Phillips 66 (PSX) has dominated the news cycle recently for various reasons. Major shareholders, including
California State Teachers Retirement System and Public Employees Retirement System of Ohio, have sold their shares in the company, while other investment firms such as
111 Capital and Vise Technologies Inc. have increased their holdings. The company's share price fluctuations have raised concerns, despite assertions from personalities such as
Jim Cramer that the stock is undervalued. Amidst this, Phillips 66 has announced plans to
divest its majority interest in its Germany and Austria retail marketing businesses. Its
annual shareholder meeting saw new directors elected amidst
Elliott's campaigns for a vote for change. Other notable events include potential layoffs at its
Los Angeles refinery starting in December and a
losses in Q1 earnings despite top revenue estimates. Amidst these developments, calls for
urgent board changes by Glass Lewis and Elliott Management have surfaced.
Phillips 66 PSX News Analytics from Mon, 10 Mar 2025 07:00:00 GMT to Sat, 31 May 2025 21:45:10 GMT -
Rating -3
- Innovation 4
- Information 7
- Rumor 2
