CA - Phillips 66 Still Has Fuel To Move Higher
2024-03-06 09:53:02 ET
Summary
- Phillips 66, with a market capitalization of $63.5 billion, is one of the largest energy companies globally.
- Despite volatility in its operations, the long-term outlook for the company remains positive.
- Management is making major investments in the business' future, and the stock is attractively priced compared to similar firms.
With a market capitalization of $63.5 billion, Phillips 66 ( PSX ) is one of the largest energy companies, not only in the US, but across the globe. Despite this, I feel like the firm does not receive all that much attention from investors. Even I have not kept track of its operations as closely as I should. The last time I wrote about the business, for instance, was in an article published in February of 2018. At that time, the discussion centered around an agreement struck between the firm and Warren Buffett’s Berkshire Hathaway ( BRK.A ) ( BRK.B ) whereby Phillips 66 would be acquiring $3.3 billion of its shares back from the conglomerate....
Phillips 66 Still Has Fuel To Move Higher