Phillips 66 (PSX) has dominated the news recently due to its interactions with activist investor, Elliott Management. Elliott has confirmed nominations for seven directors at Phillips 66, underlining its call for substantive changes at the company. Despite Phillips 66’s decreased earnings over the past five years, the stock has risen by 118% within the same period indicating a significant return on investment. Many finance and wealth management companies have recently invested in large quantities of PSX shares such as Raymond James Financial Inc., LVZ Inc., and M&T Bank Corp. Chevron is reportedly considering acquiring a stake in PSX’s chemical sector, increasing the company's worth. This is compounded by the fact that Phillips 66 announced its quarterly dividend. However, in other developments, Phillips 66 was downgraded to 'Sell' by StockNews.com. Nevertheless, Phillips 66 also gave notice of its intention to cease operations at its Los Angeles refinery, revealing its strategic approach to its business segments.
Phillips 66 PSX News Analytics from Sat, 12 Oct 2024 07:00:00 GMT to Sat, 08 Mar 2025 12:02:41 GMT -
Rating 4
- Innovation -2
- Information 8
- Rumor -6
