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 comprising gasolines, distillates, and aviation fuels at 13 refineries in the United States and Europe. The M&S segment purchases for resale and markets refined petroleum products consisting of gasolines, distillates, and aviation fuels primarily in the United States and Europe. It also manufactures and markets specialty products, such as base oils and lubricants. The company was founded in 1875 and is headquartered in Houston, Texas.
IPO Year:
Exchange: NYSE
Website: phillips66.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/17/2024 | $156.00 | Buy | BofA Securities |
| 9/11/2024 | $162.00 → $150.00 | Buy | TD Cowen |
| 7/31/2024 | $155.00 → $162.00 | Buy | TD Cowen |
| 7/18/2024 | Peer Perform | Wolfe Research | |
| 6/21/2024 | $164.00 → $155.00 | Buy | TD Cowen |
| 1/24/2024 | Buy | Citigroup | |
| 12/4/2023 | $134.00 → $150.00 | Outperform | TD Cowen |
| 10/31/2023 | $146.00 | Peer Perform → Outperform | Wolfe Research |
| 10/30/2023 | $115.00 → $130.00 | Hold → Buy | Tudor, Pickering, Holt & Co. |
| 8/15/2023 | $132.00 → $141.00 | Buy → Neutral | BofA Securities |
Reported third-quarter earnings of $346 million or $0.82 per share; adjusted earnings of $859 million or $2.04 per share Returned $1.3 billion to shareholders through dividends and share repurchases Achieved business transformation $1.4 billion run-rate savings target, including $1 per barrel Refining cost reduction Progressed asset dispositions totaling $2.7 billion toward $3 billion target, including recently executed agreements Phillips 66 (NYSE:PSX), a leading integrated downstream energy provider, announced third-quarter earnings. "Our employees continue to execute our strategic priorities, deliver strong operating performance and leverage the benefits of our differentiated d
Facility expects to cease operations in the fourth quarter of 2025 Company will work with the state of California to supply fuel markets and meet ongoing consumer demand Phillips 66 (NYSE:PSX) announced plans to cease operations at its Los Angeles-area refinery in the fourth quarter of 2025 and will work with the state of California to supply fuel markets and meet ongoing consumer demand. "We understand this decision has an impact on our employees, contractors and the broader community," said Mark Lashier, chairman and CEO of Phillips 66. "We will work to help and support them through this transition." Approximately 600 employees and 300 contractors currently operate the Los Angeles-a
Phillips 66 (NYSE:PSX) announced today that its subsidiary, Phillips 66 Limited, has entered into a definitive agreement to sell its 49 percent non-operated equity interest in Coop Mineraloel AG ("CMA") to its Swiss joint venture partner. It will receive cash of 1.06 billion Swiss francs (approximately $1.24 billion) consisting of a 1 billion Swiss franc sales price (approximately $1.17 billion) and an assumed dividend of 60 million Swiss francs (approximately $70 million) for financial year 2024 to be paid at or prior to closing. The sales price is subject to adjustment based on the amount of the dividend. "This transaction marks significant progress in delivering on our commitment of ove
The board of directors of Phillips 66 (NYSE:PSX) has declared a quarterly dividend of $1.15 per share on Phillips 66 common stock. The dividend is payable on Dec. 2, 2024, to shareholders of record as of the close of business on Nov. 18, 2024. About Phillips 66 Phillips 66 (NYSE:PSX) is a leading integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company's portfolio includes Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pu
The board of directors of Phillips 66 (NYSE:PSX) has appointed Grace Puma Whiteford to serve on the company's board, effective Oct. 10. She will serve on the Human Resources and Compensation Committee and the Public Policy and Sustainability Committee of the board. "Phillips 66 is pleased to welcome Grace to the board of directors as a highly qualified independent director. We will benefit from her broad experience in operations, procurement, and safety as well as her leadership and perspectives," said Mark Lashier, chairman and CEO. Puma Whiteford currently serves on the boards of Target Corporation and Organon & Co. and previously served on the board of Williams-Sonoma, Inc. Puma Whitef
Phillips 66 (NYSE:PSX) executive management will host a webcast at noon ET on Tuesday, Oct. 29, 2024, to discuss the company's third-quarter 2024 financial results, which will be released earlier that day. To access the webcast, go to the Events and Presentations section of the Phillips 66 Investors site, phillips66.com/investors. A replay of the webcast will be archived on the Events and Presentations page approximately two hours after the event, and a transcript will be available at a later date. About Phillips 66 Phillips 66 (NYSE:PSX) is a leading diversified and integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. Th
Second-quarter earnings of $1.0 billion or $2.38 per share; adjusted earnings of $984 million or $2.31 per share $1.3 billion returned to shareholders through dividends and share repurchases Record Midstream NGL pipeline and fractionation volumes; synergy capture driving lower costs Strong Refining operations with 98% crude utilization, 86% clean product yield and lower costs Phillips 66 (NYSE:PSX), a leading diversified and integrated downstream energy provider, announced second-quarter earnings. "We are systematically executing on our strategic priorities, which is reflected in our second-quarter results," said Mark Lashier, chairman and CEO of Phillips 66. "Refining crude
Leading Energy Provider Eliminates Multiple Tools with Cohesity DataProtect Cohesity, a leader in AI-powered data security and management, announced today that energy provider Phillips 66 (NYSE:PSX) selected the company to modernize its data protection operations. With Cohesity, Phillips 66 eliminated redundant tools and solutions across its IT infrastructure, resulting in less time spent managing its data protection environment, increased data security, and cost-savings over a three-year period. Previously, Phillips 66 relied on five disparate and siloed data protection tools in its environment. This forced backup teams to spend significant time managing these tools, creating inefficie
The board of directors of Phillips 66 (NYSE:PSX) has declared a quarterly dividend of $1.15 per share on Phillips 66 common stock. The dividend is payable on Sept. 3, 2024, to shareholders of record as of the close of business on Aug. 20, 2024. About Phillips 66 Phillips 66 (NYSE:PSX) is a leading diversified and integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company's portfolio includes Midstream, Chemicals, Refining, and Marketing and Specialties businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while
Rodeo Renewed project increases output to approximately 50,000 barrels per day (BPD) Phillips 66 (NYSE:PSX) today announced the full conversion of the Rodeo Renewable Energy Complex, expanding commercial-scale production and positioning the company as a leader in renewable fuels. The Rodeo facility in the San Francisco Bay Area increased rates to approximately 50,000 BPD (800 million gallons per year), reaching the company's goal of achieving full capacity by the second quarter of 2024. The announcement also marks a significant step in Phillips 66's commitment to play a meaningful role in the energy transition and provide customers with lower-carbon solutions. "Phillips 66 has reached
Reported third-quarter earnings of $346 million or $0.82 per share; adjusted earnings of $859 million or $2.04 per share Returned $1.3 billion to shareholders through dividends and share repurchases Achieved business transformation $1.4 billion run-rate savings target, including $1 per barrel Refining cost reduction Progressed asset dispositions totaling $2.7 billion toward $3 billion target, including recently executed agreements Phillips 66 (NYSE:PSX), a leading integrated downstream energy provider, announced third-quarter earnings. "Our employees continue to execute our strategic priorities, deliver strong operating performance and leverage the benefits of our differentiated d
Facility expects to cease operations in the fourth quarter of 2025 Company will work with the state of California to supply fuel markets and meet ongoing consumer demand Phillips 66 (NYSE:PSX) announced plans to cease operations at its Los Angeles-area refinery in the fourth quarter of 2025 and will work with the state of California to supply fuel markets and meet ongoing consumer demand. "We understand this decision has an impact on our employees, contractors and the broader community," said Mark Lashier, chairman and CEO of Phillips 66. "We will work to help and support them through this transition." Approximately 600 employees and 300 contractors currently operate the Los Angeles-a
Phillips 66 (NYSE:PSX) announced today that its subsidiary, Phillips 66 Limited, has entered into a definitive agreement to sell its 49 percent non-operated equity interest in Coop Mineraloel AG ("CMA") to its Swiss joint venture partner. It will receive cash of 1.06 billion Swiss francs (approximately $1.24 billion) consisting of a 1 billion Swiss franc sales price (approximately $1.17 billion) and an assumed dividend of 60 million Swiss francs (approximately $70 million) for financial year 2024 to be paid at or prior to closing. The sales price is subject to adjustment based on the amount of the dividend. "This transaction marks significant progress in delivering on our commitment of ove
The board of directors of Phillips 66 (NYSE:PSX) has declared a quarterly dividend of $1.15 per share on Phillips 66 common stock. The dividend is payable on Dec. 2, 2024, to shareholders of record as of the close of business on Nov. 18, 2024. About Phillips 66 Phillips 66 (NYSE:PSX) is a leading integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company's portfolio includes Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pu
Second-quarter earnings of $1.0 billion or $2.38 per share; adjusted earnings of $984 million or $2.31 per share $1.3 billion returned to shareholders through dividends and share repurchases Record Midstream NGL pipeline and fractionation volumes; synergy capture driving lower costs Strong Refining operations with 98% crude utilization, 86% clean product yield and lower costs Phillips 66 (NYSE:PSX), a leading diversified and integrated downstream energy provider, announced second-quarter earnings. "We are systematically executing on our strategic priorities, which is reflected in our second-quarter results," said Mark Lashier, chairman and CEO of Phillips 66. "Refining crude
The board of directors of Phillips 66 (NYSE:PSX) has declared a quarterly dividend of $1.15 per share on Phillips 66 common stock. The dividend is payable on Sept. 3, 2024, to shareholders of record as of the close of business on Aug. 20, 2024. About Phillips 66 Phillips 66 (NYSE:PSX) is a leading diversified and integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company's portfolio includes Midstream, Chemicals, Refining, and Marketing and Specialties businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while
Company offers a look into how it is approaching the future of energy Phillips 66 (NYSE:PSX) released its 2024 Sustainability and People Report today, demonstrating the company's approach to helping supply the world's growing energy needs while advancing projects to reduce emissions and foster growth. "This report is both a snapshot of our employees' achievements and a roadmap for the future as we continue to deliver on our strategic priorities," said Phillips 66 Chairman and CEO Mark Lashier. "Our successes in 2023 demonstrate our commitment to carrying out our mission of providing energy and improving lives. We are energized by the opportunities ahead as we pursue lower-carbon and oth
Phillips 66 (NYSE:PSX) announced today it has agreed to sell its 25% non-operated common equity interest in Rockies Express Pipeline LLC (REX) to a subsidiary of Tallgrass Energy, LP (TGE) for an enterprise value of approximately $1.275 billion. TGE is the operator of REX and will own 100% of the common equity interest in REX following the transaction. This transaction generates pre-tax cash proceeds of $685 million to Phillips 66 after adjustments for Phillips 66's allocation of REX's debt and preferred equity balances. "This sale is an important step in our commitment to deliver over $3 billion in asset divestitures," said Mark Lashier, Chairman and CEO of Phillips 66. "We are committed
Researched by Industrial Info Resources--The U.S. Petroleum Refining Industry is bracing for a very busy summer, with some production already ramping up in May. Still, the industry has more than a few turnarounds scheduled to begin in the third quarter. Industrial Info is tracking about $640 million worth of maintenance-related projects in the U.S. Petroleum Refining Industry that are set to kick off from July through September, more than 40% of which is in Texas and Louisiana. One refinery accounts for about 25% of the projected third-quarter investment in industry turnarounds: PBF Energy Incorporated's ((PBF) (Parsippany, New Jersey) Chalmette Refinery in Chalmette, Louisiana, which has
Transaction advances company's wellhead-to-market strategy Phillips 66 (NYSE:PSX) announced today it has agreed to acquire Pinnacle Midland Parent LLC (Pinnacle) from private equity firm Energy Spectrum Capital for cash consideration of $550 million in a strategic move to expand its natural gas gathering and processing footprint in the Midland Basin. "We are growing our Midstream business in the Permian to further strengthen and expand our service offerings to customers while driving operational and commercial synergies," said Mark Lashier, Chairman and CEO of Phillips 66. "Pinnacle is a bolt-on asset that advances our wellhead-to-market strategy and complements our diversified and inte
Wolfe Research analyst Doug Leggate reinstates Phillips 66 (NYSE:PSX) with a Peer Perform.
Scotiabank analyst Paul Cheng maintains Phillips 66 (NYSE:PSX) with a Sector Outperform and lowers the price target from $156 to $145.
Investors with significant funds have taken a bearish position in Phillips 66 (NYSE:PSX), a development that retail traders should be aware of. This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in PSX usually indicates foreknowledge of upcoming events. Today, Benzinga's options scanner identified 8 options transactions for Phillips 66. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 37% being bullish and 62% bearish. Of all the options we discovered, 7 are puts, valued at $613,320, and there was a single call, w
Phillips 66's (NYSE:PSX) short percent of float has risen 3.98% since its last report. The company recently reported that it has 8.84 million shares sold short, which is 2.09% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.96 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interest is
Barclays analyst Theresa Chen maintains Phillips 66 (NYSE:PSX) with a Equal-Weight and lowers the price target from $142 to $136.
JP Morgan analyst John Royall maintains Phillips 66 (NYSE:PSX) with a Overweight and lowers the price target from $165 to $162.
In the last three months, 13 analysts have published ratings on Phillips 66 (NYSE:PSX), offering a diverse range of perspectives from bullish to bearish. Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 2 6 5 0 0 Last 30D 0 0 1 0 0 1M Ago 1 1 1 0 0 2M Ago 1 2 0 0 0 3M Ago 0 3 3 0 0 Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $161.77, along with a high estimate of $191.00 and a low estimate of $142.00. This current average represent
Barclays analyst Theresa Chen maintains Phillips 66 (NYSE:PSX) with a Equal-Weight and lowers the price target from $147 to $142.
- Reuters
TD Cowen analyst Jason Gabelman maintains Phillips 66 (NYSE:PSX) with a Buy and lowers the price target from $164 to $155.
BofA Securities resumed coverage of Phillips 66 with a rating of Buy and set a new price target of $156.00
TD Cowen reiterated coverage of Phillips 66 with a rating of Buy and set a new price target of $150.00 from $162.00 previously
TD Cowen reiterated coverage of Phillips 66 with a rating of Buy and set a new price target of $162.00 from $155.00 previously
Wolfe Research resumed coverage of Phillips 66 with a rating of Peer Perform
TD Cowen reiterated coverage of Phillips 66 with a rating of Buy and set a new price target of $155.00 from $164.00 previously
Citigroup initiated coverage of Phillips 66 with a rating of Buy
TD Cowen reiterated coverage of Phillips 66 with a rating of Outperform and set a new price target of $150.00 from $134.00 previously
Wolfe Research upgraded Phillips 66 from Peer Perform to Outperform and set a new price target of $146.00
Tudor, Pickering, Holt & Co. upgraded Phillips 66 from Hold to Buy and set a new price target of $130.00 from $115.00 previously
BofA Securities downgraded Phillips 66 from Buy to Neutral and set a new price target of $141.00 from $132.00 previously
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The board of directors of Phillips 66 (NYSE:PSX) has appointed Grace Puma Whiteford to serve on the company's board, effective Oct. 10. She will serve on the Human Resources and Compensation Committee and the Public Policy and Sustainability Committee of the board. "Phillips 66 is pleased to welcome Grace to the board of directors as a highly qualified independent director. We will benefit from her broad experience in operations, procurement, and safety as well as her leadership and perspectives," said Mark Lashier, chairman and CEO. Puma Whiteford currently serves on the boards of Target Corporation and Organon & Co. and previously served on the board of Williams-Sonoma, Inc. Puma Whitef
Collaboration Aims to Fuel the Next Generation of Big 12 Athletes through Safer Sports Access KANSAS CITY, Mo., April 2, 2024 /PRNewswire/ -- Phillips 66® is proud to announce that they will be contributing $100,000 towards revamping the basketball courts in the Parade Park community in Kansas City, Mo. This year's Big 12 Basketball Tournament marked the 36th consecutive year Phillips 66® has served as a tournament partner and the 15th consecutive year the tournament has been held in Kansas City, with the Big 12 recently announcing the tournament will be held in Kansas City through 2031. The Parade Park project marks an elevated brand commitment to the local community and to accessibility to
Appointment Follows Constructive Dialogue with Elliott; Commitment to Add a Second Director 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 board. His demonstrated refining experience, leadership and energy expertise will add to the board's oversight of the compan
The board of directors of Phillips 66 (NYSE:PSX) has appointed Mark E. Lashier and Gregory J. Hayes to serve on the board, effective July 12, 2022. Following the appointments, the board of Phillips 66 will consist of 13 directors, 11 of whom are independent. Lashier, who will serve on the Executive Committee of the board, was recently named as the Chief Executive Officer of Phillips 66 after serving as President and Chief Operating Officer since April 2021. Lashier, who has over 30 years of energy industry experience, served as CEO of ChevronPhillips Chemical Company LLC ("CPChem") from August 2017 to April 2021. He joined the global petrochemical joint venture, in which Phillips 66 owns a
Reported first-quarter earnings of $582 million or $1.29 per share; adjusted earnings of $595 million or $1.32 per share Generated $1.1 billion of operating cash flow; $1.3 billion excluding working capital Repaid $1.45 billion of debt in April Announced plan to restart share repurchases Received industry recognition for exemplary safety performance in Chemicals and Refining Recently announced CEO transition plan Phillips 66 (NYSE:PSX), a diversified energy company, announces first-quarter 2022 earnings of $582 million, compared with earnings of $1.3 billion in the fourth quarter of 2021. Excluding special items of $13 million, the company had adjusted earnings of $595 million
Greg Garland to step down as Chief Executive Officer on July 1 after 10 years of leading company; will remain as Executive Chairman of the Board of Directors Mark Lashier, current President and Chief Operating Officer, will assume President and Chief Executive Officer role Phillips 66 (NYSE:PSX) has named its current President and Chief Operating Officer, Mark Lashier, as President and Chief Executive Officer effective July 1. Lashier will succeed Greg Garland, who will remain as Executive Chairman of the Board of Directors until he retires in 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220412005910/en/Greg Garland
The board of directors of Phillips 66 (NYSE:PSX) has appointed Denise R. Cade and Douglas T. Terreson to serve as independent directors, effective July 14, 2021. Cade will serve on the audit and finance committee and the public policy and sustainability committee of the board, and Terreson will serve on the human resources and compensation committee and the public policy and sustainability committee of the board. Following the appointments, the board of Phillips 66 will comprise 11 directors, 10 of whom are independent. Cade is the Senior Vice President, General Counsel and Corporate Secretary of IDEX Corporation, a position she has held since 2015. Prior to joining IDEX, she served as Sen