Phillips 66 Stock News

BOZEMAN, Mont.--(BUSINESS WIRE)--Bridger Photonics Inc. (“Bridger”) has expanded its partnership with Phillips 66 across the operator's entire midstream value chain to further enhance methane leak detection. This expanded effort includes aerial scans twice per year using state-of-the-art methane detecting sensors to identify emissions, further strengthening Phillips 66's commitment to reducing ...

Phillips 66 has seen strong pressure from Elliott Management, which has become a top 5 shareholder advocating for a breakup. The company has an impressive and growing dividend yield along with a commitment to share repurchases. The midstream business helps to protect the company from volatility while providing strong shareholder returns, making it a valuable investment.

Elliott engaged Phillips 66 in November 2023, calling for a series of improvements. The activist has since grown its position and stepped up its efforts.

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HOUSTON--(BUSINESS WIRE)--Phillips 66 Announces Quarterly Dividend.

The shares of energy giants BP plc (NYSE:BP) and Phillips 66 (NYSE:PSX) are moving in opposite directions this morning.

Elliott Investment Management said on Tuesday it has built a stake of more than $2.5 billion in U.S. refiner Phillips 66 , and plans to push for operational changes as well as the sale of the company's midstream business.

Highlights Need to Streamline Portfolio, Improve Operating Performance and Enhance Oversight Discloses a More Than $2.5 Billion Position Full Letter and Presentation Available at Streamline66.com WEST PALM BEACH, Fla. , Feb. 11, 2025 /PRNewswire/ -- Elliott Investment Management L.P.