|Bid||76.06 x 1100|
|Ask||76.84 x 1000|
|Day's range||75.15 - 76.84|
|52-week range||40.04 - 119.92|
|Beta (5Y monthly)||1.60|
|PE ratio (TTM)||92.45|
|Earnings date||24 Jul 2020 - 28 Jul 2020|
|Forward dividend & yield||3.60 (4.67%)|
|Ex-dividend date||15 May 2020|
|1y target est||82.12|
Crude oil was on fire today. WTI, the leading U.S. oil price benchmark, rose as much at 12.5% by 2:45 p.m. EDT on Monday and closed above $32 a barrel. Several soared more than 10%, including many midstream companies, known more for paying high-yielding dividends.
As I pointed out earlier this week, an event that's arguably even more anticipated than the Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) shareholder meeting is set to take place either tomorrow, May 14, or Friday, May 15. With CEO Warren Buffett guiding a 48-security portfolio worth $199 billion, as of this past weekend, his company will be one of many filing a 13F with the SEC. Having recently reported its first-quarter operating results, we know that Buffett and his team purchased $4 billion worth of equities during the quarter.
Linde plc (LIN), Phillips 66 (PSX) and Marathon Petroleum (MPC) reported better-than-expected March quarter bottom line numbers.
Phillips 66 Partners' (PSXP) first-quarter results are supported by higher throughput volumes of refined petroleum products, and a decrease in cost and expenses.
Oil stocks, on the other hand, continue to lag. The Energy Select Sector SPDR ETF (NYSEMKT: XLE), representing the oil and gas stocks in the S&P 500, is down more than 36%. For many investors, this points sharply at Big Oil -- the biggest companies in the oil patch -- as being great investments as one of the few sectors that is still well below 2020 highs.
Shares of oil refiners HollyFrontier (NYSE: HFC), Phillips 66 (NYSE: PSX), and Valero Energy (NYSE: VLO) rose between 34% and 40% in April, according to data provided by S&P Global Market Intelligence. HollyFrontier's shares were up 34.8%, Phillips 66's increased 36.4%, and Valero's soared 39.7%.
Oil prices have been all over the map this year. While we see those positives, we've also covered the oil market for years, which has tainted our bullishness a bit. If we each could only choose one of those to buy, it would be ConocoPhillips (NYSE: COP), HollyFrontier (NYSE: HFC), and Phillips 66 (NYSE: PSX).
Despite an unprecedented downturn in oil demand that's set to wreak havoc for many months ahead, there are some companies that look buy-worthy right now.
Participants on today's call will include Kevin Mitchell, Vice President and CFO; Tim Roberts, Vice President, Operations; and Rosy Zuklic, Vice President and Chief Operating Officer. Today's presentation materials can be found on the Events section of the Phillips 66 Partners website along with supplemental financial and operating information.
Phillips 66 announced the notification of an unsolicited "mini-tender" offer from TRC Capital Investment Corp.
Phillips 66's (PSX) first-quarter results are supported by higher realized marketing fuel margins in both the United States and international markets.
Low oil prices are hurting oil production companies, many of which are spending more to pump oil than they are getting for it. Here's why they expect these stocks to benefit from oil prices at these levels. Travis Hoium (Frontline): Cratering oil prices are creating conditions for a huge windfall flowing to oil tanker companies like Frontline.
Another great way to put that stimulus check to use is by creating long-term wealth by investing it in stocks. Three popular ideas for investing right now include beleaguered aerospace giant Boeing (NYSE: BA), beaten-down oil stocks, or just a low-cost index fund like the SPDR S&P 500 ETF (NYSEMKT: SPY). Bet on a turnaround for troubled Boeing that could be years in the offing, stay with the safety and diversity of the S&P 500, or make a risk/reward investment in the oil patch?
Collectively known as "Big Oil," integrated supermajors such as ExxonMobil (NYSE: XOM), Chevron (NYSE: CVX), BP (NYSE: B), and Royal Dutch Shell (NYSE: RDS.A)(NYSE: RDS.B), along with mega-producers such as ConocoPhillips (NYSE: COP) and other names such as Phillips 66 (NYSE: PSX), a giant in refining, pipelines, and petrochemicals, are viewed as the safest investments in the oil patch. Sure, these are the best-prepared companies to come through the downturn, but whether they're worth buying depends on what your goals are, and your expectations.
Lower utilizations and refining profits are likely to reflect on Phillips 66's (PSX) first-quarter results. Nonetheless, higher midstream profits might have provided some support.
Phillips 66 (PSX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Phillips 66 (NYSE: PSX) announced today it will contribute $3 million to COVID-19 relief efforts across the United States and in the United Kingdom. Of this, $1 million will be directed to the Greater Houston COVID-19 Recovery Fund and $500,000 to the Houston Food Bank. The remaining funds will be distributed to frontline organizations that are responding to the pandemic within communities where Phillips 66 operates, providing essential support for first responders, food banks, health care and other critical organizations serving vulnerable populations.