Phillips 66 (PSX)

Phillips 66's stock price has fluctuated, with a decline of 12.65% between June 24, 2024, and June 23, 2025, but a 45.41% return over the preceding six months as of April 14, 2024. The stock reached an all-time high of $174.08 USD on April 4, 2024. The company reported a first-quarter loss of $0.90 per share, below estimates. Refining margins experienced a plunge due to factors like softened demand from China, but are anticipated to recover. Phillips 66 has been returning capital to shareholders, distributing $8.3 billion through share repurchases and dividends since July 2022, with a target of $13 billion to $15 billion by the end of 2024. Recent company news includes the release of its 2025 Sustainability and People Report, an announcement regarding its second-quarter financial results, and participation in the J.P. Morgan 2025 Energy, Power, Renewables & Mining Conference. Additionally, an executive vice president recently sold 9,800 shares.

Demand for Phillips 66's products experiences seasonality, with lower results in the fourth quarter due to seasonally lower margins and decreased sales volumes. Healthy refining margins are anticipated during the summer driving season. A shift in OPEC policy is expected to contribute to a more stable environment even in a modest economic downturn.

Phillips 66 is a diversified energy manufacturing and logistics company operating in the Oil & Gas Integrated Operations industry. The company operates through four segments: Refining, Midstream, Chemicals, and Marketing & Specialties. It transforms crude oil into petroleum products like gasoline, diesel, and jet fuel, and produces petrochemical feedstocks and specialty chemicals through its joint venture, CPChem. The company also manufactures specialty products, including tailored fuels, lubricants, and petroleum cokes.

Phillips 66 has a global presence with operations in North America, Europe, and Asia, including refineries in New Jersey, Louisiana, the UK, and Malaysia. It operates approximately 8,500 retail outlets in 44 U.S. states under brands like Phillips 66, Conoco, and 76, and Jet filling stations in several European countries. The company's logistical infrastructure includes over 18,000 miles of pipelines across the U.S., 39 finished product terminals, and a marine and rail fleet. In fiscal year 2024, the United States was the largest contributor to Phillips 66's revenue, followed by the United Kingdom and Germany.

Phillips 66 has focused on sustainability efforts, releasing its 2025 Sustainability and People Report. The company addressed its brand reputation by issuing a statement to counter attempts by Elliott Management to mislead investors, reaffirming its strategy and the capabilities of its Board.

Phillips 66 has a diverse ownership structure, with institutional investors holding a significant stake. As of April 2025, institutional investors owned approximately 86.03% of the company's shares. As of June 2025, institutional shareholders held 74.46%, Phillips 66 insiders held 11.75%, and retail investors held 13.80% of the shares. Major institutional shareholders include Vanguard Group Inc., BlackRock, Inc., and State Street Corp. Berkshire Hathaway Inc. is the largest individual shareholder, possessing 45.69 million shares, representing 11.21% of the company.