Phillips 66 (PSX)

US — Energy Sector
Peers: MPC  VLO  E  KMI  SLB  MPLX  ET  TRP  EOG  SU 

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News

Phillips 66 Q4 Earnings Top Estimates Despite Lower Refining Margin
PSX
Published: February 11, 2025 by: Zacks Investment Research
Sentiment: Positive

PSX aims to significantly lower refining costs over the next two years, driven by the Los Angeles Refinery shutdown and strategic efficiency improvements.

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image for news Phillips 66 Q4 Earnings Top Estimates Despite Lower Refining Margin
Elliott Sends Letter and Presentation to the Board of Phillips 66
PSX
Published: February 11, 2025 by: PRNewsWire
Sentiment: Neutral

Highlights Need to Streamline Portfolio, Improve Operating Performance and Enhance Oversight Discloses a More Than $2.5 Billion Position Full Letter and Presentation Available at Streamline66.com WEST PALM BEACH, Fla. , Feb. 11, 2025 /PRNewswire/ -- Elliott Investment Management L.P.

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image for news Elliott Sends Letter and Presentation to the Board of Phillips 66
Activist Elliott Management ramps up stake in Phillips 66 to $2.5 billion
PSX
Published: February 11, 2025 by: CNBC Television
Sentiment: Positive

CNBC's Andrew Ross Sorkin reports on the latest news.

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image for news Activist Elliott Management ramps up stake in Phillips 66 to $2.5 billion
Elliott has reportedly increased its Phillips 66 stake. Here's its plan.
PSX
Published: February 11, 2025 by: Market Watch
Sentiment: Positive

Refiner Phillips 66 is the latest target of activist investor Elliott Management that is aggressively pursuing companies in the energy space.

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image for news Elliott has reportedly increased its Phillips 66 stake. Here's its plan.
Activist Elliott builds over $2.5 billion stake in Phillips 66, WSJ reports
PSX
Published: February 10, 2025 by: Reuters
Sentiment: Positive

Activist Elliott Investment Management has built an over $2.5 billion stake in Phillips 66 and plans to push the oil refiner to consider operational changes to boost its stock price, the Wall Street Journal reported on Monday.

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image for news Activist Elliott builds over $2.5 billion stake in Phillips 66, WSJ reports

About Phillips 66 (PSX)

  • IPO Date 2012-04-12
  • Website https://www.phillips66.com
  • Industry Oil & Gas Refining & Marketing
  • CEO Mark E. Lashier
  • Employees 13200

Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas. The Chemicals segment produces and markets ethylene and other olefin products; aromatics and styrenics products, such as benzene, cyclohexane, styrene, and polystyrene; and various specialty chemical products, including organosulfur chemicals, solvents, catalysts, and chemicals used in drilling and mining. The Refining segment refines crude oil and other feedstocks into petroleum products, such as gasolines, distillates, aviation, and renewable fuels at 12 refineries in the United States and Europe. The M&S segment purchases for resale and markets refined petroleum products, including gasolines, distillates, and aviation fuels primarily in the United States and Europe. This segment also manufactures and markets specialty products, such as base oils and lubricants. The company was founded in 1875 and is headquartered in Houston, Texas.