PSX - The Turnaround Star - Why I See Over 40% Upside For Phillips 66
2024-02-12 16:21:30 ET
Summary
- Phillips 66 has achieved $1.2 billion in cost savings and is focused on efficient capital allocation, enhancing profitability.
- The company maintains a healthy balance sheet and a solid return on capital employed of 16%.
- Phillips 66 is committed to increasing shareholder distributions through dividend hikes and aggressive buybacks, offering attractive investment opportunities.
Introduction
Phillips 66 ( PSX ) has become one of my favorite stocks to cover. In general, I have always liked covering the company due to its significant footprint in the refinery and chemical industries.
However, in my most recent article , published on December 5, I covered a major new development, including an activist investor, going with the title "60% Gains Plus Dividends With Phillips 66 If Elliott Is Right." ...
The Turnaround Star - Why I See Over 40% Upside For Phillips 66