Investment company Phillips 66 (PSX) has been selected as a choice for top long-term investment picks by Louis Navellier. This follows increased stock positions from multiple firms such as Procyon Advisors LLC, and the successful performance of Phillips 66 in the stock market. Despite a dip in the broader market, the petroleum company saw a rise in their stock. Phillips 66 then proceeded with the acquisition of EPIC NGL, for growing their midstream business in the Permian. Asset shifts were prevalent, as multiple firms sold off shares while other firms purchased. The company secured a $2.2 Billion gas asset deal, earning approval from financial expert Jim Cramer. Phillips faced a price target cut but then made a smart move with their acquisition of EPIC NGL. Phillips 66 was downgraded to 'neutral' from 'overweight' at Piper Sandler but made significant strides with the news of a $2.2 Billion acquisition. Despite the downward shift in the market, Phillips 66 made notable increases and rewarded their shareholders with an announcement of a quarterly dividend. In 2025, Phillips 66 plans to focus on growth with a $3B capital program. The company did suffer a $604.9 million verdict in a fuel trade-secrets case.
Phillips 66 PSX News Analytics from Tue, 16 Jul 2024 07:00:00 GMT to Sat, 18 Jan 2025 16:21:13 GMT - Rating 7 - Innovation 5 - Information 8 - Rumor -4
