Sign at 76 gas station in Lafayette, California, showing high gas prices, February 26, 2018. Parent ... [+] company Phillips 66 ranked number 34 on the 2017 Fortune 500 list. (Photo by Smith Collection/Gado/Getty Images)Getty ImagesLast week’s oil-price drop has set us up to buy some top-flight energy dividends on the cheap. We’re going to grab one with a “hidden” 10.3% yield in just a moment.First, this buy window goes well beyond a dip in the price of the goo. Fact is, oil dropped because things calmed (s ...

The market expects Phillips 66 (PSX) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on October 29, 2024, might help the stock move higher if these key numbers a ...

Phillips 66 (PSX) ), a leading energy company, has announced the closure of its Los Angeles oil refinery by the end of 2025, mentioning "long-term uncertainty" as a key factor behind the decision.The announcement came just two days after California Governor Gavin Newsom signed a new law that could impose further regulatory requirements on the state’s refiners, including mandates for fuel storage and transparency in resupply and maintenance plans. This Los Angeles facility accounts for approximately 8% of th ...

Phillips 66 (PSX) has announced the sale of 49% of its non-operated equity interest in Coop Mineraloel AG as part of its commitment to deliver $3 billion in asset divestitures in 2024. The company is set to sell its equity interest to its Swiss joint venture partner. Coop Mineraloel owns 324 retail sites and petrol stations in Switzerland.Details of the DealThe total consideration for the deal is 1.06 billion Swiss Francs (approximately $1.24 billion). PSX will receive 1 billion Swiss Francs (approximately ...

Phillips 66 (PSX) closed the latest trading day at $136.35, indicating a -0.05% change from the previous session's end. The stock trailed the S&P 500, which registered a daily gain of 0.61%. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, added 0.33%.Heading into today, shares of the oil refiner had gained 8.51% over the past month, outpacing the Oils-Energy sector's loss of 2.26% and the S&P 500's gain of 5.36% in that time.Analysts and investors alike will be keeping a close eye on th ...

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. Phillips 66 projects to report revenue of $34.75 billion for the recent quarter, down from $40.32 billion a year earlier, according to data from Benzinga Pro.With the recent buzz around Phillips 66, some investors may be eyeing potential gains from the company's dividends, too. The compan ...

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 ...

Stock Performance - Phillips 66's shares surged 23.2% in the past year, outperforming the industry's 11.7% rise [1] Business Model and Strategy - The company has a diversified business model with strong presence in refining, midstream, chemicals, and marketing & specialties [2] - Phillips 66 prioritizes midstream, renewables, and chemicals segments to enhance business stability [2] - The company operates a 72,000-mile U.S. pipeline network, with nearly 80% of midstream contracts being fee-based, reducing susceptibility to commodity price fluctuations [2] Capital Return to Shareholders - Phillips 66 has returned $11.2 billion to shareholders through dividends and share repurchases since July 2022 [3] - The company expects to return $13 billion to $15 billion to shareholders by the end of this year [3] Refining Business and Industry - The refining business is exposed to volatility in commodity prices due to reliance on crude oil as raw material [4] - New refinery capacities coming online may depress refining margins in the coming quarters [4] - Marathon Petroleum manages the largest refining system in the U.S. [4] - Valero Energy has a combined daily throughput capacity of approximately 3.2 million barrels across 15 refineries in the U.S., Canada, and the U.K. [4] - ExxonMobil has a global refining capacity of roughly 5 million barrels per day across 21 refineries [5]

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 ...