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Phillips 66 PSX - News Analyzed: 3,999 - Last Week: 100 - Last Month: 500

↗ Mixed Market Performance and Asset Development for Phillips 66 (PSX)

Mixed Market Performance and Asset Development for Phillips 66 (PSX)

There has been a flurry of activity concerning Phillips 66 (PSX) recently. Beacon Financial Group and Creekmur Asset Management LLC have both increased their positions, with purchases of 120 and 7,289 shares respectively. In contrast, Chelsea Counsel Co. and Auxier Asset Management have reduced their stakes in the company. PSX has also seen mixed performance in the market, with instances of both over and underperformance.

The company announced the sale of a 25% equity interest in Rockies Express Pipeline for $685M to a Tallgrass Energy subsidiary. Additionally, PSX has initiated an open season for the Blue Line System and has acquired lucrative Midland Basin Assets. Looking ahead, Phillips 66 is preparing to announce their second-quarter financial results. Despite some underperformance, several analysts recommend the stock as a top-ranked value buy.

Moreover, the company's financial fundamentals look strong and shareholders have enjoyed a respectable 15% compound annual growth rate (CAGR) over the last five years. There was a dip in market performance when earnings missed analyst estimates, but overall the company is seeing global fuel-market growth even as US demand plateaus.

Phillips 66 PSX News Analytics from Wed, 24 Jan 2024 08:00:00 GMT to Sun, 16 Jun 2024 19:08:27 GMT - Rating 2 - Innovation 2 - Information 9 - Rumor -6

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