|Bid||128.28 x 1300|
|Ask||128.33 x 900|
|Day's Range||122.41 - 128.91|
|52 Week Range||89.74 - 128.91|
|Beta (5Y Monthly)||1.34|
|PE Ratio (TTM)||7.78|
|Earnings Date||Jan 29, 2024 - Feb 02, 2024|
|Forward Dividend & Yield||4.20 (3.44%)|
|Ex-Dividend Date||Nov 16, 2023|
|1y Target Est||131.57|
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Shares of Phillips 66 (PSX) climbed Wednesday afternoon after activist investment firm Elliott Investment Management announced a $1 billion stake in the energy company. Along with the major equity investment, Elliott is seeking two board seats in a bid to help drive improved execution and performance at Phillips 66. Yahoo Finance's Josh Lipton and Julie Hyman break down the details of this trending ticker. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
U.S. equities were mixed at midday on Thursday, Nov. 30, 2023 as a report showed inflation eased to its lowest level since 2021, raising optimism the Fed would not hike rates further.
The activist investment firm has taken a $1 billion stake in Phillips 66, flagging that the company's stock, recently trading at about $118 per share, could hit $200 with improvements. It said management had laid out sensible performance targets but could use help achieving its full potential. "We agree with Elliott that successful execution of our strategic priorities will drive substantial stock price performance and believe that we have the right management team and Board in place to deliver long-term, sustainable value," the refiner said in a statement after the markets closed.