Phillips 66: Bottom Fishing At The Bottom Of The Refining Cycle (Rating Upgrade)
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Phillips 66 (PSX) is expected to benefit from the closure of several refineries globally, which should improve profitability at its facilities and the refining market overall. PSX plans to divest $2 billion worth of assets at attractive multiples.
December 25, 2024 | 8:45 am
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Phillips 66 is expected to benefit from global refinery closures, which should improve profitability at its facilities and the refining market overall. The company plans to divest $2 billion worth of assets at attractive multiples.
The closure of refineries globally is expected to reduce competition and increase profitability for Phillips 66's facilities. Additionally, the planned divestment of $2 billion in assets at attractive multiples suggests a strategic move to optimize the company's portfolio, potentially leading to a positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100