Phillips 66 (NYSE:PSX) has displayed varied stock performance, with periods of gains and underperformances. Recently, the company faced
federal charges for illegal wastewater dumping, accused of violating the Clean Water Act. Despite these challenges, certain financial entities like Thrivent Financial and Charles Schwab Investment Management have increased their stakes. Phillips 66 has also recorded some positive strategic moves and had a fairly solid financial performance, as indicated in their Q3 2024 Earnings Call. However, the company’s shares are continuously being sold off by different investment agencies. The company's total assets stood at $6,037 Million as of September 2024. Increased short interest and alleged oil dumping issues have impacted the company. Yet,
Phillips 66 received a consensus rating of 'Moderate Buy' from analysts. Importantly, despite a market downturn, Phillips 66's stock showed resilience in Q3 with its financial results exceeding expectations, while revenues decreased YoY. Phillips 66 also surpassed its $3 billion Asset-Sale target in Q3, along with announcing a quarterly dividend.
Phillips 66 PSX News Analytics from Thu, 16 May 2024 07:00:00 GMT to Sat, 23 Nov 2024 11:32:57 GMT -
Rating -2
- Innovation 2
- Information 7
- Rumor -5
