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Business Wire (May 8, 2013)
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Business Wire (May 2, 2013)
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at MarketWatch.com (Tue, 5:26PM)
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Business Wire (May 8, 2013)
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at MarketWatch.com (May 2, 2013)
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Business Wire (May 2, 2013)
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at MarketWatch.com (May 1, 2013)
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at MarketWatch.com (May 1, 2013)
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at CNBC.com (May 1, 2013)
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at MarketWatch.com (May 1, 2013)
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Business Wire (May 1, 2013)
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at MarketWatch.com (Apr 30, 2013)
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at MarketWatch.com (Apr 23, 2013)
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at MarketWatch.com (Apr 22, 2013)
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Business Wire (Apr 17, 2013)
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at MarketWatch.com (Apr 11, 2013)
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at CNBC.com (Apr 10, 2013)
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at MarketWatch.com (Apr 10, 2013)
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at MarketWatch.com (Apr 5, 2013)
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at MarketWatch.com (Apr 4, 2013)
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at CNBC.com (Apr 3, 2013)
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at MarketWatch.com (Apr 3, 2013)
PSX vs. ETF Alternatives
Company Description
Following our separation from ConocoPhillips, we believe we will have a unique approach to downstream integration through our combination as a leading refiner with significant marketing and transportation assets, one of the largest domestic producers of natural gas liquids (NGL), and one of the... More
- All
- | Earnings
- | Dividends
- | M&A
- | On the move
- Thursday, May 16, 9:59 AM T. Boone Pickens added nearly 125K shares in Apache (APA) and more than 500K shares in Goodrich Petroleum (GDP) to his energy fund during Q1. He bought new stakes in MPC, PSX and HK, and sold positions in SWC, RRC and RIG. The fund’s top holding Pioneer Natural Resources (PXD); Pickens added ~43K shares. 1 Comment [Energy]
- Wednesday, May 8, 3:44 PM Phillips 66 (PSX) declares $0.3125/share quarterly dividend, in line with previous. Forward yield 1.97%. For shareholders of record May 20. Payable June 03. Ex-div date May 16. (PR) 2 Comments [Dividends]
- Wednesday, May 8, 2:21 PM Calling the U.S. renewable fuels mandate "unworkable," Phillips 66 (PSX) CEO Greg Garland says lawmakers should stop raising the amount of ethanol required to be mixed into gasoline, an issue he says affects the entire refining industry. The EPA's proposal plus flat/declining U.S. demand for gasoline means refiners may hit the blend wall by 2014, after which more ethanol can't be added to the fuel supply. 6 Comments [Energy]
- Monday, May 6, 3:28 PM Behind perennial leaders GM, Exxon (XOM) and Wal-Mart (WMT) at the top of the Fortune 500 list is a new no. 4, Phillips 66 (PSX). Spinoffs such as PSX have become a favorite of investors who prefer focused companies to diversified ones, The Economist writes; of the 80 U.S. spinoffs worth at least $500M each during 2002-12, the parent companies have returned 35% while spun entities have delivered 70%. Comment! [Energy]
- Thursday, May 2, 12:07 PM Kinder Morgan Partners (KMP +1.5%) will expand its Sweeny Lateral pipeline to Phillips 66's (PSX +1.3%) Sweeny refinery in Texas, increasing the line's capacity to 100K bbl/day from 30K. KMP also will add new pumps and an additional storage tank. The project is expected to immediately add to cash available to KMP unitholders upon completion at the end of this year. 1 Comment [Energy, On the Move]
- Wednesday, May 1, 6:18 PM "We want to be viewed as less of a refiner and more as an energy manufacturing and logistics company," Phillips 66 (PSX) CFO Greg Maxwell says in today's conference call - a wise strategy, since high margins boosting refiners may fade away as new pipelines eliminate market gluts that cause steep discounts for U.S. and Canadian crude. On cue, PSX's Q1 earnings report included plans to build a 100K bbl/day natural-gas liquid fractionator in Texas. Comment! [Energy]
- Wednesday, May 1, 8:38 AM More on Phillips 66's (PSX) Q1 results: Says comparable profit for the year-ago period was $636M, or $1.00/share. Refining segment's adjusted earnings doubled to $909M, reflecting higher gasoline and distillate market crack spreads. Chemicals segment's adjusted earnings rose 30% to $282M, primarily due to higher margins. Shares +2.9% premarket. Comment! [Energy, Earnings, On the Move]
- Wednesday, May 1, 8:03 AM Phillips 66 (PSX): Q1 EPS of $2.19 beats by $0.31. (PR) 1 Comment [Earnings, Breaking News]
- Wednesday, May 1, 12:05 AM Notable earnings before Wednesday’ s open: AB, ADT, AFAM, AFSI, AGN, AH, AMT, ARW, AVA, CCJ, CHK, CLH, CLX, CMCSA, CVH, CVS, DLPH, DVN, ENR, EXAS, EXC,GRMN, GWR, H, HSP, HUM, ICE, IPGP, IQNT, IRM, JRCC, KCG, KFN, MA, MKL, MRK, NVO, PDCE, PKD, POR, PSX, RDC, RDN, SEE, SPW, TLM, TWX, VG, VIAB, VPHM Comment! [Earnings]
- Tuesday, April 30, 5:30 PM Notable earnings before Wednesday’ s open: AB, ADT, AFAM, AFSI, AGN, AH, AMT, ARW, AVA, CCJ, CHK, CLH, CLX, CMCSA, CVH, CVS, DLPH, DVN, ENR, EXAS, EXC,GRMN, GWR, H, HSP, HUM, ICE, IPGP, IQNT, IRM, JRCC, KCG, KFN, MA, MKL, MRK, NVO, PDCE, PKD, POR, PSX, RDC, RDN, SEE, SPW, TLM, TWX, VG, VIAB, VPHM Comment! [Earnings]
- Wednesday, April 17, 5:50 PM Deutsche Bank lowers its stock target prices on several refiners, expecting weak margins to weigh on earnings in Q2 and in 2013 as producing gasoline gets less profitable. The new target for Buy-rated Holly Frontier (HFC) is $58, down from $68. Hold-rated refiners with reduced targets: ALJ, CLMT, CVI, DK, MPC, PBF, PSX, TSO, VLO, WNR. Comment! [Energy, Quick Ideas]
- Friday, April 12, 12:26 PM Oppenheimer points to four reasons that may allow refining stocks to recover from their recent selloff: continued wide differentials between WTI and Brent pricing; continued cheap natural gas; growing diesel and gasoline imports; declining environmental spending. But it's another difficult day for sector stocks the firm likes: HFC -1.2%, MPC -3.5%, PSX -2.9%, TSO -1.6%, VLO -2.8%. 7 Comments [Energy, Quick Ideas, On the Move]
- Thursday, April 11, 3:33 PM Phillips 66 (PSX -2.9%) shares slump as it reports an emission at its Rodeo refinery in California related to an unplanned unit shutdown. It's part of a broad slump in refiners today, picking up pessimism in the sector which has led to sharp recent losses: VLO -4.8% (despite a plug by Jim Cramer), HFC -4.4%, TSO -3.3%, MPC -3.2%, WNR -2.9%, CVI -2.4%, ALJ -2.3%, NTI -2.2%. 4 Comments [Energy, On the Move]
- Friday, April 5, 12:49 PM Refiners are mixed today - VLO +1%, TSO +1%, PSX -0.2% - as the sector licks its wounds after this week's selloff, and Dimitra DeFotis of Barron's suggests its time to take profits as the market recognizes the stocks have come too far too fast. In particular, Tesoro and Marathon Petroleum (MPC) are up 106% and 99% Y/Y, respectively. 3 Comments [Energy]
- Thursday, April 4, 2:35 PM Cowen's Sam Margolin notes gasoline margins have fallen 35% since March 8, which may keep refiner stocks volatile near-term, but he likes the medium-term picture as prices stabilize. Top drivers of refining stock performance over the past two years - accelerated return of cash, monetization of secondary assets, feedstock cost advantages vs. competing global refineries - remain in place for the coming year. 5 Comments [Energy]
- Wednesday, April 3, 5:15 PM Most troubling for refiners amid a two-day rout: Crack spreads have tumbled recently, with gasoline at a premium of $29.81/bbl to WTI today; it was $33 a week ago. As Bloomberg notes, the narrowing is due to a decline in gasoline prices, which hurts refiners: "People are factoring in some refineries coming back online, and we’ve yet to see any pick-up in demand,” one analyst says. 7 Comments [Energy]
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neobliviscar: $COP crawled down before earnings & delayed bounce thereafter. $PSX probably delayed too. Been rotating out of $COP & slowly into $PSX -
zorro2828: PSX with chemicals is way better than COP ... BUY BUY BUY!
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Derrick Lilly: So cheap on forward earnings now. Can't believe it's not popping. -
jonkevinlai: Great for Longs from an owner look-through-earnings perspective. Mr Market can agree at a later date. I'm fine with that. :)
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Michael Fitzsimmons
Higher Q1 2013 chemical results at $XOM bolds well for CPChem: the 50-50 JV between $CVX and $PSX - View all 0 replies
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Michael Fitzsimmons
Higher Q1 2013 US downstream results for $XOM bolds well for refiners like $PSX. - View all 0 replies
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wigit5: yeah i struggle back and forth with psx, i only have like 75 shares courtesy of the spin off... so obviously they have been good to me.
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nick1991721: i find so many people waiting for the good news of the Q1'performence.
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Perkins Cove: @wheelz, excellent link! All good points to absorb, not just read and file away. Kudos to you and Jeff Pierce, at "Zentrader"
LATEST REPLIES
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neobliviscar: $COP crawled down before earnings & delayed bounce thereafter. $PSX probably delayed too. Been rotating out of $COP & slowly into $PSX
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zorro2828: PSX with chemicals is way better than COP ... BUY BUY BUY!
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Derrick Lilly: So cheap on forward earnings now. Can't believe it's not popping.
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jonkevinlai: Great for Longs from an owner look-through-earnings perspective. Mr Market can agree at a later date. I'm fine with that. :)
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wigit5: yeah i struggle back and forth with psx, i only have like 75 shares courtesy of the spin off... so obviously they have been good to me.
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nick1991721: i find so many people waiting for the good news of the Q1'performence.
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Perkins Cove: @wheelz, excellent link! All good points to absorb, not just read and file away. Kudos to you and Jeff Pierce, at "Zentrader"
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pollyserial: May try some calls on GLD early next week for a quick bounce but am now expecting metals to get a BIG takedown here into May. -
pollyserial: Will look to re-establish long term position mid May/ June, because I agree, this is blatant outright manipulation.
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Michael Fitzsimmons: yup - a very nice up day on increasing volume. what a stock!
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jmok322: good time to buy in on this pullback Michael? Or is there the price justified with increasing EPA requirements and declining spread?
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Michael Fitzsimmons
RBOB gasoline up another half a percent today. $PSX up some...would like to see more volume. - View all 3 replies
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Michael Fitzsimmons: I didn't see that wigit - do you have a link to share?
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jonkevinlai: Seems irrational for a fear that *may* hit @ 2017... and as a business PSX has so much more to the upside to come.. Long $PSX
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wigit5: about to hit $69 lol Michael write some more bull articles we need $70 for easter!!
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wigit5: Yep large volatility swings in this stock ever since it hit mid $50s
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Todd Johnson
$LNKD, $CVRR, $NTI, $VLO, $PSX, $HFC, $ALDW Yes, it was a good day. http://bit.ly/RBSr1B http://bit.ly/TlUB5c - View all 12 replies
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embryorambo: Todd how do you justify being long LNKD? Just waiting to sell to the greater fool? -
James Sands: It's justified assuming you got in, in the $80-90 range, and have appropriately trimmed profits and continue to hold a small position imo...
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