Phillips 66 (PSX) shares have experienced both up and down swings recently. The oil-refinery company's stock has risen by
9.2% since the last earnings report, yet has also seen declines. Several organizations, including
Fmr LLC and
The Manufacturers Life Insurance Company, have reduced their holdings in Phillips 66. However, others like
Infrastructure Capital Advisors LLC and
Quantbot Technologies LP have increased their investments. Meanwhile, Phillips 66 faces a hefty
$2.4 million fine for alleged oil dumping in Los Angeles, possibly violating the Clean Water Act. In addition, they anticipate surpassing their
$3 billion asset-sale target. The company announced its intent to
cease operations at a Los Angeles-area refinery and has sold interest in a Switzerland-based joint venture. Despite some market gains, their stock fell, but it has still managed a significant return of
93% over the past three years. They continue to be favored by institutional investors, with a
76% ownership of shares. They have elected Grace Puma Whiteford to their Board of Directors.
Phillips 66 PSX News Analytics from Thu, 16 May 2024 07:00:00 GMT to Sat, 30 Nov 2024 10:42:26 GMT -
Rating 0
- Innovation 4
- Information 7
- Rumor -5
