Phillips 66 (PSX) has been facing a tumultuous period, with its share price enduring significant volatility. Activist investor firm
Elliott Management has been exerting pressure on the company, instigating shareholder discontent due to perceived operational inefficiencies, a lack of CEO effectiveness, and poor value creation. They have proposed changes that they claim could propel the PSX share price to reach $200. Indeed, various investment groups have been increasing their stock holdings in Phillips 66, indicating some investor confidence.
Earnings forecasts, however, anticipate a decline. Controversially, Elliott has launched a
Podcast Diplomacy effort discussing expert insights into the company, yet again highlighting their activist stance. Elliott is not the only one voicing concerns - a third-party survey discovered that PSX shareholders rank the company poorly in various areas.
In response to mounting discontent, Phillips 66 has completed the
acquisition of EPIC NGL, while also stating its opposition to the nominations for the board by Elliott and engaged in public letters with shareholders defending their position.
Phillips 66 PSX News Analytics from Wed, 11 Dec 2024 08:00:00 GMT to Sat, 19 Apr 2025 13:00:09 GMT -
Rating -2
- Innovation -3
- Information -1
- Rumor -4
