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DCP - Challenging Market Conditions Whacked This Energy Stock's Q4 Results
DCP Midstream LP
The fourth quarter was a tough one for the refining sector as market conditions deteriorated due to concerns about falling demand. That softness, along with some maintenance activities, weighed on Phillip 66's (NYSE: PSX) financial results during the period.
However, the company was still able to produce lots of cash, which gave it funds to invest in a growing number of expansion projects, as well as in its dividend and stock repurchases. Those actions have the company well-positioned to continue creating value for its shareholders this year.