Phillips 66 (PSX) closed at $129.47 in the latest trading session, marking a -1.25% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.25%. At the same time, the Dow added 0.2%, and the tech-heavy Nasdaq gained 0.56%.The oil refiner's shares have seen a decrease of 3.05% over the last month, not keeping up with the Oils-Energy sector's loss of 0.05% and the S&P 500's gain of 1.65%.The investment community will be paying close attention to the earnings performance of Ph ...

Phillips 66, (PSX) , a leading energy company, has sold its natural gas gathering and processing assets in East Texas to Voyager Midstream Holdings, a portfolio company of Pearl Energy Investments, per a Reuters report. This move is part of Phillips 66’s ongoing strategy to monetize non-core assets and enhance returns.Phillips 66’s Strategic Asset MonetizationThe sale aligns with Phillips 66’s previously announced plan to divest $3 billion in non-core assets in January 2024. The proceeds from these sales ar ...

Phillips 66’s (PSX) shares have surged 23.2% in the past year compared with the industry’s 11.7% rise. What's Favoring the Stock?PSX boasts a diversified business model, with substantial involvement in refining midstream, chemicals and marketing & specialties. Across all its operations, Phillips 66 maintains a strong presence in terms of safety, profitability, scale and competitive advantages.The company is prioritizing segments such as midstream, renewables and chemicals, enhancing the stability of its bus ...

Two engineers man and woman using laptop to work at power plant on night shift.gettyDon’t worry—we haven’t missed out on the bargains from the August 5 “flash crash.” We’ve still got a sweet setup for surging dividends in a sector most people completely misunderstand.Misunderstood, unloved and soaring dividends? We’re interested!I’m talking about refinery stocks. We’re going to zero in on two of my favorites today: Phillips 66 (PSX) and Valero Energy Corp. (VLO). As you’ll see below, I like one more than th ...

Operating in several links in the energy value chain helps this company sustain a healthy dividend.Boosting its dividend at a 12% compound annual growth rate from 2013 through 2023, Phillips 66 (PSX -0.01%) is undeniably dedicated to rewarding shareholders. The energy company has consistently hiked its dividend payout,  which makes it a compelling choice for investors looking to fuel their passive income with a reliable name from the oil patch. The stock's forward dividend yield of 3.5% also makes it a comp ...

Phillips 66 (PSX) reported second-quarter 2024 results, wherein it beat both the bottom-line and top-line estimates. However, since its earnings release before the opening bell on Jul 30, the stock price has fallen 6.2% amid a global market sell-off due to concerns about the overall health of the U.S. economy. Additionally, high oil prices, which are used as inputs for producing final products like gasoline, are adversely impacting the company’s refining business and may also be contributing to the stock pr ...

PHILLIPS 66 SECOND-QUARTER CONFERENCE CALL July 30, 2024 Cautionary Statement This presentation contains forward-looking statements within the meaning of the federal securities laws. Words such as "anticipated," "estimated," "expected," "planned," "scheduled," "targeted," "believe," "continue," "intend," "will," "would," "objective," "goal," "project," "efforts," "strategies" and similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. Howev ...

Gary Yeowell Thesis I first started covering Phillips 66 (NYSE:PSX) in March of 2023. In that original analysis, and in my comparison with Valero (VLO), I highlighted that PSX's midstream assets are a coat of armor for investors by providing what has proved to be an earnings floor when crack spreads declined. Refinery margins have fallen over 50% since Q1 of 2023. As a result, the consistent performance of the midstream segment now contributes over 45% of the company's earnings. The refining segment is ...

Table of Contents 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, 2024 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 j ...

Phillips 66 (NYSE:PSX) Q2 2024 Earnings Conference Call July 30, 2024 12:00 PM ET Company Participants Jeff Dietert - VP, IR Mark Lashier - Chairman and CEO Kevin Mitchell - CFO Rich Harbison - Refining Brian Mandell - Marketing and Commercial Don Baldridge - Midstream and Chemicals Conference Call Participants Roger Read - Wells Fargo Neil Mehta - Goldman Sachs John Royall - JPMorgan Ryan Todd - Piper Sandler Matthew Blair - Tudor, Pickering, Holt Jason Gabelman - TD Cowen Doug Leggate - Wolfe Research Pau ...