Phillips 66 Stock News

Phillips 66 (NYSE:PSX ) Q3 2024 Earnings Conference Call October 29, 2024 12:00 PM ET Company Participants Jeff Dietert - VP, IR Mark Lashier - Chairman & CEO Kevin Mitchell - CFO Don Baldridge - EVP, Midstream and Chemicals Rich Harbison - EVP, Refining Brian Mandell, - EVP, Marketing and Commercial Conference Call Participants John Royall - JPMorgan Roger Read - Wells Fargo Neil Mehta - Goldm...

HOUSTON--(BUSINESS WIRE)--Phillips 66, a leading integrated downstream energy provider, announced third-quarter earnings.

Investing in equal parts of these three dividend stocks produces an average yield of 4.8%.

Phillips 66 offers a 3.4% dividend yield and growth potential in EBITDA, making it a solid investment for passive income investors. The company is well-managed with a diversified downstream portfolio, focusing on cost reductions and asset dispositions to improve capital returns. Despite low refining margins, PSX has consistently grown its dividend since 2013, with a total increase of 238%.

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Phillips 66 has an impressive portfolio of assets and midstream is a strong addition. The company is improving its ability to generate down-cycle profits which will support profits. Overall, we expect Phillips 66 to generate growing profits and shareholder returns.

SACRAMENTO, Calif.--(BUSINESS WIRE)--Propel Fuels, Inc. (“Propel”), a leading retailer of low-carbon fuels at stations throughout California, was awarded victory by a jury in its trade secrets misappropriation case against Phillips 66 Company (“Phillips 66”), following a five-week trial in the Superior Court of California, County of Alameda, located in Oakland, California. The jury found in Pro...

Energy company Phillips 66 owes biofuel maker Propel Fuels $604.9 million in damages for stealing Propel's trade secrets to build up its renewable-fuel capabilities, a jury in a California state court decided on Wednesday.