Phillips 66 (PSX)

$87.70 0.00 (0.00%)

19:00 EDT PSX Stock Quote Delayed 30 Minutes

7 Oil Stocks to Buy Now for Profits From Pent-Up Demand

By Josh Enomoto, InvestorPlace Contributor May 12, 2021

While oil stocks are still risky due to concerns about the sector specifically and the economy generally, if you believe in the coronavirus recovery, these are names to bet on.

7 Growth Stocks To Buy As They Ride Attractive Discounts

7 Oil Stocks That Are Worth Buying at Any Time

7 Oil Stocks Being Squeezed by Weak Demand

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Volume:

Previous Close -

Market Cap 38.40B

PE Ratio -18.01

EPS -4.87

Volume (Avg. Vol.) 586

Day's Range 87.70 - 87.70

52-Week Range 43.27 - 90.59

Dividend & Yield 3.60 (4.10%)

PSX Stock Predictions, Articles, and Phillips 66 News

From InvestorPlace
From the Web

9 Oil Stocks That Are Looking Good in Q1

By Thomas Niel Mar 17, 2021

These oil stocks have rallied tremendously, with oil now surging back above pre-pandemic prices. But that's doesn't mean the party's over.

9 Oil Stocks Betting on a Return to Travel and Normality

By Josh Enomoto, InvestorPlace Contributor Mar 5, 2021

Although oil stocks go against the grain of clean and renewable energy, the circumstances of our times suggest that this sector has more enduring relevance than we previously thought.

3 Oil Stocks to Buy With Safe Dividends

By Bob Ciura, Sure Dividend Feb 9, 2021

Some investors may be nervous about wading into oil stocks, even with juicy dividends. Some fear is warranted, but these three stand strong.

7 F-Rated Growth Stocks to Sell Sooner Than Later

By Louis Navellier and the InvestorPlace Research Staff, Editor, Growth Investor Feb 8, 2021

There are plenty of good stocks out there, but these legacy growth stocks aren't where you want to be, now or in the future.

8 Stocks to Buy When Your Refund Check Arrives

By Josh Enomoto, InvestorPlace Contributor Feb 4, 2021

It’s tax season and while it’s not the most enjoyable period for some, you can put your tax refund check to work with these stocks to buy.

7 Hot Energy Stocks with Value That You Shouldn’t Overlook

By Tom Taulli, InvestorPlace Writer & IPO Playbook Editor Jan 19, 2021

Between the pandemic, an oil surplus and more, energy stocks had a rough 2020. Now, they've begun a rally. But there's still value to be had.

5 Cheap Stocks to Buy With High Yield and Good Earnings Power

By Mark R. Hake, CFA Aug 28, 2020

These high-yield stocks also provide great earnings power. That said, all five of these names represent some of the top cheap stocks to buy.

5 Oil and Gas Stocks With Huge Upside That Can Afford Their Dividends

By Mark R. Hake, CFA Aug 17, 2020

5 oil and gas stocks that can afford their dividends. These 5 oil stocks have sufficient earnings and cash flow to pay their dividends with an average 76% target upside.

The 10 Best Value Stocks to Own in 2020

By Will Ashworth, InvestorPlace Contributor Mar 25, 2020

Value stocks look to make a comeback in 2020, and here are 10 worth considering that could make you money in the year ahead and beyond.

Why PSX Stock Should Be on Your Buy List

By Laura Hoy, InvestorPlace Contributor Mar 25, 2020

While there are certainly risks to consider, PSX stock looks like one of the best value plays in the energy sector right now.

7 Energy Stocks That Are Too Cheap to Ignore

By Chris Lau, InvestorPlace Contributor Mar 10, 2020

A failed OPEC deal and a Saudi oil price war had energy stocks tanking on Monday. But long-term investors should jump into the sector now.

Make the Shift Toward Value Stocks With These 5 Picks

By Aaron Levitt, InvestorPlace Contributor Dec 19, 2019

Value stocks are hot these days, and the best part is the shift toward them isn't stopping anytime soon. Here are five to buy today.

Phillips 66 Earnings: PSX Stock Hits the Gas on Q3 Beat

By William White, InvestorPlace Writer Oct 25, 2019

Phillips 66 (PSX) earnings for the gas company's third quarter of 2019 have PSX stock taking off Thursday on an EPS beat.

7 Well-Positioned Oil Stocks in Today’s Trading Environment

By Will Healy, InvestorPlace Contributor Sep 4, 2019

These seven gas and oil stocks have fallen to low valuations and should have nowhere to go but up once pricing improves in the oil patch.

4 Oil and Gas Stocks to Buy

By William Roth, InvestorPlace Market Strategist Jun 13, 2019

For investors looking to take advantage of rising tensions, these oil stocks may be worth your time and money.

3 Oil Stocks to Buy in a Recovering Refining Market

By Wayne Duggan, InvestorPlace Contributor May 7, 2019

After underperforming for the past year, refiners are now positioned to be among the best-performing oil stocks.

10 Hot Stocks Leading the Market’s Blitz Higher

By William Roth, InvestorPlace Market Strategist Feb 14, 2019

It's time to add these names to your hot stocks to watch list as they have been making some of the biggest moves lately.

5 Must-See Stock Charts for Wednesday: GILD, NFLX, EA

By Bret Kenwell, InvestorPlace Contributor Feb 12, 2019

Corning, Netflix and Phillips 66 all have brewing breakouts, making them some of our must-see stock charts for Wednesday.

PSX Could Benefit from Lower Crude Oil Prices

By Ken Trester Feb 11, 2019

This morning I am recommending a bullish trade on Phillips 66 (NYSE:PSX), the energy manufacturing and logistics company.

5 Oil Stocks to Buy Even If Oil Prices Keep Falling

By Will Healy, InvestorPlace Contributor Dec 19, 2018

These oil stocks offer both income and reasonable valuations to investors, even as the crude oil price continues to fall.

Red-Hot Renewable Diesel Encouraging Producers To Buy Into Upstream Supply Chains

From Benzinga May 14, 2021

It was the sort of deal that is a shocker because it goes completely against the trend in the oil business. The transaction in question was the recent announcement by Phillips 66...

Crossamerica Partners (CAPL) Gets a Hold Rating from Raymond James

From Smarter Analyst May 11, 2021

Raymond James analyst Justin Jenkins maintained a Hold rating on Crossamerica Partners (CAPL) today. The company's shares closed last Tuesday at $20.23,

EXCLUSIVE Chevron Phillips Chemical failed to disclose years of U.S. benzene imports -document

From Reuters May 11, 2021

A Chevron Corp (CVX.N) and Phillips 66 (PSX.N) petrochemical joint venture imported significant quantities of the toxic chemical benzene into the United States for several years without reporting it to regulators as required by law, according to a company document seen by Reuters.

Exclusive: Chevron Phillips Chemical failed to disclose years of U.S. benzene imports - document

From Yahoo Finance May 11, 2021

A Chevron Corp and Phillips 66 petrochemical joint venture imported significant quantities of the toxic chemical benzene into the United States for several years without reporting it to regulators as required by law, according to a company document seen by Reuters. Benzene is a known carcinogen that is used in the production of pesticides, detergents, plastics, and other synthetic materials, and companies must report imports of 25,000 pounds (11,340 kg) or more to help regulators track potential exposure. Chevron Phillips Chemical Company LLC imported "reportable quantities" of the chemical between 2013 and 2020 that it did not immediately disclose to regulators, according to the document, a letter from the company's attorney to non-profit watchdog group Center For Environmental Health dated April 21.

Six Reasons Asia's Oil Refiners Aren't Going Away Anytime Soon

From Yahoo Finance May 5, 2021

(Bloomberg) -- Predictions of peak oil and the impending demise of fossil fuels will hit Asian oil refiners especially hard. The region is home to three of the top four oil-guzzling nations, and more than a third of global crude processing capacity. Yet, Asian refiners are expanding at a breakneck pace, even building massive new plants designed to run for at least half a century.What is going on?After a century of powering the world’s vehicles, oil refiners are having to plan for an oil-free future in mobility as cars begin switching to batteries, ships burn natural gas, and innovation brings on other energy sources such as hydrogen. Goldman Sachs Group Inc. predicts oil demand for transportation will peak as early as 2026.Yet, even as a slew of headlines announce oil major BP Plc selling its prized Alaskan fields or Royal Dutch Shell Plc pulling the plug on refineries from Louisiana to the Philippines, Asia’s big refineries are planning for a much longer transition. Chinese refining capacity has nearly tripled since the turn of the millennium, and the nation will end more than a century of U.S. dominance this year. And China’s capacity will continue climbing – to about 20 million barrels a day by 2025, from 17.4 million barrels at the end of 2020. India’s processing is also rising rapidly and could jump by more than half to 8 million barrels a day in the same time.“Asia is going to be the center of global activity and hence the choices that are being made in Asia about pioneering cleaner technology development, or not, are very important,” said Jeremy Bentham, vice president of global business environment at Royal Dutch Shell Group. “Economic development is going to be very Asian centered, hence the consumption of energy will be very Asian centered and hence then the opportunity to take a lead in deploying clean technologies is there.”Refiners have begun the long path of reinventing their business. There has been a flurry of announcements from processors in South Korea, China and India in the past few months about ‘net-zero’ targets, switching to hydrogen and capturing carbon. But behind those promises is a business model that will continue to rely for several decades on rising demand for traditional vehicle fuels and even faster growth in the use of petrochemicals and plastics.“Energy transition is happening in many ways already,” said Sushant Gupta, research director for Asia Pacific refining and oil markets at Wood Mackenzie. “But in Asia, over the next two decades, we still see transport fuel demand. It will be slower, but will still be there.”Here, then, is a roadmap for Asian oil refiners to make it to 2100 by adapting their businesses in stages.1. Keep making gasolineGasoline and diesel for vehicles may be the first major product area to vanish from refineries, but it is unlikely to happen soon in Asia. About 3.5 million barrels per day of global capacity will be shuttered by the end of 2023 -- 1 million barrels more than has already been announced, industry consultant FGE predicts. But Asia’s big, new refineries have the advantage of modern facilities, located close to growing markets.Rongsheng Petrochemical Co.’s 800,000 barrels-a- day plant at Zhoushan became fully operational this year and will yield almost 30% transport fuels, mostly gasoline and diesel, and 70% petrochemicals. Hengli Petrochemical began operating its 400,000 barrels-a-day refinery in northeastern China in late 2018, which can produce almost 10 million tons annually of gasoline, diesel, and jet fuel. While Asian refiners produce more vehicle fuel, processors in the mature Western markets are likely to see demand peak sooner as automakers switch to electric propulsion. Already, Shell’s Convent Louisiana facility, three plants of Marathon Petroleum Corp. and two of Phillips 66 are being either shut down or converted into oil terminals or biofuel plants on concern that gasoline demand will never recover from the pandemic-induced slump. Shell announced on Tuesday an agreement to sell its Puget Sound Refinery as it focuses on sites that have integrated oil refineries and chemical plants -- a bet on the future growth of petrochemicals. Almost 80% of US refinery output on average is gasoline or middle distillates – a category that is mostly diesel, according to the IEA.“There will be closures and there will be the transformation of existing refineries to shift yields from transport fuels to petrochemicals,” Gupta said. Even so, he expects gasoline and diesel yields globally to drop by only 2.5%-3% by 2040.Some fuel markets will last longer than others. While natural gas and alternatives are becoming increasingly important fuels for big ships, it will take decades to wean the armadas of ferries, fishing vessels and small craft off marine diesel. And jet kerosene will probably remain the only viable propulsion for large aircraft until well into the second half of the century.2. Produce more plasticShifting more capacity to plastics and polymers can be done relatively easily using existing plants. Petrochemicals will account for more than a third of global oil demand growth to 2030 and nearly half through 2050, the International Energy Agency predicts.Even if the drive to eliminate single-use plastics revives in a post-Covid world, the demand for other petrochemical products, which include everything from water pipes to nail polish, is predicted to keep rising. Asia’s expanding middle class will drive demand for consumer goods and plastics used in buildings and packaging. Ironically, even manufacturers of autos and airplanes will use more plastic as they strive to lighten vehicles to meet emissions standards, according to FGE.The overall result is that global plastics consumption will rise more than 60% to close to 600 million tons by 2050 from 2019 levels, requiring refiners to produce an additional 7 million barrels a day in feedstock, FGE said.“Petrochemicals will become the new base-load for oil demand, driven by economic growth and rising consumption especially in emerging markets,” Goldman Sachs said last month.China, the biggest market, is leading the transition. The country’s new mega refineries can convert as much as half of their crude oil into petrochemicals, way more than the traditional 10%-15% yield for most processors.In South Korea, home to three of the world’s 10 biggest refining complexes, four new steam crackers will come onstream over the next 4-5 years to make ethylene, the building block for plastics, according to Gupta. India’s Reliance Industries Ltd., which owns the world’s biggest refining complex, plans to replace sales of road fuels like diesel and gasoline, eventually producing only jet fuel and petrochemicals, as part of a plan to reach net zero by 2035. Rival Indian Oil Corp., the nation’s biggest refiner, aims to double petrochemicals output from its nine refineries.3. Switch to hydrogenEventually, markets for traditional transportation fuel will dry up and refiners have already started working on replacements. Perhaps the most promising from the point of view of their traditional business model is hydrogen, which, like gasoline, is a combustible, storable and transportable fuel that could power vehicles of all sizes and types.“Hydrogen is the ultimate green option,” said to S.S.V. Ramakumar, director for research and development at Indian Oil, which is running a pilot project in New Delhi to power buses using hydrogen spiked with natural gas. “But there is a journey for hydrogen to make to attain that status of mainstream energy source.”China’s biggest refiner China Petroleum & Chemical Corp., better known as Sinopec, touted the gas in a recent broadcast on state television, and the National Development and Reform Commission, the nation’s top planning body, selected it as one of the nation’s “future industries.” Sinopec has about 27 pilot hydrogen refueling stations and plans to expand the network to around 1,000 by 2025.“In some cases it will be hydrogen as a gas or liquefied form, and in some cases people are looking at carriers of hydrogen like ammonia, potentially as a fuel for marine,” said Shell’s Bentham.Refiners are already among the biggest hydrogen producers because they use it to remove sulfur from fuels and to maximize production of gasoline and other lighter fuels. With less gasoline needed, some of that hydrogen can be diverted. But current production of the gas is largely powered using fossil sources, with every kilogram of hydrogen producing about 10 kilograms of CO2, according to Ramakumar.Like most companies studying hydrogen, Indian Oil is banking on eventually using electricity from wind, solar and hydro power to make carbon-free hydrogen by electrolysis, but it’s also looking at making the fuel from compressed biogas.Whatever the production method, the cost of making hydrogen needs to drop substantially if it’s to compete commercially with natural gas. That may mean finding places with cheap renewable energy, such as Chile and Saudi Arabia, or relying on improved technology. Under India’s National Hydrogen Energy Mission roadmap, the country could use renewables to make some of the world’s cheapest hydrogen, according to BloombergNEF.4. Make biofuelsHydrogen isn’t the only option. An alternative popular in countries like Indonesia and Malaysia that produce palm oil, is to adapt refineries to produce biofuels. “There are limitations to the amount of vegetation and land available for developing those kinds of fuels, but they are there and they will play a role,” said Shell’s Bentham.Indonesia, the world’s largest palm-oil producer, is planning to produce more biofuels at existing petroleum refineries and also set up dedicated refineries to turn palm oil into biodiesel. It increased the required blend of palm biodiesel to 30% last year. Marathon Petroleum Corp., the largest U.S. refiner, is converting a plant in Dickinson, North Dakota, to make renewable diesel, while Phillips 66’s Rodeo refinery near San Francisco will make fuel from used cooking oil and other fats. Refiners in Asia and across the globe are also investing in a host of technologies in renewables, energy storage and other alternative fuels. Indian Oil is evaluating prototype batteries based on aluminum-air technology with Israeli startup Phinergy. Trials could take six months to a year and, if successful, would lead eventually to a gigawatt-scale manufacturing facility, Ramakumar said.5. Capture carbonEven with the switch to plastics and hydrogen, refineries and the fuels they make will still produce greenhouse gases, so a third part of the plan has to include ways to capture those gases and store or reuse them. The methods to do this have generally been too expensive to be commercial, but rising penalties for CO2 emissions and increased spending on technology are likely to balance the equation.China’s Sinopec aims to have a 1 million ton carbon capture project running by 2025, while Indian Oil plans to turn carbon monoxide and CO2 into ethanol at its Panipat refinery. To get the technology to work, some companies are teaming up with innovative startups. South Korea’s biggest refiner, SK Innovation Co., has joined a carbon capture and storage research project led by Norway-based Sintec.6. Get it rightThe speedy adoption of technologies such as electric vehicles is causing the biggest shock to the oil industry in half a century and navigating a way through the changes that have already begun won’t be easy. There are likely to be far fewer oil refineries in the second half of the century and the ones that survive will need to adapt rapidly and embrace new markets and new production systems. “Refiners can no longer ignore these emerging technologies and no longer can they just rely on traditional refining,” WoodMac’s Gupta said. “Non-conventional ways will become more conventional.”(Adds detail on Shell refinery sale in 11th paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

Refiners Stash Gasoline on Ships With Crucial Pipeline Cut Off

From Yahoo Finance May 12, 2021

(Bloomberg) -- Refiners on the U.S. Gulf Coast are booking ships to warehouse their growing fuel stockpiles after the shutdown of North America’s biggest petroleum pipeline cut off the nation’s fuel belt from major cities on the East Coast.Valero Energy Corp., Phillips 66 and Marathon Petroleum Corp. have preliminarily rented four non-U.S. flagged ships that can stow almost 3 million barrels of fuels such as gasoline and diesel from 15 to 40 days, according to people familiar with the matter. The largest of the tankers has the capacity to hold 1 million barrels of refined product, they said.The charters come as the outage on the Colonial Pipeline Co. system, which transports about 2.5 million barrels to the East Coast, enters its fourth day. Gas stations from Alabama to Virginia have reported gasoline shortages. Meanwhile, several refiners have rushed to secure ships to store their excess gasoline and diesel production to avoid taking the potentially expensive step of shutting operations until Colonial restarts, according to the people.Before Colonial was attacked by hackers, America’s refiners were ratcheting up their operations to meet an expected spike in demand this summer as newly vaccinated Americans resume major travel. Onshore inventory in the Gulf Coast has already been filling up with their rising fuel production, making the need to find storage after the pipeline hack even more pressing. Filling stations are running dry in the U.S. South as the outage leaves limited options for getting fuel to market.Valero and Phillips 66 didn’t respond to emails seeking comment. “We are leveraging our logistics network and commercial relationships as we work to keep our customers supplied with fuel” as market conditions associated with the Colonial shutdown evolve, Marathon spokesman Jamal Kheiry said in an email.The tankers booked so far include the Energy Centurion, Khawr Aladid, Ayse C and Nave Titan, they said.Some U.S. refiners have begun curtailing operations. Total SE’s Port Arthur refinery in Texas shut its sole FCC over the weekend, while Citgo Petroleum Corp cut rates at its Lake Charles, Louisiana, refinery. Meanwhile, Danish oil product tanker company Torm said four long-range 2 tankers were booked this week to take refined fuels to the U.S. Atlantic Coast from Europe.Colonial has said it expects to substantially restore service by the end of the week. The company manually restored operations on one segment, Line 4, on Monday, while existing inventory was available, and said yesterday additional laterals were operating similarly. Any cargoes sent to the four foreign-flagged tankers would likely be shipped outside the U.S., even after Colonial returns, the people said. The Jones Act requires that only U.S.-flagged ships transport goods from one American port to another.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.