Phillips 66 (PSX)

Phillips 66's stock has underperformed the S&P 500 Index over the past year. In Q1 2024, the company reported a loss due to refinery turnaround work and rising commodity prices. Elliott Investment Management has been actively engaged with Phillips 66's management, and four new board members were elected, including two nominated by Elliott Investment Management, leading to a stock price decline. Phillips 66 has focused on shareholder returns, distributing nearly $10 billion through share repurchases and dividends, and announced a 10% increase in its quarterly dividend. The company completed a large spring turnaround program under budget and acquired EPIC NGL. Analyst estimates for Phillips 66's earnings have seen downward revisions.

Demand for Phillips 66's products exhibits seasonality, with refining margins typically weakening in the fourth quarter. The company prepares for peak summer demand for refined products. The Blue Line System offers transportation services primarily during the winter seasons. The chemicals sector can also be affected by global demand.

Phillips 66 is a diversified energy manufacturing and logistics company operating in the Oil & Gas Refining & Marketing industry. The company operates through Midstream, Chemicals, Refining, Marketing and Specialties (M&S), and Renewable Fuels segments. It refines crude oil into petroleum products and produces petrochemical feedstocks and specialty products. Through CPChem, it manufactures and markets ethylene, olefin products, aromatics, styrenics, and specialty chemical products. Phillips 66 is a leading producer of petroleum cokes and polypropylene, marketing its products under brands like Phillips 66, Conoco, 76, JET, Kendall, and Red Line. Its Midstream segment handles natural gas and NGLs.

Phillips 66 has a global presence with operations in North America, Europe, Asia, the Middle East, and Africa. In the U.S., it operates approximately 8,500 retail outlets under brands like Phillips 66, Conoco, and 76. In Europe, it operates Jet filling stations and uses the Coop identity in Switzerland. The company manages an extensive infrastructure, including 13 refineries with a net crude oil capacity of 2.2 million barrels per day, 18,000 miles of pipelines, 7 marine terminals, 25 storage terminals, and 3 crude oil gathering systems. In fiscal year 2024, the United States accounted for 79.35% of its total revenue, followed by the United Kingdom (8.88%), Germany (3.68%), and other countries (8.09%).

Phillips 66 has highlighted its commitment to sustainability and operational excellence, releasing its 2025 Sustainability and People Report in June 2025. The company has also received safety awards recognition, indicating a positive reputation in terms of operational safety. No significant negative events specifically impacting Phillips 66's brand reputation in the past year were found in the provided search results.

Institutional investors hold a significant stake in Phillips 66, owning approximately 77% to 86.03% of the company's shares. As of April 2025, 2684 institutional owners and shareholders held a total of 350,882,130 shares. Major institutional owners include Vanguard Group Inc, BlackRock, Inc., State Street Corp, Wells Fargo & Company/mn, Elliott Investment Management L.P., Harris Associates L P, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, VFINX - Vanguard 500 Index Fund Investor Shares, XLE - The Energy Select Sector SPDR Fund, and Bank of New York Mellon Corp. Retail investors hold approximately 55.89% of Phillips 66's stock, while insiders own less than 1%.