Phillips 66 ($PSX) Stock Forecast: Up 5.8% Today

What is Phillips 66?

Phillips 66 (PSX) is a major player in the oil refining industry, focusing on lowering costs and enhancing efficiency. The stock had a bullish movement today amidst recent developments in the company.

Why is Phillips 66 going up?

PSX stock is up 5.8% on Feb 11, 2025 17:40

• Despite lower refining margins, Phillips 66's Q4 earnings exceeded expectations, showcasing strong financial performance.
• The news of activist investor Elliott Investment Management acquiring a significant stake in PSX and pushing for operational changes, particularly in the midstream segment, has likely fueled investor optimism and contributed to the bullish movement.
• The strategic efficiency improvements and potential restructuring in the midstream business following Elliott's involvement could be seen as positive catalysts for the stock, driving investor confidence in the company's future prospects.

PSX Price Chart

PSX Technical Analysis

PSX News

Phillips 66 Q4 Earnings Top Estimates Despite Lower Refining Margin

PSX aims to significantly lower refining costs over the next two years, driven by the Los Angeles Refinery shutdown and strategic efficiency improvements.

https://www.zacks.com/stock/news/2413427/phillips-66-q4-earnings-top-estimates-despite-lower-refining-margin

Activist Investor Elliott Builds $2.5 Billion Stake In Phillips 66, Pressures For Midstream Spinoff: Report - Phillips 66 ( NYSE:PSX ) , BP ( NYSE:BP )

Activist investor Elliott Investment Management has amassed a $2.5 billion stake in Phillips 66 PSX, significantly expanding its position in the U.S. oil refiner and intensifying pressure for operational restructuring, particularly regarding its midstream business.

https://www.benzinga.com/markets/equities/25/02/43614105/activist-investor-elliott-builds-25-billion-stake-in-phillips-66-pressures-for-midstream-spinoff

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Phillips 66 Price History

30.07.2024 - PSX Stock was up 3.3%

• The bullish movement in PSX stock today could be attributed to the positive outlook on the company's diversified business segments, particularly in midstream, renewables, and chemicals.
• The anticipation of a potential rebound after a recent 7.2% dip following the last earnings report may have also contributed to the bullish sentiment.
• The projected growth in the Aviation Lubricants market, in which Phillips 66 is a key player, could have further boosted investor confidence in the company's future prospects.
• Overall, the combination of a stable business model, growth opportunities in key markets, and potential earnings rebound may have driven the strong bullish movement in PSX stock today.

08.09.2024 - PSX Stock was down 5.2%

• The stock of Phillips 66 (PSX) experienced a strong bearish movement today.
• The upcoming Q3 earnings report is expected to show a significant decrease in quarterly earnings compared to the previous year, which could have contributed to the bearish sentiment.
• Despite a recent positive change in stock price, the overall market conditions might have influenced a broader sell-off in the energy sector, impacting PSX negatively.
• Investors may be reacting to the potential earnings disappointment and general market trends, leading to the bearish movement in PSX today.

04.01.2025 - PSX Stock was up 5.3%

• Despite reporting a Q4 loss in the refining segment due to lower margins and higher depreciation, Phillips 66 managed to beat earnings estimates, which likely boosted investor confidence.
• The company's strong cash flow excluding working capital impacts of $901 million also contributed to the bullish movement, indicating resilience in other business segments.
• The positive surprises in earnings and revenue for the quarter ended December 2024 may have reassured investors about Phillips 66's ability to navigate challenges in the energy market, leading to the bullish momentum in the stock.

04.11.2024 - PSX Stock was down 4.5%

• The bearish movement in PSX could be attributed to profit-taking by investors after a recent 9.2% increase since the last earnings report.
• Despite a stable business model focusing on midstream, renewables, and chemicals, market sentiment might have shifted due to concerns over future earnings estimates.
• Investors might be cautious about the company's growth prospects, leading to a sell-off in the stock despite its diversified business segments.

30.10.2023 - PSX Stock was up 5.2%

• The bullish movement in PSX today can be attributed to the following factors:
• 1. Positive outlook: The company has expressed optimism about a significant turnaround, as highlighted by Elliott Investment Management. This has likely boosted investor confidence and contributed to the bullish movement.
• 2. Constructive dialogue: Phillips 66 has emphasized its intention to engage in a "constructive dialogue" with Elliott Investment Management. This suggests a willingness to address any concerns raised by the activist investor, potentially leading to positive changes and increased shareholder value.
• 3. Board revamp: The request by Elliott Investment Management for a board revamp to improve the company's performance indicates a proactive approach towards addressing any shortcomings. This could be seen as a positive catalyst for the stock's upward movement.
• 4. Shareholder input: Phillips 66 has acknowledged the importance of shareholder perspectives and expressed a commitment to continuing a constructive dialogue. This focus on shareholder input and engagement may have instilled confidence among investors, contributing to the bullish market movement.

04.09.2023 - PSX Stock was down 5.1%

• The stock had a bearish movement despite the overall stock market gains.
• The reduction in stock holdings by Artemis Investment Management LLP during the 2nd quarter may have contributed to the bearish movement.
• The bleak Q3 performance of the energy sector, as mentioned in an article from Zacks Commentary, could have also impacted the stock negatively.
• It is possible that investors were not convinced by the latest trading session's move of +1.16% and decided to sell off their positions, leading to the bearish movement.

29.10.2023 - PSX Stock was up 5.5%

• The bullish movement of PSX can be attributed to the ongoing bull-run in the market, as the stock exchange continues to experience upward momentum.
• The sustained upward trajectory of PSX, marked by surpassing milestones like 59,000 and 60,000 points, indicates positive investor sentiment and confidence in the market.
• The focus of Phillips 66 (PSX) on businesses like midstream, renewables, and chemicals may have contributed to the stability of its business model, potentially influencing the bullish movement of PSX.
• The delay in the refill of the Strategic Petroleum Reserve, as mentioned in an article from Zero Hedge, may have indirectly impacted the market movement of PSX, as it is related to the energy sector. However, the direct correlation between the two is not explicitly mentioned in the provided articles.

30.06.2024 - PSX Stock was up 5.8%

• Despite a decrease in Q2 profit, Phillips 66's stock demonstrated a significant bullish move, increasing by over 440 points.
• The company's ability to surpass market expectations in adjusted earnings likely played a role in the positive investor sentiment.
• Considerations about potential political changes that could benefit fossil fuel industries, including oil stocks like Phillips 66, might have impacted the upward trend.
• Factors such as refining turnaround expenses and elevated input costs affecting Q2 earnings may have been overshadowed by the general market confidence in the company's performance and industry prospects.

30.06.2024 - PSX Stock was up 5.2%

• The company's Q2 results surpassed revenue projections and outperformed consensus estimates for adjusted EPS, underscoring its strong financial performance.
• Strong earnings were driven by high NGL volumes and peak refining crude utilization, offsetting increased costs and expenses, which resonated positively with investors.
• Despite a year-over-year decline in Q2 profit, the company's ability to surpass adjusted earnings expectations was well-received by the market, leading to an increase in the stock price.
• Investor confidence in Phillips 66's operational efficiency and strategic positioning in the energy sector is evident from the optimistic earnings report and market response, contributing to the bullish trend in the stock price.

30.06.2024 - PSX Stock was up 5.2%

• Second-quarter earnings of Phillips 66 surpassed analyst expectations, with revenue and adjusted EPS outperforming projections.
• The company's robust midstream and chemicals earnings, along with high capacity utilization and record NGL volumes, contributed to the strong performance.
• Despite a decrease in profits compared to the previous year, investors found assurance in Phillips 66's ability to counterbalance weaker refining margins through other profitable segments.
• The market responded positively to Phillips 66's results, pushing the stock price up as investors displayed trust in the company's diversified business model and financial resilience.

11.01.2025 - PSX Stock was up 6.4%

• An acquisition of a $2.5 billion stake in Phillips 66 by activist investor Elliott Investment Management has sparked optimism among investors, leading to a surge in the stock price.
• The pressure for operational restructuring, especially in the midstream business, indicates potential strategic changes that could unlock shareholder value, further boosting investor confidence.
• This bullish momentum reflects market expectations of positive changes and increased efficiency within Phillips 66, driven by the influence of activist investors like Elliott.

11.01.2025 - PSX Stock was up 5.8%

• Despite lower refining margins, Phillips 66's Q4 earnings exceeded expectations, showcasing strong financial performance.
• The news of activist investor Elliott Investment Management acquiring a significant stake in PSX and pushing for operational changes, particularly in the midstream segment, has likely fueled investor optimism and contributed to the bullish movement.
• The strategic efficiency improvements and potential restructuring in the midstream business following Elliott's involvement could be seen as positive catalysts for the stock, driving investor confidence in the company's future prospects.