The Latest Breaking News from PSX

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

Phillips 66 has lagged behind the Nasdaq Composite over the past year, but analysts remain optimistic about the stock’s prospects.

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%.

Phillips 66 is all set to release its fiscal first-quarter earnings later this month, and analysts project a high double-digit profit decline.