Phillips 66: Turnaround Gains Traction In Q3

Core Viewpoint - Phillips 66 (PSX) has shown moderate performance over the past year, with a gain of approximately 5% as the company implements a long-term turnaround plan aimed at enhancing operational performance at its refineries [1] Company Performance - The company is currently focused on a significant investment in upgrading its facilities to improve overall operational efficiency [1] Investment Strategy - The article highlights a contrarian investment approach based on macroeconomic views and specific stock turnaround stories, which aims to achieve outsized returns with a favorable risk/reward profile [1]