Goldman Sachs downgrades Phillips 66 to ‘neutral' as it sees limited upside [Yahoo! Finance]
Phillips 66 (PSX)
Last phillips 66 earnings: 5/1 07:00 am
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Source: Yahoo! Finance
The firm maintained its price target of $132, implying an 8% total return from current levels. Goldman noted that Phillips 66's outperformance has been driven by its strategic pivot toward midstream, progress on its $3 billion non-core asset disposition target, and cost reduction efforts. However, analysts believe these positives are now priced in. "We view these items as better reflected in the current stock price with shares approaching our 6-month price target of $132/sh," the note said. While the firm remains constructive on the company's diversified business mix and midstream earnings contributions, it sees limited near-term catalysts. Improvements in refining, including higher capture rates, are expected to take multiple quarters before
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PSX
News
- Phillips 66 completes EPIC NGL acquisition for $2.2bn [Yahoo! Finance]Yahoo! Finance
- Phillips 66 completes acquisition of EPIC NGL [Yahoo! Finance]Yahoo! Finance
- Phillips 66 completes acquisition of EPIC NGLBusiness Wire
- Phillips 66 to announce first-quarter financial resultsBusiness Wire
- A Letter From Independent Director Bob Pease to Phillips 66 ShareholdersBusiness Wire
PSX
Earnings
- 1/31/25 - Beat
PSX
Sec Filings
- 4/2/25 - Form DFAN14A
- 4/1/25 - Form 8-K
- 3/31/25 - Form DEFA14A
- PSX's page on the SEC website