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Phillips 66 (PSX) has an average rating of overweight and mean price target of $208.61, according to analysts polled by FactSet.Price: $201.50, Change: $-4.39, Percent Change: -2.13%
Energy stocks were edging higher premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.6%.The United States Oil Fund (USO) and United States Natural Gas Fund (UNG) were 0.3% higher.Front-month US West Texas Intermediate crude oil was 0.1% higher at $75.83 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.9% to $80.04 per barrel, and natural gas futures were down 0.3% at $2.67 per 1 million British Thermal Units.Phillips 66 (PSX) shares were up 1% after the company posted an increase in Q2 adjusted earnings.Talos Energy (TALO) stock was more than 4% higher after the company overnight swung to Q2 non-GAAP net income as revenue increased during the period.Dorian LPG (LPG) shares were up more than 3% after the company reported higher fiscal Q1 adjusted earnings and revenue.
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.4% and the actively traded Invesco QQQ Trust (QQQ) was 0.1% higher in Wednesday's premarket activity amid continued corporate earnings and optimism around a possible opening of the Strait of Hormuz.US stock futures were mixed, with S&P 500 Index futures up 0.3%, Dow Jones Industrial Average futures advancing 0.3%, and Nasdaq futures slipping 0.02% before the start of regular trading.Mortgage applications fell by 2.9% in the week ended July 31 as 30-year fixed mortgage rates rose to their highest level in more than a year after the Federal Open Market Committee's meeting last week, according to Mortgage Bankers Association data released Wednesday.S&P Global's services PMI report for July will be released at 9:45 am ET, followed by ISM's services reading for July at 10 am ET.The weekly petroleum stocks data will be released at 10:30 am ET.Federal Reserve Governor Lisa Cook is due to speak on Wednesday.In premarket activity, bitcoin was down by 0.3%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.1% lower, Ether ETF (EETH) retreated 0.2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) decreased 0.01%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.3%, the Vanguard Industrials Index Fund (VIS) was up 1.1%, and the iShares US Industrials ETF (IYJ) was inactive.SpaceX (SPCX) shares were 11% lower pre-bell after the rocket and satellite company reported quarterly results for the first time since going public.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.3%, the iShares US Technology ETF (IYW) was 0.2% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 0.6%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was 1.1% lower, while the iShares Semiconductor ETF (SOXX) fell by 1.9%.GlobalFoundries (GFS) shares were down more than 5% in premarket activity even after the company reported higher Q2 adjusted earnings and revenue.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 1%, the Vanguard Health Care Index Fund (VHT) was up 0.7%, and the iShares US Healthcare ETF (IYH) gained 0.7%. The iShares Biotechnology ETF (IBB) was also 0.7% higher.Eli Lilly (LLY) stock was up more than 4% premarket after the company reported higher Q2 non-GAAP earnings and revenue.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.8%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.6% lower.HSBC (HSBC) shares traded down 4% in early-hours activity after the company said late Tuesday it launched cash tender offers for four series of senior unsecured notes with an aggregate purchase price of up to $5 billion.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.3%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 1.1%, and the iShares US Consumer Staples ETF (IYK) was down 0.8%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advanced 0.6%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was flat.Honda Motor (HMC) shares were up more than 4% pre-bell after the company reported higher fiscal Q1 earnings and revenue.EnergyThe iShares US Energy ETF (IYE) was down 0.035, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.2%.Phillips 66 (PSX) stock was up more than 1% before market open after the company reported higher Q2 adjusted earnings.CommoditiesFront-month US West Texas Intermediate crude oil gained by 0.5% to reach $76.12 per barrel on the New York Mercantile Exchange. Natural gas was up 0.4% at $2.69 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 0.5%, while the United States Natural Gas Fund (UNG) was 0.2% higher.Gold futures for November advanced by 2.4% to $4,250.40 an ounce on the Comex. Silver futures rose by 3.4% to $62.27 an ounce. SPDR Gold Shares (GLD) was up by 3%, and the iShares Silver Trust (SLV) was 4.4% higher.
Energy stocks were edging higher premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.4%.The United States Oil Fund (USO) was up 0.4% and the United States Natural Gas Fund (UNG) was 0.1% higher.Front-month US West Texas Intermediate crude oil was 0.6% higher at $76.25 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.2% to $80.34 per barrel, and natural gas futures were up 0.2% at $2.69 per 1 million British Thermal Units.Phillips 66 (PSX) shares were up 0.6% after the company posted an increase in Q2 adjusted earnings.
Phillips 66 (PSX), Texas-based midstream energy company, Wednesday reported realized refining margins rising 138.2% quarter over quarter to $24.08 a barrel in Q2, compared with $10.11/bbl in Q1."Margins were primarily driven by an increase in market crack spreads and favorable mark-to-market impacts," the company said in its earnings statement.In Q2, Phillips 66 reported earnings of $3.062 billion from its refining segment, a 1,372% jump from earnings of $208 million in the previous quarter.For the three months period ended June 30, Y-grade natural gas liquids pipeline throughput to market were reported at 943,000 barrels a day, up from 930,000 bbl/d in the previous quarter.Fractionated NGL volumes for the quarter stood at 1.02 million bbl/d, up from 980,000 bbl/d in Q1.Phillips 66 reported crude capacity utilization at 96%, which compares with 95% reported in the previous quarter.The company produced 51,000 bbl/d of renewable fuels in Q2, up from 40,000 bbl/d in the quarter before.The midstream segment reported earnings of $785 million in Q2, up from $595 million in Q1, while the renewables fuels segment $544 million for the three-month period, which compares to a loss of $41 million in the previous quarter.
The benchmark US stock measures were trending higher in Wednesday's premarket activity amid growing optimism over a potential deal to reopen the Strait of Hormuz, while investors await the latest batch of corporate earnings.The S&P 500 and the Dow Jones Industrial Average rose 0.3% each before the opening bell, while the Nasdaq edged up 0.1%. The S&P 500 and the Dow recorded fresh all-time highs on Tuesday, while the Nasdaq advanced for a fourth consecutive session.President Donald Trump reportedly said late Tuesday that an agreement to reopen the Strait of Hormuz, the world's most important chokepoint for crude flows, is imminent, following "very good discussions" with Iran, according to CNBC.Treasury Secretary Scott Bessent told CNBC on Tuesday that a potential deal to open the crucial waterway could be reached this week. Qatar's Foreign Ministry spokesperson Majed al-Ansari reportedly said that efforts to resolve the US-Iran conflict are "in very progressive stages."West Texas Intermediate crude oil increased 1.1% to $76.58 a barrel in premarket action, while Brent gained 1.7% to $80.73.Yemen's Iran-aligned Houthis reportedly claimed an attack on a Saudi Arabian tanker near the coast of Yanbu, a major port for Saudi crude oil exports, according to a separate CNBC report.Treasury yields were mixed before the open, with the two-year rate rising 1.2 basis points to 4.21% while the 10-year rate retreated 1 basis point to 4.62%.Eli Lilly (LLY), Walt Disney (DIS), Shopify (SHOP), Uber Technologies (UBER), CVS Health (CVS), Phillips 66 (PSX), Kraft Heinz (KHC) and Global Payments (GPN) are scheduled to report their latest financial results before the bell, among others.Sandisk (SNDK), AppLovin (APP), McKesson (MCK), DoorDash (DASH), eBay (EBAY) and Expedia (EXPE) post their earnings after the markets close.Shares of SpaceX (SPCX) dropped 12% pre-bell after the rocket and satellite company reported quarterly results for the first time since going public. Advanced Micro Devices (AMD) fell 8.6% even though it recorded fiscal second-quarter results above market estimates. Arista Networks (ANET) jumped 16%.Wednesday's economic calendar has the weekly mortgage applications bulletin at 7 am ET, followed by the ADP Employment report for July at 8:15 am. The purchasing managers' index composite final report from S&P Global (SPGI) for July is out at 9:45 am, followed by the Institute for Supply Management's services index for the same month at 10 am.The domestic EIA petroleum inventories report is due at 10:30 am.Federal Reserve Governor Lisa Cook is scheduled to speak at 4:05 pm, while San Francisco Fed President Mary Daly speaks at 8:35 pm.Gold gained 1.5% to $4,215 per troy ounce, while bitcoin slipped 0.2% to $64,146.
Phillips 66 (PSX) reported Q2 adjusted earnings Wednesday of $9.41 per diluted share, up from $2.38 a year earlier.Analysts polled by FactSet expected a non-GAAP loss of $7.50 a share.Phillips 66 shares were up 1.1% in premarket trading.
Energy stocks were higher late Friday afternoon, with the NYSE Energy Sector Index rising 0.6% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.7%.The Philadelphia Oil Service Sector Index was climbing 2.3%, and the Dow Jones US Utilities Index decreased 0.4%.In geopolitical news, Iran said Friday that it had targeted US military assets at Kuwait's Ahmad Al-Jaber airbase, describing the attack as retaliation for US strikes a day earlier, Al Jazeera reported Friday. The US has not responded to Iran's attack yet, and specific details about the damage and casualties are not known, the report said.Separately, President Donald Trump said the US has an "understanding" with Israel to start implementing an agreement in Gaza that would require Israeli forces to withdraw and Hamas to give up its weapons, a critical step in implementing a multi-phase peace plan to end the war, according to CNN. A senior Hamas official told CNN that the militant group had agreed to the deal with the US-backed Board of Peace, contingent on Israel upholding its obligations. Hamas has never before agreed to a specific plan to hand over its weapons, according to CNN.Front-month West Texas Intermediate crude oil rose 1.3% to $84.64 a barrel, and the global benchmark Brent crude contract added 1.2% to $90.12 a barrel. Henry Hub natural gas futures shed 0.4% to $2.75 per 1 million BTU.In corporate news, Exxon Mobil (XOM) and Chevron (CVX) on Friday reported year-over-year gains in their Q2 results as the supply disruptions in the Middle East boosted oil prices. Exxon shares were down 0.8%, and Chevron rose 2.5%.Phillips 66 (PSX) said Friday its board authorized an additional $10 billion of share repurchases, increasing the company's buyback capacity as the remaining authorization nears depletion. Phillips 66 shares were up 0.4%.Shell (SHEL) has agreed to sell its BG Cyprus subsidiary to MOL Group for up to $720 million, subject to customary adjustments and milestone-linked contingent payments, the company said Friday. Shell shares were up 1.4%.BP (BP) said Friday it has launched a process to market its North Sea oil and gas business for a potential sale as part of its broader portfolio review. BP shares rose 1.9%.
Energy stocks were higher Friday afternoon, with the NYSE Energy Sector Index rising 0.3% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.2%.The Philadelphia Oil Service Sector Index was climbing 1.8%, and the Dow Jones US Utilities Index eased 0.2%.In geopolitical news, Iran said Friday that it had targeted US military assets at Kuwait's Ahmad Al-Jaber airbase, describing the attack as retaliation for US strikes a day earlier, Al Jazeera reported Friday. The US has not responded to Iran's attack yet, and specific details about the damage and casualties are not known, the news report said.Front-month West Texas Intermediate crude oil rose 1.4% to $84.76 a barrel, and the global benchmark Brent crude contract added 1.1% to $89.97 a barrel. Henry Hub natural gas futures fell 1.1% to $2.73 per 1 million BTU.In corporate news, Exxon Mobil (XOM) and Chevron (CVX) on Friday reported year-over-year gains in their Q2 results as supply disruptions in the Middle East boosted oil prices. Exxon shares were down 1.6%, and Chevron rose 1.6%.Phillips 66 (PSX) said Friday its board authorized an additional $10 billion of share repurchases, increasing the company's buyback capacity as the remaining authorization nears depletion. Phillips 66 shares were down 0.1%.Brookfield Infrastructure (BIPC) is mulling a potential sale of NorthRiver Midstream at roughly 7 billion Canadian dollars ($5 billion), Reuters reported. In recent weeks, Brookfield Infrastructure has been working with bankers to seek out potential interest in the Canadian natural gas-focused pipeline operator, the report said. Brookfield Infrastructure shares were shedding 0.2%.
Energy stocks were edging higher premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.4%.The United States Oil Fund (USO) was up 2.3% and the United States Natural Gas Fund (UNG) was 0.1% lower.Front-month US West Texas Intermediate crude oil was 2.1% higher at $85.38 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.4% to $90.26 per barrel, and natural gas futures were down 0.1% at $2.76 per 1 million British Thermal Units.Phillips 66 (PSX) shares were up more than 1% after the company said its board authorized an additional $10 billion of share repurchases, increasing the company's buyback capacity as the remaining authorization nears depletion.Exxon Mobil (XOM) stock was 0.8% lower after the company reported Q2 adjusted earnings below analysts' expectations.Chevron (CVX) shares were up 0.5% after the company posted higher Q2 adjusted earnings and revenue.
Energy stocks were edging higher premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.2%.The United States Oil Fund (USO) was up 2.6% and the United States Natural Gas Fund (UNG) was 0.6% higher.Front-month US West Texas Intermediate crude oil was 2.2% higher at $85.41 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.6% to $90.41 per barrel, and natural gas futures were down 0.4% at $2.75 per 1 million British Thermal Units.Phillips 66 (PSX) shares were up more than 1% after the company said its board authorized an additional $10 billion of share repurchases, increasing the company's buyback capacity as the remaining authorization nears depletion.
Phillips 66 (PSX) said Friday its board authorized an additional $10 billion of share repurchases, increasing the company's buyback capacity as the remaining authorization nears depletion.The company said repurchases may be made from time to time through open market or privately negotiated transactions, subject to market conditions and other factors.Phillips 66 said the timing, amount and manner of any repurchases will depend on factors including market conditions, legal requirements and other considerations, and that the program may be modified, suspended or discontinued at any time without prior notice.
Shell (SHEL) and Phillips 66 (PSX) are considering selling their majority stake in the company that owns the Explorer refined products pipeline, in a deal that could value the asset at about $3.5 billion, Reuters reported Wednesday, citing people familiar with the matter.Interest is initially focused on Shell's and Phillips 66's holdings, although Energy Transfer (ET) and MPLX (MPLX) could also decide to sell if bidders seek full ownership of the Explorer pipeline, Reuters reported. Greenhill, a Mizuho affiliate, and RBC Capital Markets are advising on the process.Explorer carries gasoline, jet fuel and other refined products from Texas into the Midwest, with terminals reaching the Chicago area. Shell and Phillips 66 control about 61% of the entity that owns the system, while the sources said discussions could still end without a transaction.Shell and Phillips 66 declined to comment, while Explorer did not immediately reply to' request for comment.
(Updates to add companies declined to comment in fourth paragraph)Shell (SHEL) and Phillips 66 (PSX) are exploring a sale of their combined stakes in the Explorer refined products pipeline, in a deal that could value the asset at around $3.5 billion, Reuters reported Wednesday, citing people familiar with the matter.Shell and Phillips 66 together hold about 61% of the entity that owns the pipeline, with Energy Transfer (ET) and MPLX (MPLX) owning the rest, Reuters reported.Energy Transfer and MPLX could join the sale process if buyer interest is strong enough to pursue the full pipeline, the report said, adding that there is no guarantee a deal will be reached.Shell and Phillips 66 declined comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Energy stocks rose late Wednesday afternoon, with the NYSE Energy Sector Index gaining 2.3% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.8%.The Philadelphia Oil Service Sector Index fell 0.8%, and the Dow Jones US Utilities Index shed 1.3%.In geopolitical news, President Donald Trump said Iran will be hit hard, according to Fox News. The US Central Command said it joined Saudi Arabian Armed Forces to conduct strikes in Iraq against Iran-aligned terrorists that the Islamic Revolutionary Guard Corps directed to attack US forces and Saudi energy infrastructure.West Texas Intermediate crude oil jumped 6.3% to $84.28 a barrel, and global benchmark Brent surged 7.4% to $90.32 a barrel. Henry Hub natural gas futures rose 2.4% to $2.73 per 1 million BTU.In corporate news, Shell (SHEL) and Phillips 66 (PSX) are exploring a sale of their combined stakes in the Explorer refined products pipeline in a deal that may value the asset at $3.5 billion, Reuters reported. Shell shares rose 2.5%, and Phillips 66 added 0.2%.Baker Hughes (BKR) shares were up 1.6% after the company said it secured a major order for 76 NovaLT 16 gas turbines from Dynamis Power Solutions.Woodside Energy (WDS) shares rose 4.9% after it reported higher Q2 operating revenue.Carlyle (CG), Energean, Dragon Oil, and Artemis Energy are among the companies that are anticipated to bid for BP's (BP) West Nile Delta natural gas development off Egypt this week, Reuters reported. BP shares were up 4.2%.
Energy stocks rose late Wednesday afternoon with the NYSE Energy Sector Index gaining 2.3% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.8%.The Philadelphia Oil Service Sector Index fell 0.8%, and the Dow Jones US Utilities Index shed 1.3%.West Texas Intermediate crude oil jumped 6.3% to $84.28 a barrel, and global benchmark Brent surged 7.4% to $90.32 a barrel. Henry Hub natural gas futures rose 2.4% to $2.73 per 1 million BTU.In corporate news, Shell (SHEL) and Phillips 66 (PSX) are exploring a sale of their combined stakes in the Explorer refined products pipeline in a deal that may value the asset at $3.5 billion, Reuters reported. Shell shares rose 2.4%, and Phillips 66 added 0.6%.
Shell (SHEL) and Phillips 66 (PSX) are exploring a sale of their combined stakes in the Explorer refined products pipeline, in a deal that could value the asset at around $3.5 billion, Reuters reported Wednesday, citing people familiar with the matter.Shell and Phillips 66 together hold about 61% of the entity that owns the pipeline, with Energy Transfer (ET) and MPLX (MPLX) owning the rest, Reuters reported.Energy Transfer and MPLX could join the sale process if buyer interest is strong enough to pursue the full pipeline, the report said, adding that there is no guarantee a deal will be reached.Shell and Phillips 66 did not immediately respond to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $88.44, Change: $+2.24, Percent Change: +2.60%
Phillips 66 (PSX) has an average rating of overweight and mean price target of $206.72, according to analysts polled by FactSet.Price: $206.74, Change: $-0.03, Percent Change: -0.02%
(Corrects total price of shares sold in first paragraph after a misprint in an SEC filing from Phillips 66.)Vanessa Allen Sutherland, Executive Vice President, General Counsel and Secretary, on July 21, 2026, sold 3,523 shares in Phillips 66 (PSX) for $743,523. Following the Form 4 filing with the SEC, Sutherland has control over a total of 27,537 common shares of the company, with 27,537 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1534701/000177260326000012/xslF345X06/wk-form4a_1784679684.xmlPrice: $215.61, Change: $+3.36, Percent Change: +1.58%
(Corrects total price of shares sold in first paragraph after a misprint in an SEC filling from Phillips 66.)Vanessa Allen Sutherland, Executive Vice President, General Counsel and Secretary, on July 21, 2026, sold 3,523 shares in Phillips 66 (PSX) for $743,523. Following the Form 4 filing with the SEC, Sutherland has control over a total of 27,537 common shares of the company, with 27,537 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1534701/000177260326000012/xslF345X06/wk-form4a_1784679684.xmlPrice: $215.61, Change: $+3.36, Percent Change: +1.58%
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