PSX News and Press, Phillips 66 From 07/22/20

Dividends have been under intense pressure this year. More than 175 publicly traded companies have either slashed their payout by more than 50% or suspended it all together. That dividend carnage has investors beginning to hate all dividend stocks, even though many payouts will survive this yea...

The  S&P 500 Index  (SNPINDEX: ^GSPC) closed relatively flat on July 21, up 5.5 points, or 0.17%. Yet while the index was not very volatile, oil stocks were surging higher. Nine of the top 10, and 17 of the top 20 biggest-gainers in the index today were oil and gas stocks, includ...

Shares of refiner Phillips 66 (NYSE: PSX) jumped nearly 7% in early trading on July 21. That gain was easily outdone by energy services giant Halliburton (NYSE: HAL) , which rose 12%. But tiny U.S. oil driller Centennial Resource Development (NASDAQ: CDEV) was the bigger winner at the...

The stock market has posted amazing gains since March, but when you look past the major indexes to see what's happening, you get a much different picture. There's been a tug of war between young tech companies and old-economy stocks, and for the most part, the upstarts have stolen the show in 20...

Valero Energy ( VLO -1.3% ), Holly Energy Partners ( HEP +3.5% ), Phillips 66 ( PSX -1.8% ), Phillips 66 Partners ( PSXP -0.4% ) are upgraded to Buy from Hold at Jefferies, which foresees better than expected operating rates in Q2 and "with expectations for a 2Q trough, value aboun...

Bulls in the refining sector have argued almost since the COVID-19 pandemic began that U.S. gasoline demand will be higher than average this summer. The expectation of a more-than-complete recovery to U.S. gasoline demand is premised on the argument that Americans have, in response to the ongo...

Phillips 66 (NYSE: PSX ) says the number of COVID-19 cases across the company's sites has grown to 160, with 57 currently active cases including several hospitalizations, the company reportedly told employees today in an email. More news on: Phillips 66, Energy stocks news, Read mo...

The District of Columbia's U.S. Circuit Court of Appeals has set aside for now a judge's order that Energy Transfer's (NYSE: ET ) Dakota Access Pipeline be shut down and emptied of oil by Aug. 5. More news on: Energy Transfer LP, Enbridge Inc., Phillips 66, Energy stocks news, Read...

Introduction When news regarding the court ruling against the Dakota Access Pipeline came out last week, the unit price of Phillips 66 Partners ( PSXP ) fell around 17% in a single trading session. Despite staging a slight recovery in the following trading sessions, this has still pushed...

The energy sector has gained the distinction of the most-hated market sector over the last few years. Excess oil supply coupled with plummeting demand resulted in oil prices briefly falling into negative territory. However, the latest developments give a glimmer of hope to this seemingly gloomy ...