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PSX's refining arm benefits from strong margins, with widening light-heavy spreads and cheaper heavy crude anticipated to support higher margins.
I upgrade Phillips 66 to buy, citing strategic positioning for a Venezuelan crude import resurgence. The recent WRB Refining acquisition and LA refinery closure streamline PSX's asset base, enhancing operational leverage and earnings quality. PSX's complexity advantage, cost reductions, and diversified cash flows position it to outperform peers amid industry volatility.
Sumitomo Mitsui DS Asset Management Company Ltd reduced its holdings in shares of Phillips 66 (NYSE: PSX) by 16.6% in the undefined quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,294 shares of the oil and gas company's stock after selling 9,992 shares
Phillips 66 (NYSE: PSX - Get Free Report) EVP Vanessa Allen Sutherland sold 4,394 shares of Phillips 66 stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $145.00, for a total transaction of $637,130.00. Following the transaction, the executive vice president directly owned 30,193 shares of the company's
The Houston-based oil and gas company Phillips 66 is named after the bygone era of early American automobiles that drove Route 66—and were fueled by Phillips Petroleum's 66 octane gasoline.
In the most recent trading session, Phillips 66 (PSX) closed at $142.16, indicating a -1.43% shift from the previous trading day.
Interior Secretary Doug Burgum says US oil companies are very interested in revitalizing Venezuela's oil sector. But he says the Trump administration is unlikely to subsidize their efforts.
Top oil companies will meet with President Donald Trump on Friday to discuss rebuilding Venezuela's oil industry.
The largest oil companies are likely to move slower in terms of making investments in Venezuela, with wildcatters or independent oil companies likely to move much more quickly, U.S. Treasury Secretary Scott Bessent said on Thursday.
Chevron is the only one of the three major U.S. oil companies that operates in Venezuela. ConocoPhillips and ExxonMobil exited Venezuela in 2007 after Hugo Chávez nationalized the industry.
PSX, WTI and OII could benefit as oil market volatility reveals selective opportunities amid mixed inventory signals.
Stock futures pointed lower Thursday, a day after the benchmark S&P 500 and blue-chip Dow Jones Industrial Average set fresh all-time highs before retreating.
Tom Friedman, The New York Times opinion columnist, joins 'Squawk Box' to discuss the situation in Venezuela following the capture of president Nicolas Maduro, practicality of America's Venezuela oil plan, future of Venezuela, and more.
Commonwealth Equity Services LLC cut its holdings in shares of Phillips 66 (NYSE: PSX) by 7.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 255,839 shares of the oil and gas company's stock after selling 20,892 shares
U.S. oil companies want "serious guarantees" from Washington before they make large investments in Venezuela, as President Donald Trump urges them to back his bid to reshape energy markets, the Financial Times reported on Wednesday.
Phillips 66 agrees to buy the Lindsey Oil Refinery assets in the U.K., planning to integrate key infrastructure into its Humber operations to enhance the U.K.'s energy security.
Major stock indexes were mixed Wednesday, with the Dow Jones Industrial Average and S&P 500 setting fresh all-time highs before the Dow turned lower.
CVX, PSX and VLO may benefit as Trump signals the possibility of U.S. access to Venezuela's heavy crude, improving prospects for producers and complex refiners.
President Donald Trump said Venezuela would turn over between 30 million and 50 million barrels of sanctioned oil to the United States, a move he estimated at r