Phillips 66 Has A Lot More In Store For 2024

Mailson Pignata Phillips 66 (NYSE:PSX) has seen a solid run up in share price thanks to the activity spurred on by the activist investor Elliott Investment Management. In a letter to the board, Elliott implied that PSX's refining assets can be run more effectively to drive costs out of the business. Elliott directly sited the growing gap in operating costs per barrel between PSX and peers Marathon and Valero. The stock saw a 5% jump on the day of this announcement, adding to the 40% price appreciation s ...