101.00 -0.01 (-0.01%)
Pre-Market: 7:17AM EDT
|Bid||98.63 x 800|
|Ask||101.00 x 900|
|Day's Range||99.39 - 101.15|
|52 Week Range||78.44 - 123.97|
|Beta (3Y Monthly)||1.06|
|PE Ratio (TTM)||8.93|
|Earnings Date||Jul 26, 2019|
|Forward Dividend & Yield||3.60 (3.56%)|
|1y Target Est||116.40|
Phillips 66's (PSX) distillate production, as a percentage of total throughput, surpasses Valero's (VLO), making its operations more lucrative.
One impact of Hurricane Barry could be a sharp increase in gasoline prices in parts of the country, according to an energy and infrastructure portfolio manager. About half of U.S. refining capacity is near the Gulf of Mexico, with 18% in Louisiana alone. Many of those refineries could be impacted by Tropical Storm Barry, which was projected to drop more than 10 inches of rain on New Orleans and the surrounding region as of the Friday forecast.
The index endured a turbulent week but gained after the Fed Chair indicated that a rate was likely later this month.
The companies have partnered on other similar projects as well — including a recently announced project in Qatar.
Threatened flooding from a tropical storm in the U.S. Gulf of Mexico that cut nearly a third of the region's oil production has forced the shutdown of a coastal refinery, pushing oil and gasoline prices higher on Thursday. Phillips 66 said it expected to complete the closing of its 253,600-barrel-per-day (bpd) Alliance, Louisiana, refinery on Thursday after local authorities ordered a mandatory evacuation of the area. Pipeline operator Enbridge evacuated staff from three offshore platforms and halted operations on some deepwater Gulf of Mexico natural gas pipelines.
Phillips 66 is expected to post an EPS of $2.52 in the second quarter—10% lower than its adjusted EPS in the second quarter of 2018.
Phillips 66 is expected to post its second-quarter earnings on July 26. Since June 7, the implied volatility has declined by 0.8 percentage points.
The board of directors of Phillips 66 has declared a quarterly dividend of 90 cents per share on Phillips 66 common stock. The dividend is payable on Sept. 3, 2019, to shareholders of record as of the close of business on Aug.
The largest change — a 20,100-person increase — was thanks to a multibillion-dollar acquisition that closed in 2018.
Banking on growing demand for plastics, Chevron Phillips Chemical, which is a JV between Chevron (CVX) and Phillips 66 (PSX), is collaborating with Qatar Petroleum to build $8-billion petrochemical plant.
Free cash flow (FCF) is one of the most important financial metrics you can study - especially if you're a buy-and-hold investor.FCF is the cash remaining after a company has paid its expenses, interest on debt, taxes and long-term investments to grow its business. And if a company generates more cash than it needs to run its business, it can do a number of useful things with it, such as pay dividends, buy back its stock, acquire other companies, expand its business and knock out its debts.There's no right answer as to the best way to use free cash flow. But the ability to consistently grow FCF over the long haul - however it's put to use - is a proven recipe for higher share prices.Pacer ETFs compiled FactSet data on the Russell 1000 between Dec. 31, 1991, and Dec. 31, 2018. It found that the 100 stocks with the highest free cash flow yields over this period delivered an annualized total return of 17% - almost seven times the annual returns of the 100 stocks with the worst FCF yields. In short, the higher the free cash flow yield, the better.With that in mind, let's look at 10 free cash flow stocks to buy for the long haul. These companies not only generate high amounts of FCF, but put it to good use via dividends, buybacks and more. We'll use the Pacer US Cash Cows 100 ETF (COWZ), and its 100 high-FCF-yield components, as a guide.
(Bloomberg) -- Oil extended its gains as a report of a sharp drop in U.S. crude stockpiles added to Middle East tensions already raising the prospect of strained supplies.Futures spiked as much as 2.5% in New York after the American Petroleum Institute was said to report an 8.13 million-barrel decline in oil inventories last week. That’s more than twice the median estimate of analysts in a Bloomberg survey. It would be the fourth straight weekly drop if confirmed by government data due on Wednesday.The draw-down “should set the stage for a rebound," said Phil Flynn, a senior market analyst at Price Futures Group Inc. in Chicago. Prices have been weighed down this month by fears of slowing demand.West Texas Intermediate oil for August delivery rose 71 cents, or 1.2%, to $58.37 a barrel on the New York Mercantile Exchange at 4:50 p.m., after settling at $57.83. Brent crude for September settlement added 44 cents to $64.55 a barrel on the ICE Futures Europe Exchange, erasing an earlier loss.Refined products offered a more mixed outlook on demand in the API’s report. A drop in gasoline inventories of 257,000 barrels was below analyst estimates, while the 3.69 million-barrel decline in distillate fuels was more than four times higher than expected.WTI crude had finished the official trading session up 0.3% on Tuesday, boosted by continued conflicts in the Persian Gulf. A BP Plc ship remained parked off Saudi Arabia after Iranian officials suggested they might retaliate for the seizure of one of their own vessels last week.Crude has slipped this month despite heightening risks of a military confrontation with Iran and a decision by the Organization of Petroleum Exporting Countries and its allies to extend output curbs. Although the U.S. and China announced a resumption of trade talks late last month, worries persist about weakening demand.“Given the continued presence of sanctions and tensions between the U.S. and Iran, the ongoing trade war between the U.S. and China, and the potential for an economic slowdown, oil prices are likely to remain volatile in the short term," said Michael Laitkep, an analyst at Alerian, which tracks energy infrastructure companies.Investors are also awaiting Federal Reserve Chairman Jerome Powell’s testimony before the U.S. Congress on Wednesday and Thursday. Powell will be watched closely for an indication of whether the Fed is likely to cut U.S. interest rates at its next meeting on July 31.\--With assistance from Sharon Cho.To contact the reporters on this story: Alex Nussbaum in New York at email@example.com;Grant Smith in London at firstname.lastname@example.orgTo contact the editors responsible for this story: David Marino at email@example.com, Catherine TraywickFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The company has not yet choses a specific site, though it has applied for tax incentives at one so far.
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.
Red Oak Pipeline LLC announced today that it has launched a supplemental open season seeking additional crude oil transportation commitments for service from origins in Oklahoma and Texas to Gulf Coast destinations including Corpus Christi, Ingleside, Houston, and Beaumont, Texas.
Let's look at what analysts expect for refining companies Marathon Petroleum (MPC), HollyFrontier (HFC), Valero Energy (VLO), and Phillips 66 (PSX) in the second quarter.
The pipeline projects of Phillips 66 (PSX) will assure producers in Bakken and Rockies that their increased production of crude oil volumes will be transported to key destinations in the United States and across the globe.
Let's review the forward valuations of refiners Phillips 66 (PSX), Marathon Petroleum (MPC), Valero Energy (VLO), and HollyFrontier (HFC).
Bridger Pipeline LLC, together with its affiliates, Liberty Pipeline LLC, and Red Oak Pipeline LLC announced today that they have launched a supplemental open season seeking additional crude oil transportation commitments for joint service from production areas in the Rockies and Bakken to Cushing, Oklahoma and Gulf Coast destinations including Corpus Christi, Ingleside, and Houston, Texas.
Natural gas prices have seen some volatility over the past few months, bouncing between highs near $3.00 per million British thermal units (MMBtu) and lows just above $2.50. The commodity currently trades at roughly $2.