The Phillips 66 (PSX) stock has shown an interesting performance recently. Despite missing earnings estimates in **Q1**, revenues have **increased** compared to last year. Furthermore, PSX has exhibited **unusual options activity** and they have announced that **dividends will be paid** in the short term. A **price target** has been set at $170.00, and it has been reported that Phillips will **acquire all public DCP Midstream Units**. Despite a recent earnings miss, the stock has largely **outperformed the market** and is indicated to be a good momentum purchase. Looking ahead, the company has plans to invest **$3 billion** in midstream operations. As of late, PSX has particularly caught the attention of investors. Even though the stock missed analyst EPS estimates for Q1 2024, Phillips 66 has expressed its intention of considering a **pipeline stake sale** worth more than one billion dollars. There have, however, also been concerns over the **compensation of the CEO**, and the company's stock is considered **undervalued** by 25%, according to some experts. News of an **asset sale exploration** and a **hike in quarterly dividends** have also been reported. **Institutional ownership** is at 78%, and a high three-year return rate of 87% has been seen by shareholders. Yet, news of the **resignation** of the EVP of Midstream and Chemicals, Timothy D. Roberts, has also been announced. The company has successfully expanded renewable fuel production at Rodeo and anticipates global growth in the fuel market, even while US demand is expected to plateau.
Phillips 66 PSX News Analytics from Wed, 29 Nov 2023 08:00:00 GMT to Sat, 18 May 2024 12:16:00 GMT -
Rating 5
- Innovation -5
- Information 7
