New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 7, 2014
12:02 EDTPSXPhillips 66 receives board approval to move forward with investment in Texas
Phillips 66 has received approval from its board of directors to move forward with both its Sweeny Fractionator One and Freeport Liquefied Petroleum Gas Export Terminal. These two projects represent an investment of more than $3B as part of the company’s Midstream growth program. The Sweeny Fractionator One will be located in Old Ocean, Texas, close to the company’s Sweeny Refinery, and will supply purity natural gas liquids (NGL) products to the petrochemical industry and heating markets. Y-grade supply to the fractionator will come from nearby major pipelines, including the recently completed Sand Hills Pipeline, in which Phillips 66 owns a direct one-third interest. The 100,000 barrel-per-day NGL fractionator is expected to start up in the third quarter of 2015. The Freeport LPG Export Terminal will be located at the site of the company’s existing marine terminal in Freeport, Texas, and will leverage Phillips 66 midstream, transportation and storage infrastructure to supply petrochemical, heating and transportation markets globally. The terminal will have an initial export capacity of 4.4 million barrels per month, the equivalent of eight very large gas carriers with a ship loading rate of 36,000 barrels per hour. Startup of the export terminal is expected in mid-2016.
News For PSX From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
February 9, 2016
12:04 EDTPSXTortoise Capital reports 6.5% passive stake in Phillips 66
Subscribe for More Information
10:17 EDTPSXActive puts: IWM PSX SPY JBLU
Subscribe for More Information
February 4, 2016
13:27 EDTPSXPhillips 66 rises after Buffett adds to position
Subscribe for More Information
February 3, 2016
11:37 EDTPSXOptions with increasing put volume; PSX CDNS DF WDR MELI MAS NOV WSM DB
Subscribe for More Information
January 31, 2016
16:18 EDTPSXBerkshire Hathaway acquires additional 2.54M shares of Phillips 66
In a regulatory filing late Friday, Berkshire Hathaway (BRK.A, BRK.B) disclosed the purchase of an additional 2.54M shares of Phillips 66 (PSX). The purchases were made January 27-29.
January 29, 2016
12:56 EDTPSXPhillips 66 says expects 'stronger gasoline growth globally' in 2016
Subscribe for More Information
12:48 EDTPSXPhillips 66 says expects CapEx to decline over next several years
Subscribe for More Information
12:21 EDTPSXPhillips 66 sees Q1 pre-tax refining turnaround expenses approximately $150M
Subscribe for More Information
12:09 EDTPSXPhillips 66 sees 2016 pre-tax refining turnaround expenses $525M-$575M
Subscribe for More Information
12:08 EDTPSXPhillips 66 says targeting 2016 dividend increase of at least 10%
Comment from company's Q4 earnings conference call.
07:03 EDTPSXPhillips 66 executing on plan to grow Midstream and Chemicals business
Subscribe for More Information
07:01 EDTPSXPhillips 66 reports Q4 adjusted EPS $1.31, consensus $1.25
We operated well in the quarter, as refining capacity utilization remained high and clean product yield increased," said Greg Garland, Chairman and CEO. "We also reached a significant milestone with the Sweeny Fractionator One and Clemens Caverns coming online. Solid execution in the fourth quarter generated $1.5 billion of cash from operations, and we returned over $700 million to shareholders through dividends and share repurchases." Phillips 66's Midstream fourth-quarter adjusted earnings were $42 million, a decrease of $49 million from the third quarter. Phillips 66's Transportation business generated adjusted earnings of $78 million during the fourth quarter, consistent with the third quarter. NGL adjusted losses were $2 million for the fourth quarter. The $34 million decrease from the prior quarter was largely driven by the timing of adjustments related to the tax extenders bill, signed in December, as well as additional costs associated with the Sweeny Hub.
January 28, 2016
14:29 EDTPSXNotable companies reporting before tomorrow's open
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use