Phillips 66 (PSX) has shown a steady performance in the market despite certain fluctuations. The company has seen a surge in institutional ownership, now holding 76-78% of the company's stake, suggesting trust in PSX's long-term strategy. Analysts have given the company a consensus rating of 'Moderate Buy', with new price targets set at $160.00 and $155.00. PSX is currently looking at asset divestment, including talks to divest its Alliance Refinery and Rockies Express Pipeline stake. At the same time, it has acquired all public DCP Midstream units and lucrative Midland Basin Assets. Q1 2024 Earnings highlighted strategic Initiatives, although they missed analyst EPS estimates. Financials reveal PSX's earnings and revenues beat estimates, offering a 15% CAGR to shareholders over the past five years. PSX has also embarked on community development initiatives and persists with their Retain Strategy. A report understates their 2024 sustainability and people's vision. However, there are concerns about PSX underperforming the S&P500 and using too much debt. PSX is exploring global fuel-market growth while managing their asset base to meet peak summer demand.
Phillips 66 PSX News Analytics from Wed, 20 Dec 2023 08:00:00 GMT to Sun, 23 Jun 2024 12:31:20 GMT -
Rating 7
- Innovation 3
- Information 6
- Rumor -5
