|Bid||89.86 x 800|
|Ask||90.27 x 1100|
|Day's Range||89.06 - 90.60|
|52 Week Range||78.44 - 123.97|
|Beta (3Y Monthly)||0.93|
|PE Ratio (TTM)||7.94|
|Earnings Date||Jul 26, 2019|
|Forward Dividend & Yield||3.60 (4.01%)|
|1y Target Est||116.87|
President Trump confirmed he cancelled the strike on Iran because the potential Iranian deaths won't be 'proportionate' to the unmanned U.S. drone that Iran shot down earlier this week. Heritage Foundation Vice President James Carafano joins Yahoo Finance's Seana Smith along with Kramer Capital Research CIO Hilary Kramer.
An explosion and fire at rocked largest refinery complex on the East Coast in Philadelphia Friday morning. That sent gasoline prices higher as the summer driving season kicks off. GasBuddy's Dan McTeague talks to Yahoo Finance's Julie Hyman and Adam Shapiro.
With expansion of operations in the Middle East, Chevron Phillips Chemical, formed by Chevron (CVX) and Phillips 66 (PSX), will capitalize on the mounting need for petrochemical products.
“The supply is going to be abundant,” Chevron's downstream president said of the Permian Basin. “So if you can take advantage of that crude as close to the source as possible, that will be the greatest incentive to invest.”
The ethane cracker would be the largest in the Middle East — and one of the largest in the world — according to Reuters.
Phillips 66 is the latest in a long list of companies trying to build an oil export terminal along the U.S. Gulf Coast.
The Woodlands-based Chevron Phillips Chemical Company LLC — a joint venture between California-based Chevron Corp. (NYSE: CVX) and Houston-based Phillips 66 (NYSE: PSX) — reportedly has made a multibillion-dollar offer to acquire Nova Chemicals Corp. People familiar with the matter told Reuters that the offer totaled more than $15 billion, including debt, for the Canada-based plastics company, but there's no certainty that Abu Dhabi’s sovereign wealth fund Mubadala Investment Co., which owns Nova, will accept the deal. It's also possible that another bidder could still emerge or that Mubadala could decide to retain a stake in Nova, some of the sources added.
Phillips 66 (NYSE: PSX) executive management will host a conference call webcast at noon EDT on Friday, July 26, to discuss the company’s second-quarter 2019 financial results, which will be released earlier that day, and provide an update on strategic initiatives. To access the webcast, go to the Phillips 66 Investors site, www.phillips66.com/investors, and click on “Events and Presentations.” A replay of the webcast will be archived on the Investors site approximately two hours after the live call, and a transcript also will be available at a later date. Phillips 66 is a diversified energy manufacturing and logistics company.
Chevron Phillips Chemical offered to acquire Nova Chemicals for more than $15 billion including debt, Reuters reported Thursday, citing people familiar with the matter. , the multinational energy companies based respectively in San Ramon, California, and Houston. Nova is a unit of Mubadala Investment of Abu Dhabi.
Phillips 66’s earnings are estimated fall by 37% to $7.4 per share in 2019. Notably, in 2018, Phillips 66’s adjusted EPS stood at $11.7. The company is expected to post EPS of $2.3 in Q2 2019, about 16% lower YoY.
Wall Street analysts expect refining firms' earnings to fall in 2019. Delek US Holdings (DK) and Valero Energy’s (VLO) earnings are estimated to fall less than 10% in 2019. However, the EPS of Marathon Petroleum (MPC), HollyFrontier (HFC), and Phillips 66 (PSX) are expected to fall 20%–40% this year.
The deepwater terminal will not only expand Phillips 66's (PSX) logistics business but will also compete with several other export facilities planning to dispatch domestic oil across the globe.
The federal governments EIA report revealed that crude inventories fell by 3.1 million barrels for the week ending Jun 14, after rising to a nearly 2-year high in the previous week.
The top executive at Houston-based Phillips 66 (NYSE: PSX) sees opportunities to expand his company’s existing pipeline infrastructure. Phillips 66 is one of the joint venture owners behind the Dakota Access Pipeline, which pulls crude oil out of the Bakken shale and sends it south toward coastal refining and export centers. Greg Garland, CEO and chairman of Phillips 66, said that pipeline has been running at capacity, and he thinks it could expand further.
(Bloomberg) -- Phillips 66 is looking to build an offshore export terminal in the Gulf of Mexico, a project that would join a growing list of facilities being planned to handle the growing shipments of U.S. shale oil.The proposed deepwater port would be located about 21 nautical miles off the Texas coast, near the Port of Corpus Christi, the company said Wednesday in a statement. Phillips 66, the largest U.S. refining company by market value, would construct two parallel pipelines to carry crude to the facility’s two floating jetties, known as single-point mooring buoys, according to people familiar with the matter, who asked not to be named because the plan hasn’t been announced.Any offshore terminal would require approval from the U.S. Coast Guard and the U.S. Department of Transportation’s Maritime Administration.The proposed project “would provide an additional safe and environmentally sustainable solution for the export of abundant domestic crude oil supplies from major shale basins to global markets,” Dennis Nuss, a spokesman, said in an emailed statement.Phillips is already a partner in a venture to develop a deepwater marine terminal in Ingleside, Texas. Going ahead with an offshore project as well would put the company in direct competition with commodity trading house Trafigura Group Ltd., which is developing its own terminal in the Gulf of Mexico. That proposal has faced opposition from the Port of Corpus Christi, which along with The Carlyle Group is developing an onshore export terminal. (Updates with comment from company beginning in second paragraph.)\--With assistance from Sheela Tobben.To contact the reporters on this story: Rachel Adams-Heard in Houston at firstname.lastname@example.org;David Wethe in Houston at email@example.comTo contact the editors responsible for this story: Simon Casey at firstname.lastname@example.org, Christine BuurmaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Phillips 66 is weighing whether to build an offshore export terminal in the Gulf of Mexico, a project that would join a growing list of facilities being planned to handle growing shipments of U.S. shale oil.
HollyFrontier (HFC) stock has fallen 18% in the second quarter. A weak refining environment weakened impacted HFC stock in the fourth quarter, causing its 50 DMA (day moving average) to break below its 200 DMA.
C&J Energy Services (CJ) and Keane Group (FRAC) agreed to merge in an all-stock deal, while Phillips 66 (PSX) unveiled plans to form two pipeline project joint ventures for crude oil transportation.
Refining margins primarily affect refining earnings. Leading US refiners publish refining margin indicators periodically to show how these margins could currently be trending. An analysis of these indicators could hint at the possible direction of companies' refining margins and earnings.
A pair of proposed pipelines will give the Port of Corpus Christi access to oil from Oklahoma and North Dakota for the first time. Houston-based Phillips 66 (NYSE: PSX) announced Monday that it plans to build one pipeline to move crude oil from the North Dakota's Bakken Shale oil fields to Cushing, Oklahoma, and one that will move the product from Cushing to Corpus and other ports along the Gulf Coast. Phillips is partnering with Bridger Pipeline LLC to build the Bakken-to-Cushing line and with Plains All American Pipeline (NYSE: PAA) for the Cushing-to-Gulf Coast line.