PSX - Phillips 66: 6% Capital Return Program
- Phillips 66 is well-positioned for high crude oil prices. Yet note that its refining business is its smallest segment.
- Phillips 66 carries more than $11 billion of net debt, a significant sum. This will get in the way of Phillips 66 meaningfully increasing its capital return to shareholders.
- By my estimates, PSX has an approximate 6% total shareholder return. This is fairly attractive and something to consider.
- Altogether, there's a positive risk-reward in PSX stock. But there are still some risks worthwhile discussing.
For further details see:
Phillips 66: 6% Capital Return Program