PSX Stock Recent News

Elliott Has Nominated Seven Highly Qualified Candidates with Best-in-Class Experience in Refining and Midstream Operations, Capital Allocation, and Complex Transactions Files Preliminary Proxy and Submits Proposal to Annually Elect All Directors Full Materials Available at Streamline66.com WEST PALM BEACH, Fla. , March 4, 2025 /PRNewswire/ -- Elliott Investment Management L.P.

Elliott Investment Management nominated seven directors to Phillips 66's board, laying the groundwork to push for changes that include spinning off or selling its midstream business, two people familiar with the matter said.

BOZEMAN, Mont.--(BUSINESS WIRE)--Bridger Photonics Inc. (“Bridger”) has expanded its partnership with Phillips 66 across the operator's entire midstream value chain to further enhance methane leak detection. This expanded effort includes aerial scans twice per year using state-of-the-art methane detecting sensors to identify emissions, further strengthening Phillips 66's commitment to reducing emissions. Bridger is the recognized leader in methane detection, increasingly adopted by midstream op.

Phillips 66 has seen strong pressure from Elliott Management, which has become a top 5 shareholder advocating for a breakup. The company has an impressive and growing dividend yield along with a commitment to share repurchases. The midstream business helps to protect the company from volatility while providing strong shareholder returns, making it a valuable investment.

PSX has leased a new floating storage vessel in Singapore, expanding its fuel oil capacity in one of Asia's key bunkering hubs. The move strengthens its trading flexibility in the region.

Elliott engaged Phillips 66 in November 2023, calling for a series of improvements. The activist has since grown its position and stepped up its efforts.

Investors interested in stocks from the Oil and Gas - Refining and Marketing sector have probably already heard of Equinor (EQNR) and Phillips 66 (PSX). But which of these two stocks offers value investors a better bang for their buck right now?

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HOUSTON--(BUSINESS WIRE)--Phillips 66 Announces Quarterly Dividend.

The shares of energy giants BP plc (NYSE:BP) and Phillips 66 (NYSE:PSX) are moving in opposite directions this morning.