Phillips 66 (PSX) has reported
Q2 2024 earnings beating prior expectations. Revenue has increased year on year, driven by
higher midstream revenue, and strong operational strategies. The share price has been positively adjusted by Raymond James and has seen fluctuations with the market.
Institutional ownership dominates at 76%, with firms such as Cetera Advisors LLC and Lazard Asset Management LLC increasing their stake. Despite this, some analysts express concern about the company's debt management while others argue its use is reasonable. PSX's stock value has declined whilst the overall market has improved. The company recently divested its stake in
Rockies Express Pipeline while also
acquiring lucrative Midland Basin Assets. Regardless of earnings, some investors remain hesitant. PSX continues to reward its investors with
dividend hikes and ramping up the production of
renewable fuels. The company's Q1 2024 earnings
missed estimates with the company emphasizing strategic initiatives instead.
Phillips 66 PSX News Analytics from Wed, 31 Jan 2024 08:00:00 GMT to Sun, 04 Aug 2024 20:46:00 GMT -
Innovation -5
- Information 6
- Rumor -3
