PSX News and Press, Phillips 66 From 06/22/22

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 shareh...

Stock momentum is an inadequate way to grade a stock. Investors should not sell stocks months after they fell. Energy stocks are a buy. For further details see: Why Wells Fargo's Bearish List Of 50 Stocks To Sell Is Wrong

A recession is 74% priced into stocks and there is a remote chance economic conditions could push the S&P 500 (SP500) (NYSEARCA:SPY) more than 1,000 points lower, Societe Generale says. Fair value of the S&P based on earnings remains at 3,850, but a couple more dominoes need to fall b...

US refining margins continue to march higher, as the ongoing supply crisis is compounded by talks of stimulating demand and cutting exports:  Weekly reports from the Department of Energy have shown gasoline demand has struggled to surpass 2021 levels in the US; however, cutting the feder...

WTI crude prices (CL1:COM) have eased from $120 to $110 a barrel over the past week, while the national average gas price dipped under $5 a gallon, but the cost of energy still remains at elevated levels. Biden administration officials are still scrambling to contain the fallout, with the rec...

InvestorPlace - Stock Market News, Stock Advice & Trading Tips With the market rattled from various negative events colliding, it’s time to get whatever you can from the market with high-yield dividend stocks to buy. Essentially, waiting for growth-centric names to provide robus...

Corporate outlooks are set to shift dramatically next earnings season and some stocks will be vulnerable to reversal, Wells Fargo says. Senior Equity Strategist Chris Harvey picked a "group of stocks (that) will underperform the market until we hear the Fed reference a slowing economy." ...

Shares of ExxonMobil (NYSE: XOM) , Chevron (NYSE: CVX) , and Phillips 66 (NYSE: PSX) plunged on Friday, down 5.6%, 5.6%, and 5.7%, respectively, as of 1:43 p.m. ET. The sector was an outlier, as the broader indexes were rallying at that time. As is usually the ca...

Energy stocks (XLE) have retraced all of their gains since Russia's invasion of Ukraine, are down ~15% from recent highs and still well below all-time highs reached in 2014. Yet oil prices (USO) remain elevated in the face of historic reserve releases and a lockdown of the Chinese econom...

There are not enough refineries running to supply the world's demand for gasoline and diesel, so inventories are falling and margins are ~500% above any point in recent history. There isn't enough supply of oil to feed the refineries that are running, so inventories are falling, and prices ar...