Phillips 66 (PSX) shares soared 3% in the last trading session to close at $159.03. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 5.5% gain over the past four weeks.The surge can be attributed to its fourth-quarter performance, during which the company's Midstream segment exhibited increased revenue compared to the corresponding period in the prior year. Additionally, the company achieved remarkable run-rate cost and sustaining ...

Phillips 66 (NYSE:PSX) BofA Securities Refining Conference March 14, 2024 12:45 PM ET Company Participants Rich Harbison - EVP, Refining Jeff Dietert - VP, IR Conference Call Participants Douglas Leggate - Bank of America Douglas Leggate Folks, we're going to try and get back on schedule. I'm sorry, we're running just a few minutes late. So say the best the last, I guess, right? [Indiscernible] No joking aside. Thanks very much indeed for being here guys. Jeff Dietert, Head of Investor Relations shouldn't b ...

Group 1 - Phillips 66 (PSX) has experienced a significant stock surge of 59.3% over the past year, outperforming the industry average improvement of 18.4% [1] - The company has a diversified business model with strong operations in refining, midstream, chemicals, and marketing & specialties, contributing to its competitive strengths [2] - Phillips 66 is focusing on midstream, renewables, and chemicals, which enhances the stability of its business model, with nearly 80% of its midstream contracts expected to be fee-based [2] Group 2 - The company returned over 50% of its operating cash flows to shareholders last year through share repurchases and dividend payments, indicating a strong commitment to capital return [2] - The refining business of Phillips 66 is subject to volatility due to fluctuating commodity prices, which can negatively impact profitability [3] - Other energy companies with strong rankings include Sunoco LP, Energy Transfer LP, and Murphy USA Inc., all of which have stable business models and lower exposure to commodity price volatility [4]

Core Viewpoint - Phillips 66 has been trending as a highly searched stock, with its recent performance showing a return of +1.6% over the past month, compared to +3.4% for the S&P 500 and +3.2% for the Oil and Gas - Refining and Marketing industry [1] Earnings Estimate Revisions - The current quarter's earnings estimate for Phillips 66 is $2.58 per share, reflecting a decrease of -38.7% year-over-year, with a -3.7% change in the Zacks Consensus Estimate over the last 30 days [3] - For the current fiscal year, the consensus earnings estimate is $13.06, indicating a -17.4% change from the previous year, with a +2.2% change in the estimate over the last 30 days [3] - The next fiscal year's consensus earnings estimate is $13.62, showing a +4.3% change from the prior year, with a +0.9% change in the estimate over the past month [3] Revenue Growth Forecast - The consensus sales estimate for the current quarter is $31.71 billion, indicating a year-over-year change of -9.6% [5] - For the current fiscal year, the sales estimate is $133.96 billion, reflecting a -10.6% change, while the next fiscal year's estimate is $135.21 billion, indicating a +0.9% change [5] Last Reported Results and Surprise History - In the last reported quarter, Phillips 66 had revenues of $38.74 billion, a year-over-year decrease of -5.3%, and an EPS of $3.09 compared to $4 a year ago [6] - The reported revenues exceeded the Zacks Consensus Estimate of $34.3 billion by +12.93%, and the EPS surprise was +30.38% [6] - Over the last four quarters, Phillips 66 surpassed consensus EPS estimates three times and topped consensus revenue estimates three times [7] Valuation - Phillips 66's valuation is assessed through various multiples, including price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to determine if the stock is fairly valued, overvalued, or undervalued [8] - The Zacks Value Style Score for Phillips 66 is graded A, indicating it is trading at a discount to its peers [9] Conclusion - The Zacks Rank 3 suggests that Phillips 66 may perform in line with the broader market in the near term, despite the market buzz surrounding the stock [10]

Phillips 66 (PSX) closed at $149.21 in the latest trading session, marking a +1.66% move from the prior day. This move outpaced the S&P 500's daily gain of 1.03%. Meanwhile, the Dow experienced a rise of 0.34%, and the technology-dominated Nasdaq saw an increase of 1.51%.Shares of the oil refiner witnessed a gain of 0.16% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 4.1% and the S&P 500's gain of 3.21%.The upcoming earnings release of Phillips 66 will be of gr ...

Joe_PotatoWith a market capitalization of $63.5 billion, Phillips 66 (NYSE:PSX) is one of the largest energy companies, not only in the US, but across the globe. Despite this, I feel like the firm does not receive all that much attention from investors. Even I have not kept track of its operations as closely as I should. The last time I wrote about the business, for instance, was in an article published in February of 2018. At that time, the discussion centered around an agreement struck between the fir ...

Table of Contents Index to Financial Statements 2023 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 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) Delawa ...

HOUSTON--(BUSINESS WIRE)--The Board of Directors of Phillips 66 (NYSE: PSX) has appointed Robert W. Pease to serve on the board, effective immediately. Following the appointment, the board consists of 14 directors, 12 of whom are independent. In addition, Phillips 66 and Elliott Investment Management L.P. (together with its affiliates, “Elliott”) have agreed to work together to identify a second mutually agreed director to be named over the coming months. “ Phillips 66 is pleased to welcome Bob to the boar ...

Core Viewpoint - Phillips 66 has declared a quarterly dividend of $1.05 per share, reflecting the company's commitment to returning value to shareholders [1]. Company Overview - Phillips 66 is a leading diversified and integrated downstream energy provider, involved in manufacturing, transporting, and marketing energy products that support the global economy [2]. - The company's operations encompass various sectors, including Midstream, Chemicals, Refining, and Marketing and Specialties [2]. - Headquartered in Houston, Phillips 66 employs a global workforce dedicated to providing energy safely and reliably while focusing on a lower-carbon future [2].

Core Viewpoint - Phillips 66 is transitioning its Rodeo refinery in California to a renewable fuel production hub, temporarily halting crude oil processing in February to facilitate this change [1][2][3]. Group 1: Transition Plans - The Rodeo refinery is currently processing 115,000 barrels per day (bbl/d) and aims to produce over 50,000 bbl/d of renewable diesel by the end of the second quarter [3]. - The transition includes the operation of a converted hydrocracker expected to start in March, reaching around 50% capacity shortly thereafter [2]. - Completion of a pre-treatment unit (PTU) and a second hydrocracker is anticipated in April, with commissioning extending into May [2]. Group 2: Focus on Lower Carbon Feedstocks - Following the successful operation of the PTU, Phillips 66 plans to shift its processing focus to lower carbon intensity feedstocks, such as fats, greases, and tallows, starting in late Q2 and continuing into Q3 [2].