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February 6, 2014
07:22 EDTPSXPhillips 66 upgraded to Buy from Hold at Argus
Argus upgraded Phillips 66 following better than expected Q4 results, increased margin expectations, and capital allocations towards higher margin chemicals and midstream businesses. Price target is $90.
News For PSX From The Last 14 Days
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January 29, 2015
08:04 EDTPSXPhillips 66 says two Midstream projects on budget and on schedule
Phillips 66 said that in Midstream, the 100,000 BPD Sweeny Fractionator One is more than 50% complete, with startup planned in the second half of 2015. Construction is also progressing on the 4.4 million-barrel-per-month Freeport LPG Export Terminal, with completion expected in the second half of 2016. Both projects remain on budget and on schedule. Phillips 66 Partners formed two joint ventures to develop the Palermo Rail Terminal and the Sacagawea Pipeline in North Dakota. The Palermo Rail Terminal is a crude oil rail-loading facility currently under construction. The terminal is anticipated to include a pipeline connection to the Sacagawea Pipeline, allowing increased outbound capacity and market access for oil producers and marketers in the Bakken region. In Chemicals, CPChem is investing in domestic growth projects to capture the benefits of low-cost petrochemical feedstocks on the U.S. Gulf Coast. During the quarter, CPChem completed the expansion of ethylene production at its Sweeny facility with the addition of a tenth furnace, which is expected to increase its annual production by 200M pounds. An expansion project is underway to increase CPChem's normal alpha olefin capacity by 220M pounds per year at its Cedar Bayou facility, with estimated completion in mid-2015. Lastly, construction continued on its world-scale USGC Petrochemicals Project with startup anticipated in mid-2017.
08:02 EDTPSXPhillips 66 reports Q4 adjusted EPS $1.63, consensus $1.37
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January 28, 2015
15:38 EDTPSXNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Celgene (CELG), consensus 99c... ConocoPhillips (COP), consensus 59c... Abbott Laboratories (ABT), consensus 67c... Occidental Petroleum (OXY), consensus 68c... Colgate-Palmolive (CL), consensus 74c... Ford (F), consensus 23c... Dow Chemical (DOW), consensus 69c... Alibaba (BABA), consensus 75c... Thermo Fisher (TMO), consensus $1.94; Time Warner Cable (TWC), consensus $2.09... Phillips 66 (PSX), consensus $1.34... Alexion Pharmaceuticals (ALXN), consensus $1.29... Baxter International (BAX), consensus $1.31... Cardinal Health (CAH), consensus $1.10... Raytheon (RTN), consensus $1.08... Northrop Grumman (NOC), consensus $2.25... Viacom (VIAB), consensus $1.28... Valero Energy (VLO), consensus $1.32... Sherwin-Williams (SHW), consensus $1.38... Hershey (HSY), consensus $1.06... Mead Johnson (MJN), consensus 88c... Zimmer (ZMH), consensus $1.71... Xcel Energy (XEL), consensus 34c... Royal Caribbean (RCL), consensus 42c... Coach (COH), consensus 66c... Kate Spade (KATE), consensus 24c... Harley-Davidson (HOG), consensus 34c... Stanley Black & Decker (SWK), consensus $1.52... L-3 Communications (LLL), consensus $2.27... JetBlue (JBLU), consensus 24c.
January 18, 2015
16:39 EDTPSXPhillips 66 could jump 50%, Barron's says
Phillips 66 shares could jump 50% after the company's restructuring, Barron's contends in a feature article. Despite falling revenues, EPS should rise, driven by lower oil costs and share repurchases, the paper adds. Reference Link
January 16, 2015
07:40 EDTPSXWolfe Research to hold a conference
1st Annual Oil & Gas 1:1 Refining Conference is being held in Boston on January 16.

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