NYSE:PSXOil and Gas
Phillips 66 Refocuses Portfolio As Lower Crude Supports Refining Margins
Phillips 66 (NYSE:PSX) is selling non core assets to free up capital for other uses and shareholder returns.
The company is using a weaker crude price backdrop to support refining margins and overall profitability.
Management is leaning on its mix of refining, midstream, chemicals, and renewables to keep cash generation balanced.
For investors tracking NYSE:PSX, this shift in the asset base and capital use comes with the stock around $148.09 and multi year returns of 24.3% over the past...