PSX Stock Recent News
PSX LATEST HEADLINES
PSX offloads non-core natural gas assets in East Texas to Voyager Midstream, advancing its plan to generate $3 billion by 2024 through asset sales.
PSX focuses more on businesses like midstream, renewables and chemicals. This makes the company's business model more stable.
Don't worry—we haven't missed out on the bargains from the August 5 “flash crash.” We've still got a sweet setup for surging dividends in a sector most people completely misunderstand.
Phillips 66 operates both midstream and downstream assets. The company has steadfastly hiked its dividend since 2013.
U.S. oil refiner Phillips 66 plans to eliminate jobs to advance its strategic priorities and improve workforce efficiency, the company said on Tuesday.
Despite being a leading global refiner in the United States, Phillips 66 (PSX) is steadily shifting its focus to its midstream business, which significantly contributed to its Q2 earnings.
Refining crack spreads have remained weak through peak driving season. Despite these market conditions, PSX's diverse business makeup through midstream, retail and chemical segments have shown capable to create an earnings floor for the company. The company remains capable of generating large amounts of cash despite weak crack spreads. I expect an additional $3 billion to be returned to shareholders through the end of this.
Shares of Phillips 66 (PSX) jumped in intraday trading Tuesday after the energy company posted better-than-anticipated results on higher midstream profit.
Phillips 66's (PSX) Q2 earnings benefit from record NGL volumes and peak refining crude utilization, partially offset by increased total costs and expenses.
Refiner Phillips 66 posted a fall in quarterly profit on Tuesday, hurt by a slump in margins due to a tepid summer driving season and a rise in global refining capacity.