Mizuho Markets Americas LLC and
Mizuho Securities USA LLC have bought significant positions in Phillips 66 (NYSE:PSX).
Victory Capital Management Inc and
ING Groep NV also acquired a good number of Phillips 66 shares.
Phillips 66 steady performance in the stock market outperforms others, showing both resilience and fluctuations regardless of the market movements. The company's Q3 2024 calls highlighted its
strategic moves and
financial performance which suggests an overall positive outlook, despite a dip in earnings.
Elliot management has applied activist pressure on the firm. Phillips 66 also showed eagerness to expand past its traditional refining roots, indicating an innovative approach to growth, yet it was hit with a substantial
$604.9 million US verdict over a fuel trade-secrets case that may hamper future performance. Interestingly, the company plans to close a
Los Angeles-based refinery, while actively selling interests in non-core assets including a Switzerland-based joint venture. Some project a global refining shortage next year, which may impact the company's finances, yet Phillips 66 remains a favorite amongst institutional investors, due to its consistent dividend growth.
Phillips 66 PSX News Analytics from Thu, 16 May 2024 07:00:00 GMT to Sat, 16 Nov 2024 14:33:38 GMT -
Rating 4
- Innovation 0
- Information 6
- Rumor -2
