Phillips 66
Latest Phillips 66 News and Updates
Company & Industry OverviewsWhy Short Interest in Valero Soared in 2017
Valero Energy (VLO) has witnessed a rise in its short interest since mid-February 2017. MiscellaneousAnalyst Ratings for Valero: Why the ‘Hold’ Ratings?
VLO’s mean price target of $72 per share implies around a 10% gain from its current level. Company & Industry OverviewsRefining Stocks’ Implied Volatilities Tumbled in 1Q17
Refining stocks’ implied volatilities have witnessed falls in 1Q17. Marathon Petroleum’s (MPC) implied volatility fell 7% to 27.9% from January 2 to March 31, 2017. Company & Industry OverviewsPhillips 66’s Beta: Does It Imply That PSX Is Less Volatile?
Phillips 66’s (PSX) 90-day beta stood at 1.2 on March 16, 2017, below its peer average of 2.1. MiscellaneousWhy the Majority of Analysts Rate Phillips 66 as a ‘Hold’
Fifteen out of the 19 analysts covering Phillips 66 (PSX) rated it as a “hold” in March 2017. Another four analysts rated PSX as a “buy” or a “strong buy.” Company & Industry OverviewsUnderstanding the Latest Implied Volatility in Refining Stocks
Marathon Petroleum’s implied volatility currently stands at 28%—the highest level among peers Valero, Tesoro, and Phillips 66. Company & Industry OverviewsRefining Stock Betas: Who Could Pop?
On March 2, 2017, Marathon Petroleum’s 90-day beta stood at 2.0—the highest among peers Valero, Tesoro, and Phillips 66. MiscellaneousPhillips 66’s Recommendations: What the Analysts Are Saying Now
After its 4Q16 results, four of 19 analysts assigned “buy” or “strong buy” recommendations to Phillip’s 66 stock, while 15 assigned “holds.” Company & Industry OverviewsMPC’s Dropdown Plans: Where Do Its Valuations Stand?
After MPC proposed the dropdown plan, MPC’s forward price-to-earnings (or PE) and EV-to-EBITDA stood at 15.7x and 8x, respectively. Company & Industry OverviewsWhere Are Refining Stocks’ Implied Volatilities Positioned?
Marathon Petroleum’s (MPC) implied volatility currently stands at 37%, the highest among its peers. Company & Industry OverviewsHow Did Phillips 66’s Marketing Segment Perform in 3Q16?
Phillips 66’s adjusted EBITDA from its Marketing segment fell 22% from 3Q15 to $429 million in 3Q16 due to weaker marketing margins and lower volumes. Company & Industry OverviewsElliott’s Recommendation: Where Does Marathon’s Valuation Stand?
After Elliott Management’s recommendations, Marathon Petroleum’s forward EV-to-EBITDA multiple stood at 23.1x. Company & Industry OverviewsHow Refining Margins Are Key Indicators of Refining Profitability?
Refining margins are dependent on input crude oil cost, product slate, and prices of refined products and are indicators of overall profitability. Company & Industry OverviewsWhat Key Factors Impact Refining Profitability?
The key factors influencing refining profitability include refining capacity, complexity, and utilization rates. Company & Industry OverviewsUS Gulf Coast: The Largest Refining Region in the Country
The Gulf Coast, a key US refining region, accounted for 9.6 MMbpd of total refining capacity, which represents 52% of the total refining strength in the US. Company & Industry OverviewsRefined Products in the US: Which Product Is Consumed Most?
Of the total consumption of 20.2 MMbpd, in October 2016, gasoline accounts for around 9.1 MMbpd. Distillate fuel oil accounts for 4.1 MMbpd of the total. Company & Industry OverviewsHow PSX’s Operating Income Differs from Those of MPC, VLO, TSO
Refiners such as PSX, MPC, VLO, and TSO are now focusing on diversifying their earnings models to shield themselves from the volatile refining environment. Company & Industry OverviewsMarathon Petroleum’s Stock Performance: Up by 28% since June 30
Since the end of June, Marathon Petroleum’s (MPC) stock has risen by 28%. MPC has crossed over its 50-day and its 200-day moving averages during this period. Earnings ReportWhat Does an Analysis of PSX’s Short Interest Reveal?
Since mid-February 2016, Phillips 66 (PSX) has witnessed an 18% fall in its short interest. Earnings ReportHow Will Marathon Petroleum’s Refining Earnings Shape Up in 2Q16?
Marathon Petroleum’s (MPC) refining segment’s operating income plunged to -$62 million in 1Q16 due to a fall in its gross refining and marketing margin. Company & Industry OverviewsWhy Has Valero Stock Fallen 21% since the End of March?
Amid stock price volatility, Valero rose 20% from February 8–March 28, 2016, and crossed over its 50-day and 200-day moving averages. Company & Industry OverviewsPhillips 66 and the Price of Crude Oil: A Correlation Analysis
The correlation value of Phillips 66 (PSX) and crude oil prices shows that the price of PSX stock moves in line with WTI prices to a certain extent. Company & Industry OverviewsPhillips 66 Segments: A Fully Integrated Downstream Model
Phillips 66 (PSX) has segments in refining, midstream, chemicals, and marketing. In 1Q16, the refining segment contributed $86 million, or 24%, to its adjusted net income. Macroeconomic AnalysisWhy Are Gasoline Prices So High in the West Coast Region?
Gasoline prices in the West Coast region were at $2.45 per gallon on January 25, 2016—around $0.60 per gallon higher than the average US gasoline prices. MiscellaneousFall in Crude Oil Demand Could Impact Saudi Arabia the Most
Crude exports account for more than 85% of Saudi Arabia’s revenue. The economy still isn’t diversified. Saudi Arabia is already experiencing high fiscal deficit. Macroeconomic AnalysisCrack Spread Narrowed: Is There Less Demand for Crude Oil?
The benchmark US Gulf Coast 3:2:1 crack spread fell ~12.50% last week. It hit ~$13.28 per barrel on Friday, November 13, 2015. Macroeconomic AnalysisCan Outages Be Overcome by Alternate Sources of Gasoline Supply?
According to the EIA, since the Torrance outage, imported supplies of gasoline have been arriving in Southern California from all over the world. Company & Industry OverviewsZydeco Pipeline: A Shell Midstream Partners Key Asset
Shell Midstream Partners (SHLX) has a 42% ownership in the Zydeco pipeline, and Shell Pipeline Company, or SPLC, owns the remaining 57% interest. Company & Industry OverviewsMPLX LP: The Midstream Link in Marathon Petroleum’s Chain
MPLX LP (MPLX) is a master limited partnership, or MLP. It was formed by independent refiner Marathon Petroleum Corporation (MPC). Company & Industry OverviewsDCP Midstream Partners and Its Three Operating Segments
Unit price for DCP Midstream decreased 24% in the past year. The fall is particularly sharp since the end of October when its unit price crashed 32%. Earnings ReportWhy Valero Energy benefits from export opportunities
Location-advantaged refiners like Valero Energy (VLO), Phillips 66 (PSX), and Marathon Petroleum (MPC), with refineries along the Gulf Coast, can export refined products. Company & Industry OverviewsPhillips 66 Partners: The Clifton Ridge crude system
The Clifton Ridge crude system is made up of three pipelines and two terminals. It supports the Lake Charles refinery in Westlake, Louisiana. Company & Industry OverviewsBusiness overview: Phillips 66 Partners
Phillips 66 Partners (PSXP) is a master limited partnership formed by Phillips 66 (PSX). PSXP operations are integral to PSX refineries.