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 snaps eight straight days of losses [Seeking Alpha]Seeking Alpha
- Phillips 66 to speak at Goldman Sachs Energy, CleanTech & Utilities ConferenceBusiness Wire
- Phillips 66 Optimizes Portfolio With $865M Pipeline Sale [Yahoo! Finance]Yahoo! Finance
- Laser Photonics Wins Dual Order From Phillips 66 [Yahoo! Finance]Yahoo! Finance
- Phillips 66 to announce fourth-quarter and full-year financial resultsBusiness Wire
PSX
Earnings
- 10/29/24 - Miss
PSX
Sec Filings
- 12/9/24 - Form 4
- 12/9/24 - Form 4
- 12/9/24 - Form 4
- PSX's page on the SEC website