Why Phillips 66 Stock Plunged 18% in February [The Motley Fool]
Phillips 66 (PSX)
Last phillips 66 earnings: 5/1 07:00 am
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investor.phillips66.com/events-and-presentations/default.aspx
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Source: The Motley Fool
Why Phillips 66 Stock Plunged 18% in February Demand concerns weighed on the oil refiner last month. Shares of refining company Phillips 66 ( NYSE:PSX ) tumbled 18.1% in February, according to data provided by S&P Global Market Intelligence . The main issue weighing on the stock was the COVID-19 outbreak, which is starting to sap demand for oil. That more than offset some positive developments last month. Crude oil prices cratered at the end of February due to concerns that the spreading COVID-19 outbreak was hurting demand for refined products. Because of that, refining margins will likely weaken until consumption starts picking back up after fears fade. That's bad news for Phillips 66, which battled against challenging market conditions during the fourth quarter . Despite its near-term challenges, Phillips 66 announced some positive developments last month. It sold its 50% stake in the Liberty Pipeline development to its master limited partnership Phil
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News
- Phillips 66 Is Accused of Violating the Clean Water Act [The New York Times]The New York Times
- Phillips 66 faces federal charges, accused of polluting LA sewers with 790,000 gallons of wastewater [CBS News]CBS News
- Phillips 66 indicted for violating Clean Water Act, U.S. attorney says [Yahoo! Finance Canada]Yahoo! Finance Canada
- Phillips 66 indicted for violating Clean Water Act, U.S. attorney says [Yahoo! Finance]Yahoo! Finance
- Crack Spread to Soar: Add MPC, XOM and PSX to Your Watchlist [Yahoo! Finance]Yahoo! Finance
PSX
Earnings
- 10/29/24 - Miss
PSX
Sec Filings
- 11/4/24 - Form 4
- 10/29/24 - Form 10-Q
- 10/29/24 - Form 8-K
- PSX's page on the SEC website