Earlier Reported, Phillips 66 Board Of Directors Of Phillips 66 Approved An Additional $5B In Share Repurchase Authorization
Portfolio Pulse from Benzinga Newsdesk
The Board of Directors of Phillips 66 has approved an additional $5 billion in share repurchase authorization.
October 27, 2023 | 12:45 pm
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POSITIVE IMPACT
Phillips 66's additional $5 billion share repurchase authorization could potentially increase the stock's value.
Share repurchase programs are typically seen as a positive signal by the market, as they indicate that the company believes its shares are undervalued. This could potentially lead to an increase in the stock's value in the short term.
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