45 stories mentioning PSX
Every FINWIRES story that references PSX, newest first.
Phillips 66 (PSX) has an average rating of overweight and mean price target of $187, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $177.03, Change: $+3.54, Percent Change: +2.04%
Phillips 66 (PSX) has an average rating of overweight and mean price target of $187 according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $175.03, Change: $+1.54, Percent Change: +0.89%
Phillips 66 (PSX) has an average rating of overweight and mean price target of $185.11 according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Energy stocks rose Wednesday with the NYSE Energy Sector Index adding 2% and the State Street Energy Select Sector SPDR ETF (XLE) gaining 2.1%.The Philadelphia Oil Service Sector Index advanced 0.9%, and the Dow Jones US Utilities Index shed 1.2%.Oil prices rallied after US President Donald Trump reportedly rejected an Iranian proposal to lift the naval blockade. Trump told Axios he will maintain the US naval blockade of Iranian ports until Tehran agrees to a nuclear deal.West Texas Intermediate crude oil jumped 8% to $107.90 a barrel, and global benchmark Brent climbed 7.8% to $119.89 a barrel. Henry Hub natural gas futures for May fell 1.7% to $2.65 per 1 million BTU.US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 13.4 million barrels in the week ended Friday following a decrease of 2.2 million in the previous week. Excluding inventories in the SPR, commercial crude oil stocks dropped by 6.2 million-barrels after an increase of 1.9 million increase in the previous week, more than the drop of 190,000 expected in a survey compiled by Bloomberg.In corporate news, Phillips 66 (PSX) shares jumped 5%. The company reported Q1 adjusted earnings of $0.49 per diluted share, swinging from the loss of $0.90 a year earlier. Analysts polled by FactSet expected a loss of $0.54.Entergy (ETR) reported Q1 adjusted earnings of $0.86 per share, up from $0.82 a year earlier. Analysts polled by FactSet expected $0.84. The stock rose 1.3%.Bloom Energy (BE) shares surged 27% a day after the company reported Q1 adjusted earnings $0.44 per diluted share, up from $0.03 a year earlier. Analysts polled by FactSet expected $0.12.TotalEnergies (TTE) shares rose 1.4% after the company posted higher Q1 adjusted earnings and revenue.
(Updates with the latest stock move in the headline and in the first paragraph.)Phillips 66 (PSX) shares were up 4.6% in Wednesday trading after the company posted Q1 earnings compared with a loss last year and raised its annualized quarterly dividend.The company reported quarterly adjusted earnings of $0.49 per diluted share, swinging from an adjusted loss of $0.90 a share a year earlier.Analysts polled by FactSet expected a non-GAAP loss of $0.54 a share.The company raised its annualized quarterly dividend by 7%, according to the statement.Price: $173.00, Change: $+7.87, Percent Change: +4.77%
Energy stocks were higher Wednesday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each rising about 2%.The Philadelphia Oil Service Sector Index was increasing 0.5%, and the Dow Jones US Utilities Index was shedding 0.5%.Oil prices rallied Wednesday after US President Donald Trump reportedly rejected an Iranian proposal to lift the naval blockade. Trump told Axios on Wednesday he will maintain the US naval blockade of Iranian ports until Tehran agrees to a nuclear deal. Iran wanted the Strait of Hormuz opened before the two sides could sit down to discuss uranium enrichment at a later stage.Front-month West Texas Intermediate crude oil jumped 7.3% to $107.18 a barrel, and the global benchmark Brent crude contract climbed 7.4% to $119.47 a barrel. Henry Hub natural gas futures fell 2.2% to $2.63 per 1 million BTU.In corporate news, Phillips 66 (PSX) shares jumped past 6%. The firm reported Q1 adjusted earnings Wednesday of $0.49 per diluted share, swinging from a loss of $0.90 a share a year ago. Analysts polled by FactSet expected a loss of $0.54 a share. Phillips 66 also raised its annualized quarterly dividend by 7%.Bloom Energy (BE) shares surged nearly 24% after it reported Q1 adjusted earnings late Tuesday of $0.44 per diluted share, up from $0.03 a year earlier. Analysts polled by FactSet expected $0.12. Revenue also handily beat market consensus.TotalEnergies (TTE) shares were up 0.9% after it posted higher Q1 adjusted earnings and revenue.
Energy stocks were higher Wednesday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each rising about 2%.The Philadelphia Oil Service Sector Index was increasing 0.5%, and the Dow Jones US Utilities Index was shedding 0.5%.Oil prices rallied Wednesday after US President Donald Trump reportedly rejected an Iranian proposal to lift the naval blockade. Trump told Axios on Wednesday he will maintain the US naval blockade of Iranian ports until Tehran agrees to a nuclear deal. Iran wanted the Strait of Hormuz opened before the two sides could sit down to discuss uranium enrichment at a later stage.Front-month West Texas Intermediate crude oil jumped 7.3% to $107.18 a barrel, and the global benchmark Brent crude contract climbed 7.4% to $119.47 a barrel. Henry Hub natural gas futures fell 2.2% to $2.63 per 1 million BTU.In corporate news, Phillips 66 (PSX) shares jumped past 6%. The firm reported Q1 adjusted earnings Wednesday of $0.49 per diluted share, swinging from a loss of $0.90 a share a year ago. Analysts polled by FactSet expected a loss of $0.54 a share. Phillips 66 also raised its annualized quarterly dividend by 7%.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:PSX surprised to the upside in Q1 with adjusted EPS of $0.49 vs. a loss of $0.90 in the prior year, beating consensus by $0.88. However, PSX incurred sizable $839M losses on derivative positions against just $200M in adjusted earnings. The WRB acquisition boosted net crude throughput capacity by 45k b/d to 1.993M b/d, while midstream expansion efforts increased Sweeny NGL fractionation capacity by 23% and Freeport LPG export dock capacity by 15%. Upcoming projects include the Iron Mesa gas plant (300 mmcf/d) and two polymers projects, both targeting 2027 startups. Refining utilization remained strong at 95% despite planned turnarounds, though realized margins declined to $10.11/b from $12.48/b sequentially. Midstream volumes pulled back from Winter Storm Fern, with NGL pipeline throughput dropping to 930 MBD vs. 1,006 MBD in Q4. We think the efficiency efforts can support increased LNG and LPG exports to Asia, which faces supply shortages following Strait of Hormuz blockades.
Energy stocks were edging higher pre-bell Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 1.2%.The United States Oil Fund (USO) was up 3.4% and the United States Natural Gas Fund (UNG) was 2.4% lower.Front-month US West Texas Intermediate crude oil was 3.7% higher at $103.58 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 3.6% to $115.29 per barrel, and natural gas futures were down 2.5% at $2.62 per 1 million British Thermal Units.TotalEnergies (TTE) shares were up 1% after the company posted higher Q1 adjusted earnings and revenue.Phillips 66 (PSX) stock was up more than 1% after the company reported that it swung to Q1 adjusted earnings.Delek US (DK) shares were up more than 4% after the company posted a swing to Q1 adjusted earnings as net revenue increased during the period.
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.02% and the actively traded Invesco QQQ Trust (QQQ) was 0.3% higher in Wednesday's premarket activity, ahead of the Federal Open Market Committee's policy decision.US stock futures were mixed, with S&P 500 Index futures up 0.01%, Dow Jones Industrial Average futures retreating 0.03%, and Nasdaq futures gaining 0.3% before the start of regular trading.The US Federal Reserve's Federal Open Market Committee will make its latest policy announcement at 2 pm ET, followed by a press conference by Fed Chair Jerome Powell.Mortgage applications declined in the week ending April 24 after a large increase in the previous week, as mortgage rates rose slightly, according to the Mortgage Bankers Association Wednesday.US housing starts rose to an annual pace of 1.502 million in March, topping forecasts of 1.38 million and increasing from 1.356 million previously.In March, US building permits fell to an annual rate of 1.372 million, missing expectations of 1.39 million and declining from 1.538 million in the prior reading.Durable goods orders rose 0.8% in March, beating expectations for a 0.5% increase and marking a rebound from the previous 1.2% drop.Weekly petroleum stocks data are due to be released at 10:30 am ET, followed by the Atlanta Federal Reserve Survey of Business Uncertainty for April at 11 am ET.In premarket activity, bitcoin was up by 1.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.8% higher, Ether ETF (EETH) advanced 1.6%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated by 0.01%.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced by 0.7%, and the iShares US Technology ETF (IYW) was 0.5% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.8%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased by 1.6%, while the iShares Semiconductor ETF (SOXX) rose by 1.8%.United Microelectronics (UMC) shares were up more than 8% in Wednesday's premarket activity after the company reported Q1 earnings and revenue.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.7%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.6% lower.UBS Group (UBS) shares were up more than 5% pre-bell after the company reported higher Q1 earnings and revenue.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.3%, while the Vanguard Industrials Index Fund (VIS) was flat and the iShares US Industrials ETF (IYJ) was down 1.1%.AerCap Holdings (AER) stock was up more than 5% before the opening bell after the company reported higher Q1 revenue.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.4%, the Vanguard Health Care Index Fund (VHT) lost 0.3%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was flat.GSK (GSK) stock was down more than 4% premarket even after the company reported higher Q1 core earnings and revenue.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.1%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated by 0.1%. The iShares US Consumer Staples ETF (IYK) advanced 0.5%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.4%. The VanEck Retail ETF (RTH) gained 0.1%, while the State Street SPDR S&P Retail ETF (XRT) was 0.2% lower.Yum China (YUMC) shares were up more than 3% pre-bell after the company reported Q1 adjusted earnings and revenue.EnergyThe iShares US Energy ETF (IYE) was up 0.9%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 1.2%.Phillips 66 (PSX) stock was up more than 1% before the opening bell after the company reported it swung to Q1 adjusted earnings.CommoditiesFront-month US West Texas Intermediate crude oil rose by 3.3% to $103.22 per barrel on the New York Mercantile Exchange. Natural gas retreated by 1.3% to $2.66 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 3.4%, while the United States Natural Gas Fund (UNG) was 1.3% lower.Gold futures for May were down by 0.7% at $4,576.40 an ounce on the Comex. Silver futures retreated by 0.9% to $73.05 an ounce. SPDR Gold Shares (GLD) was 0.6% lower, and the iShares Silver Trust (SLV) fell by 0.6%.
Refiner and producer of chemicals and renewable fuels Phillips 66 (PSX) reported its operated refining capacity at 95% utilization in Q1 with a clean product yield of 87%, it said on Wednesday.The company increased fractionation capacity at Sweeny NGL and Freeport LPG export dock capacity by 23% and 15% respectively, reflecting "debottlenecking" in 2025, according to its Q1 financial results.Another advancement included progress on the Western Gateway Pipeline after a successful second open season that secured long-term shipper commitments.There was also progress during the quarter on the construction of the Iron Mesa gas plant that has a 300 million cubic feet per day design capacity. It is scheduled to start up in Q1, 2027.The company this month completed its acquisition of Lindsey Oil Refinery and logistics assets and it will use these to enhance its integrated business in the UK, it said.It said it advanced towards full operations by 2027 at the Ras Laffan Polymers Project in Qatar and the Chemicals Golden Triangle Polymers project in Orange, Texas.The chemicals segment of the business suffered from higher costs and lower volumes during the quarter mainly due to turnaround expenses.
Phillips 66 (PSX) reported Q1 adjusted earnings Wednesday of $0.49 per diluted share, swinging from an adjusted loss of $0.90 a share a year earlier.Analysts polled by FactSet expected a non-GAAP loss of $0.54 a share.The company raised its annualized quarterly dividend by 7%, according to the statement.Phillips 66 shares were 2.2% higher in premarket trading.
Phillips 66 (PSX) has an average rating of overweight and mean price target of $182.72, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Phillips 66 (PSX) said Tuesday its UK subsidiary has completed the acquisition of assets and associated infrastructure of Prax Lindsey Oil Refinery.The deal, unveiled in January, will see the assets integrated into Phillips 66's Humber Refinery operations in North Lincolnshire, the company said.The Humber Refinery produces sustainable aviation fuel, graphite coke for electric vehicle batteries, petrochemical feedstocks and transportation fuels, according to Phillips 66.
Refining margins are unlikely to return to pre-conflict levels anytime soon, even if the Strait of Hormuz reopens, due to refinery damage, the time required to normalize trade flows, and the need to rebuild inventories, Morgan Stanley analysts said in a Friday note to clients.Analysts said first-quarter financial results for refining companies will be pressured by lower capture rates amid still-tight crude differentials, planned and unplanned maintenance, and derivative headwinds, partially offset by stronger secondary products.Morgan Stanley said near-term U.S. refining margins have roughly doubled since the start of the Iran conflict and now sit near levels last reached in 2022 and 2023.On Phillips 66 (PSX), analysts upgraded the stock to overweight from equal-weight.They said the chemicals business is a key factor that sets the company apart from the rest of the sector, with earnings from the segment expected to rise to about $1.1 billion from $352 million. They also raised the price target to $174 from $147.Morgan Stanley retained an overweight rating on Marathon Petroleum (MPC) and raised its price target to $233 from $200. It also maintained an overweight rating on HF Sinclair (DINO) and increased its price target to $66 from $57.On Valero Energy (VLO), Morgan Stanley maintained an equal-weight rating and raised the price target to $222 from $182. It also maintained an equal-weight rating on Delek US Holdings (DK) and raised its price target to $40 from $38.On PBF Energy (PBF), Morgan Stanley maintained an underweight rating and raised the price target to $34 from $27.Price: $224.00, Change: $+2.90, Percent Change: +1.31%
Phillips 66 (PSX) has an average rating of overweight and mean price target of $182.72, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
US crude shipments via foreign vessels begin after a Jones Act waiver, marking the first such cargo since the March 18 policy shift, according to a Bloomberg analysis on Thursday.Phillips 66 (PSX) loaded Bakken crude in early April from Beaumont, Texas, onto the Malta-flagged Htm Warrior for delivery to Pennsylvania, the report said.The cargo will supply the Trainer refinery in Pennsylvania, operated by Monroe Energy, a subsidiary of Delta Air Lines (DAL), expanding supply options for East Coast refiners, according to the analysis.President Donald Trump signed a 60-day Jones waiver on March 18, allowing foreign-flagged ships to transport goods between US ports, the analysis added.The waiver temporarily suspends the 1920 Jones Act, which requires vessels moving cargo between US ports to be US-built, US-flagged and US-operated, the analysis said.The administration introduced the exemption to boost fuel and crude supplies amid geopolitical tensions linked to Iran that disrupted global energy flows.No other foreign-flagged vessels have carried US crude from the Gulf Coast to the Atlantic Coast since the waiver took effect, the analysis said, citing Kpler data.However, multiple cargoes of Middle Eastern crude have recently moved along the same route on foreign-flagged ships, highlighting shifting trade flows under the temporary policy change, the analysis added.
Kinder Morgan (KMI) reported Q1 earnings Wednesday, showing total transported natural gas volumes rose to 49,475 billion British thermal units per day over the year, from 45,978 billion Btu/d a year earlier.Total oil segment delivery volumes declined to 1.97 million barrels per day in Q1 2026, compared with 2.05 million b/d a year earlier.Within the oil segment, transported volumes of crude and condensate fell to 420,000 b/d in the quarter, down from 476,000 b/d a year earlier.Total refined product volumes edged lower, with transported volumes at 1.5 million b/d in Q1 2026, compared with 1.6 million b/d a year earlier.In the Products Pipelines segment, transported gasoline volumes dropped to 912,000 b/d from 933,000 b/d in Q1 2025, and jet fuel volumes also fell to 293,000 b/d from 302,000 b/d a year ago.In contrast, diesel fuel volumes increased to 340,000 b/d from 336,000 b/d in the year-ago period."Our Natural Gas Pipelines segment drove the bulk of that outperformance, benefiting from winter storm Fern and extended cold weather," Chief Executive Officer Kim Dang said.Executive Chairman Richard D. Kinder said geopolitical uncertainty surrounding the Middle East conflict remained elevated."The geopolitical landscape became even more turbulent this quarter, with conflict in the Middle East joining the ongoing war in Ukraine as a source of significant commodity price volatility," Kinder said, adding that the company was "largely insulated from that volatility.""Longer-term, these global conflicts highlight the benefits of securing liquefied natural gas supplies from the United States, driving incremental demand for the services we provide those shippers," he said, noting that domestic natural gas demand growth projections, particularly in the power sector, continue to be robust.On April 20, KMI and Phillips 66 (PSX) closed a second open season for the proposed Western Gateway Pipeline system with sufficient customer commitments to advance the project, subject to agreements and respective board approvals.The refined products pipeline aims to connect Midwest and Gulf Coast refinery supplies to Phoenix, Arizona and California markets with connectivity to Las Vegas, Nevada, via Kinder Morgan's CALNEV Pipeline. Completion is targeted for mid-2029.
Phillips 66 (PSX) has an average rating of overweight and mean price target of $181.22, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $160.04, Change: $+0.66, Percent Change: +0.41%
Phillips 66 (PSX) and Kinder Morgan (KMI) said Monday they are advancing the Western Gateway Pipeline after securing shipper commitments, targeting refined product flows to western US markets.The companies said the project moved forward after a successful open season attracted sufficient long-term commitments, pending final agreements and board approvals.The Western Gateway Pipeline is planned to connect Midwest and Gulf Coast refineries into key markets in Phoenix and California, while also linking into Las Vegas through Kinder Morgan's California-Nevada Pipeline.The development combines a newly built line from Borger, Texas to Phoenix with the conversion of Kinder Morgan's Santa Fe Petroleum Pipeline between Colton and Phoenix, enabling products to move westward into California.Feedstock will originate from refinery networks connected at Borger, Texas, with Phillips 66's Gold Pipeline set to be reversed to redirect product flows toward Borger and supply the new system.Phillips 66 Chief Executive Officer Mark Lashier said strong customer participation highlights the project's role in meeting long-term fuel transport needs, adding it is expected to enhance supply flexibility and reliability across West Coast markets.Kinder Morgan Chief Executive Officer Kim Dang said the firm will use its existing pipeline network to support growth in Arizona and California, leveraging its footprint to deliver an efficient transport solution.
Showing 21-40 of 45