WLK - Phillips 66: Alliance Refinery Is A Big Headache - Sell It Or Shut It

September, 17 2021 07:55 PM Westlake Chemical Corporation

Phillips 66's Alliance refinery in Louisiana has been one big headache: it's either hurricanes or very low profitability.
In an era of ESG and EVs, it makes sense for PSX to either sell it - or if it cannot - simply shut it down.
That said, during the current refining slump, it is clear that Phillips 66's long-term strategic plan to diversify away from refining into midstream and chemicals is paying big dividends.
Meantime, the stock pays a $3.60/share annual dividend and yields 5.5%. PSX is a HOLD.

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Company Name:	Westlake Chemical Corporation
Stock Symbol:	WLK
Market:	NYSE
Website:	westlake.com