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Phillips 66 Message Board

  • coderogers coderogers Mar 20, 2013 12:00 PM Flag

    Great performance

    Ever since the spin-off. All refinery stocks have shot up into the stratosphere as of late. Great for holders of this company.

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    • Refining will make up less and less of their revenue & EARNINGS as they expand into midstream, by themselves and with SE partnership DCP, Chemicals, with partner CVX and specialty motor oils and additives. There is a great chart in their February 5th presentations (On the PSXsite) that shows the percentage today and then in the future. Basically, Refining,Marketing and Specialties go form about 70% of the business to about 40%, while chemicals goes from 20% to 30% and midstream goes form about 10% to 30%. Refining is doing great right now, but historically it has been an up and down business. On the other hand both chemicals and midstream have more consistent returns on equity of over 20%.

      Sentiment: Hold

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