, marking a record first quarter [4] - Operating cash flow was $1.2 billion, with capital spending of $378 million, including $228 million for growth projects [11][18] - The company returned $1.3 billion to shareholders through dividends and share repurchases [5][12] Business Line Data and Key Metrics Changes - In Refining, adjusted pre-tax income was $1.6 billion, down $18 million from the previous quarter, with realized margins increasing by 5% to $20.72 per barrel [14] - Chemicals saw adjusted pre-tax income of $198 million, up from $52 million in the previous quarter, driven by improved margins and higher sales volumes [14] - Midstream adjusted pre-tax income was $678 million, slightly up from $674 million in the previous quarter, with transportation contributing $270 million [13] Market Data and Key Metrics Changes - The market capture rate increased to 93%, up from 84% in the previous quarter, despite a decrease in the composite 3:2:1 market crack [15] - The distillate crack decreased by $19 per barrel, while the gasoline crack increased by $7 per barrel [15] - Global O&P utilization was reported at 94% for the quarter [14] Company Strategy and Development Direction - The company is focused on operating excellence and disciplined capital allocation, with a commitment to return $10 billion to $12 billion to shareholders over a 10-quarter period [5][7] - The conversion of the San Francisco refinery into a renewable fuels facility is underway, expected to begin commercial operations in Q1 2024 [9] - CPChem is pursuing high-return projects, including a second world-scale 1-hexene unit and propylene splitting capacity expansion [10] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the operational improvements and the ability to capture market opportunities, particularly in refining [22][24] - The company anticipates continued strong performance in refining and chemicals, with expectations for mid-90s utilization rates in the second quarter [19] - Management acknowledged challenges posed by the new California windfall profit penalty, which adds uncertainty to operations [78] Other Important Information - The company achieved a $1 billion annual run rate savings target through business transformation initiatives [8] - The company has a strong cash position with a balance of $7 billion at the end of the quarter, allowing for continued shareholder returns [18] Q&A Session Summary Question: Refining utilization and market capture - Management highlighted improvements in asset availability and turnaround execution as key factors for better refining performance and utilization rates [22][24] Question: Impact of declining crude prices - Management noted that declining crude prices could benefit marketing margins but may also lead to working capital challenges [28][32] Question: Capture rate sustainability - Management indicated that while capture rates have improved, they are influenced by various factors, including reliability programs and turnaround execution [38][40] Question: Demand trends in gasoline and diesel - Management reported better-than-expected gasoline demand and noted that global distillate demand is also showing strength [44] Question: Cost reduction progress - Management confirmed that they are ahead of schedule on cost reduction initiatives, with significant savings expected to continue [49][50] Question: Renewable diesel project updates - Management provided positive updates on the renewable diesel project, with expectations for startup in early 2024 [61][62] Question: California windfall profit penalty implications - Management expressed concerns about the new penalty creating uncertainty and complicating investment decisions in California [78] Question: Changes in refining margin structure - Management noted that US refineries remain advantaged compared to global peers, with expectations for strengthening margins due to seasonal demand [86]