Phillips 66, reported an overall
decrease in stake held by several institutions including Spirit of America Management Corp NY, abrdn plc, State of Alaska Department of Revenue, and Great Diamond Partners LLC. Numerous others increased their stake, such as
Elm3 Financial Group LLC and
Choreo LLC. The company announced
mixed earnings results, reportedly
missing the Wall Street estimates in Q4 but topping revenue estimates. Its shares
surged up 3.84% on Feb 4, only to decrease following the uninspiring earnings’ result. There was stock price reaction to their
profit plunge in Q4 due to weak refining margins. A focus on
NGL and
midstream acquisitions, however, is expected to pay off in 2024. In strategic movements, Phillips 66 has made an intelligent acquisition of
EPIC NGL to strengthen its natural gas liquids bet, an action applauded by Jim Cramer.
Elliot Management adds activist pressure and there's projected earnings release ahead. The company suffered a downgrade to 'sell' by StockNews.com and a price target lowering by TD Cowen.
Phillips 66 PSX News Analytics from Sat, 10 Aug 2024 07:00:00 GMT to Sat, 08 Feb 2025 10:34:59 GMT -
Rating 4
- Innovation -3
- Information 8
- Rumor -6
