Phillips 66 (PSX) continues to draw interest with its strong fundamentals. Instituational investors have seen beneficial returns with a robust ownership of 76 to 78%. The company outperformed the market, even showing gains while the broader market declined. There were movements in share ownership, such as purchase of shares by various asset management firms and some selling of shares by other firms. PSX beat Q3 earnings but missed on revenue forecasts while Q1 2024 earnings were reported as a miss on analyst EPS estimates. The company's stock price fluctuates, but overall the firm has been seeing a rising trend. Additionally, PSX marked strides in renewable fuel production, ramping up production as it completes its conversion at its Rodeo complex. There are ongoing strategic initiatives, including potential asset sale, with the CEO confident about the future and even divesting its stake in Rockies Express Pipeline. PSX rewarded investors with a dividend hike and saw a successful earnings call for Q4 2023. Meanwhile, analysts at JPMorgan Chase & Co, Barclays and Zack's Research revised PSX's price targets.
Phillips 66 PSX News Analytics from Fri, 27 Oct 2023 07:00:00 GMT to Sun, 07 Jul 2024 09:21:07 GMT -
Rating 6
- Innovation 4
- Information 7
- Rumor -5
