The Latest Breaking News from PSX

Instead of names like Exxon and ConocoPhillips, check out downstream refiners and shipping stocks, says our top chart expert.

Phillips 66 will release its fourth-quarter earnings next month, and analysts anticipate a robust bottom-line growth.

Phillips 66 (NYSE:PSX) announced on Tuesday that it will acquire the remaining 50% stake in WRB Refining LP from Cenovus Energy Inc. (NYSE:CVE) for $1.4 billion in cash, giving it full ownership of two U.S. refineries it has operated since 2007.

Despite Phillips 66’s underperformance relative to the S&P 500 Index over the past year, analysts are moderately optimistic about the stock’s prospects.

Phillips 66 stock has significantly underperformed the broader market over the past year, but analysts seem to be moderately bullish about its prospects.

Phillips 66 (NYSE:PSX) delivered a strong second-quarter performance, surpassing Wall Street’s earnings and revenue forecasts. The integrated energy company reported adjusted earnings of $973 million, or $2.38 per share, comfortably topping the consensus estimate of $1.69 per share.

Phillips 66 has underperformed the Oil Refiners industry over the past year, but analysts are moderately optimistic about the stock’s prospects.

Phillips 66 has underperformed the broader market over the past year, but analysts are moderately optimistic about the stock’s prospects.

Phillips 66 recently hiked its dividend 4.3%, despite lower earnings and cash flow. PSX stock now looks cheap with its 4.5%+ annual dividend yield, well over its historical average. Out-of-the-money short-put plays one month out yield 2.4%.