Elliott Management has increased their stakes in
Phillips 66, amounting to over
$2.5 billion and are pushing for a significant
operational change within the organization. The asset management firm is advocating for the
spin-off Phillips 66's midstream business, which it perceives as a strategic move to elevate the corporation’s stock price. In line with this, financial organizations, including
Van ECK Associates Corp and Strategic Financial Concepts LLC, have amplified their holdings in Phillips 66, demonstrative of a trend of growing investment interest. Yet, some companies like
Beacon Financial Group and Miller Howard Investments Inc. have diminished their stakes in the energy company. Despite a Q4 loss, Phillips 66 managed to outdo revenue predictions. Recently, Phillips 66 announced plans for their next phase of strategic initiatives, which includes a
$1.15 quarterly dividend. Meanwhile,
JP Morgan has reiterated an overweight rating on Phillips 66's stock.
Phillips 66 PSX News Analytics from Wed, 16 Oct 2024 07:00:00 GMT to Sat, 15 Feb 2025 14:49:49 GMT -
Rating 7
- Innovation -3
- Information 6
- Rumor -6
