|Bid||106.75 x 800|
|Ask||106.81 x 800|
|Day's Range||106.60 - 107.77|
|52 Week Range||78.44 - 110.65|
|Beta (3Y Monthly)||1.14|
|PE Ratio (TTM)||9.21|
|Earnings Date||Oct 25, 2019|
|Forward Dividend & Yield||3.60 (3.36%)|
|1y Target Est||119.72|
Phillips 66 Partners LP set spot rates of $4.75 a barrel to ship crude on its new 900,000-barrel-per-day (bpd) Gray Oak crude pipeline within points in Texas, according to a filing this week. * The company also set rates at $4.75 a barrel to transport crude within Texas for committed shippers. * It was not immediately clear what rates were for transport to delivery points in the Houston and Corpus Christi, Texas, areas.
Transition to a more disciplined capital spending approach within the exploration and production space is likely to have impacted Halliburton's (HAL) third-quarter performance.
ConocoPhillips (COP) entered into an agreement to sell some of its portfolio in Australia for $1.39 billion. Meanwhile, downstream major Phillips 66 (PSX) launched a $3 billion new buyback program.
Schlumberger's (SLB) Reservoir Characterization and Production segments are expected to have generated lower earnings than the year-ago period.
Refiners have had a mixed October so far. Marathon Petroleum (MPC), Valero Energy (VLO), and Phillips 66 (PSX) are up, but HollyFrontier (HFC) has slumped.
Although energy stocks as a group have been lagging behind the broader market, oil refiners have outperformed the sector in recent weeks. Refiners are down 2% in the past three months, while the energy sector overall, as tracked by the exchange-traded fund (XLE), is down 9%. Goldman Sachs analyst Neil Mehta thinks investors should consider buying (MPC) (ticker: MPC), (PSX)(PSX), and (VLO) (VLO).
Phillips 66 tentatively chartered a supertanker to ship U.S. crude from the U.S. Gulf Coast to South Korea for a record $14 million this week, sources said Thursday, as tanker rates continued to soar after U.S. sanctions on units of Chinese giant COSCO. Phillips 66 provisionally chartered the Very Large Crude Carrier (VLCC) Olympic Laurel for $14 million and is expected to load in mid-November, according to Refinitiv Eikon data. The United States in late September imposed sanctions on two units of China's COSCO, which operates more than 50 supertankers, alleging the units violated U.S. sanctions on Iran.
Phillips 66 (PSX) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
The federal government's EIA report revealed that crude inventories rose by 2.9 million barrels, compared to the 2.4 million barrels increase that energy analysts had expected.
Hedge funds and other investment firms run by legendary investors like Israel Englander, Jeffrey Talpins and Ray Dalio are entrusted to manage billions of dollars of accredited investors' money because they are without peer in the resources they use to identify the best investments for their chosen investment horizon. Moreover, they are more willing to […]
Phillips 66 (PSX) to allocate roughly 60% of its operating cash flow for business investments. The remaining 40% is likely to be returned to its shareholders via share buybacks and dividend payments.
Houston’s largest publicly traded company by revenue, Phillips 66 (NYSE: PSX), has a new independent director — former Walmart Inc. (NYSE: WMT) CFO Charles Holley. Phillips 66, which owns and operates downstream and midstream assets, tapped Holley for the job Oct. 4, and he will hold his seat on the board of directors until the next annual shareholder meeting in 2020, according to a company filing with the U.S. Securities and Exchange Commission.
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The federal government's EIA report revealed that crude inventories rose by 3.1 million barrels, compared to the 1.3 million barrels increase that energy analysts had expected.
The board of directors of Phillips 66 has appointed Charles M. Holley to serve as an independent director, effective Oct. 4, 2019. Holley will serve on the Audit and Finance Committee and the Public Policy Committee of the board.
It pays to work at many of the largest public companies based in the Houston area. See how much the median employees at the 25 highest-paying local companies make.
Phillips 66 (PSX) announced that the board of directors has approved a new share repurchase program that authorizes the company to repurchase up to $3 billion of its common stock, bringing the total amount of share repurchase programs authorized by the board since 2012 to an aggregate of $15 billion. The board also declared a quarterly dividend of 90 cents per share on Phillips 66 common stock. The dividend is payable on Dec. 2, 2019, to shareholders of record as of the close of business on Nov. 18, 2019.
The Washington law, SB5579, which went into effect earlier this year, limits crude oil by rail deliveries into the refineries around Puget Sound through both a cap on off-loadings from existing facilities and limits on a technical specification known as Reid Vapor Pressure (RVP). The RVP limit is written to clearly target shipments of crude oil from the Bakken field of North Dakota and Montana by rail into Washington. Various reports put movements of Bakken crude oil into Washington at 160,000 to 175,000 barrels per day (b/d).
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