59.00 +0.37 (0.63%)
Pre-Market: 8:36AM EDT
Triple Moving Average Crossover
|Bid||58.06 x 1800|
|Ask||60.14 x 900|
|Day's Range||58.01 - 61.56|
|52 Week Range||40.04 - 119.92|
|Beta (5Y Monthly)||1.38|
|PE Ratio (TTM)||8.66|
|Earnings Date||Apr 30, 2020|
|Forward Dividend & Yield||3.60 (6.14%)|
|Ex-Dividend Date||Feb 13, 2020|
|1y Target Est||91.88|
Moody's Investors Service (Moody's) assigned A3 senior unsecured rating to Phillips 66's proposed offerings of two tranches of senior notes. Phillips 66's existing ratings, including the A3 long-term issuer and senior unsecured ratings, and the stable outlook are unchanged. "Phillips 66 has excellent liquidity and the issuance of term loan debt and notes will increase its cash balance, which we expect will fund negative free cash flow in 2020," commented James Wilkins, Moody's Vice President -- Senior Analyst.
Driven by the ongoing trough in oil prices, Chevron (CVX), Equinor (EQNR) and Eni (E) made announcements on spending cuts.
The gap between the compensation of Phillips 66’s CEO and that of its median employee widened in 2019 by a significant margin over the gap in 2018. CEO Greg Garland made more than $10 million more in 2019 than he did in the prior year, with his total compensation ending the decade at about $31.
The stocks have arguably already taken all of that into account and then some, Jefferies analyst Chritopher Sighinolfi argues.
U.S. stocks snapped back from the three-year lows on Tuesday, ending in the green after U.S. lawmakers said they will come to an agreement on a fiscal package to combat the economic impact of COVID-19.
The scheduled shutdowns, also known as turnarounds, are for plant maintenance, repairs and upgrades, and often last several months. The company also said its first-quarter refinery utilization should be around the low-to-mid 80% range, adding it was nearing minimum crude rates at "many" of its refineries. Company executives, speaking on a conference call on Tuesday, declined to elaborate on the expected shutdowns.
Houston-based Phillips 66 (NYSE: PSX) is the latest major energy company to slash spending plans for 2020. The cuts include a $700 million reduction in 2020 capital spending, bringing Phillips 66's budget to $3.
As U.S. crude prices last week touched their lowest point in nearly two decades, oil and gas companies are rushing to cut back on their spending so they can maintain profitability and calm worried investors about their ability to pay dividends. Oil major Chevron on Tuesday cut its spending budget by 20% and also committed to protecting its dividend. Phillips 66 said it now expects consolidated spending for the year to be about $3.1 billion, a $700 million reduction from its earlier forecast.
Phillips 66 said Tuesday it is reducing 2020 capital spending by $700 million to $3.1 billion. The Houston-based energy and logistics company said it will defer and cancel certain discretionary proejcts and will reduce operationg costs by $500 million. The company is temporarily suspending its share buyback program after buying back about $440 million worth in the first quarter. The company has secured a new $1 billion, 364-day term loan facility, which will provide additional liquidity to its existing $5 billion revolving credit facility. Phillips 66 Partners has a $750 million revolver. "We will continue to closely monitor market conditions and evaluate the impact on our portfolio," Chief Executive Greg Garland said in a statement. "We are prepared to take additional action as needed." Shares rose 9% premarket Tuesday, but have fallen 56% in the last 12 months, while the S&P 500 has fallen 20%.
Phillips 66, a diversified energy manufacturing and logistics company, announces actions in response to the challenging business environment.
NEW YORK, NY / ACCESSWIRE / March 20, 2020 / Pyxis Tankers, Inc. (NASDAQ:PXS) will be discussing their earnings results in their 2019 Fourth Quarter Earnings call to be held on March 20, 2020 at 8:30 AM ...
Phillips 66 has changed the date of its first-quarter earnings conference call to Friday, May 1 at noon EDT.
Russia and Saudi Arabia are battling each other and America’s shale producers. There will be casualties, but some U.S. drillers, shippers, and refiners will survive to fight another day.
To the annoyance of some shareholders, Phillips 66 (NYSE:PSX) shares are down a considerable 39% in the last month...
Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]
The Zacks Analyst Blog Highlights: ExxonMobil, Chevron, Royal Dutch Shell, Phillips 66 Partners and BP Midstream Partners
Brian Kessens, Tortoise Portfolio Manager, joins On The Move to discuss how the oil sector is faring amid the coronavirus despite Saudi Aramco’s report that it will be able to produce 12 million barrels a day starting on April 1.