May 8, 2019 2:15 PM
Phillips 66 (PSX) announced a 12.5% increase in its dividend, upping the quarterly dividend from $0.80 to $0.90. This added $10.80 in annual dividend income.
https://www.streetinsider.com/Dividend+ ... 71325.html
Phillips 66 NYSE: PSX p. naftowy
Re: Phillips 66 NYSE: PSX p. naftowy
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
REKLAMA
Re: Phillips 66 NYSE: PSX p. naftowy
Phillips 66's Q2: Back On Track With A 12.5% Increase In The Dividend And $3.12 In Earnings
Summary
As I suggested in my last Seeking Alpha article on Phillips 66, the company's awful Q1 was an aberration and a "one-off".
That turned out to be the case. Q2 was more like what we have come to expect from Phillips 66: $3.12 in quarterly EPS and a 12.5% dividend boost.
Going forward, Phillips 66 has the growth projects to continue to grow the dividend and deliver excellent total returns.
Meantime, eliminating the IDRs and GP interest at its MLP will grow PSX's LP ownership level in it to 75%.
https://seekingalpha.com/symbol/PSX/dividends/scorecard
Summary
As I suggested in my last Seeking Alpha article on Phillips 66, the company's awful Q1 was an aberration and a "one-off".
That turned out to be the case. Q2 was more like what we have come to expect from Phillips 66: $3.12 in quarterly EPS and a 12.5% dividend boost.
Going forward, Phillips 66 has the growth projects to continue to grow the dividend and deliver excellent total returns.
Meantime, eliminating the IDRs and GP interest at its MLP will grow PSX's LP ownership level in it to 75%.
https://seekingalpha.com/symbol/PSX/dividends/scorecard
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Phillips 66 NYSE: PSX p. naftowy
Phillips 66 Refinery Change Highlights Oil's Woes
Oil refiner Phillips 66 (NYSE: PSX) announced Wednesday that it will convert its San Francisco-area crude oil refinery to produce renewable diesel fuel. Like biodiesel, renewable diesel fuel is made from vegetable oils and animals, most of which are waste products.
Unlike biodiesel, which is made by a process called transesterification that adds oxygen to the fuel, renewable diesel is produced in the same way as petroleum-based diesel. The company says it will construct pre-treatment units and repurpose its existing hydrocracking units to produce renewable diesel fuels. The Wall Street Journal reported that the conversion project is expected to require about $800 million in capital investment.
Phillips 66 plans to produce 800 million gallons (about 19 million barrels) of renewable fuels annually at the plant once it begins operating in 2024. The company will use its existing logistics systems (pipelines and tanker dock) to bring in the oils and fats it will process.
The company also announced plans to shut down its refinery in central California in 2023. The two refineries combine to process about 120,000 barrels of crude oil a day. The Los Angeles refinery (139,000 barrels per day) will remain in operation.
In the U.S., demand for refined petroleum products like gasoline, diesel fuel, and jet fuel is down by more than 100% year over year. Demand for jet fuel last week was slightly less than half the demand for the same week in 2019. The COVID-19 pandemic gets the blame for that.
At the same time, projections for how long it will take the airline industry to recover to pre-pandemic levels range anywhere from two to five years. Demand for gasoline dropped by more than 10% year over year last week and distillate fuel oil (diesel fuel) demand was also down by 10%.
Demand for diesel will be further constrained as electric and hydrogen/electric semis enter the market over the next two or three years.
And it makes sense that California refineries are the first to go. The state’s tight emissions regulations will make it more difficult to earn a profit in the future. Phillips 66 told the WSJ that the San Francisco-area refinery is not currently making money.
Earlier this month, refiner Marathon Petroleum Corp. (NYSE: MPC) announced the “indefinite idling” of two refineries. The Gallup, New Mexico, plant will be permanently closed and the Martinez, California, (near San Francisco) plant may be “strategically repositioned” as a renewable diesel facility. Marathon expects to complete the conversion of its Dickinson, North Dakota, oil refinery to a renewable diesel plant by late this year.
The company’s stock traded up about 0.2% Wednesday afternoon at $64.61 in a 52-week range of $40.04 to $119.92. The price target on the stock is $82.28 and Phillips 66 pays a dividend of $3.60 annually for a yield of 5.62%
https://247wallst.com/energy-business/2 ... oils-woes/
Oil refiner Phillips 66 (NYSE: PSX) announced Wednesday that it will convert its San Francisco-area crude oil refinery to produce renewable diesel fuel. Like biodiesel, renewable diesel fuel is made from vegetable oils and animals, most of which are waste products.
Unlike biodiesel, which is made by a process called transesterification that adds oxygen to the fuel, renewable diesel is produced in the same way as petroleum-based diesel. The company says it will construct pre-treatment units and repurpose its existing hydrocracking units to produce renewable diesel fuels. The Wall Street Journal reported that the conversion project is expected to require about $800 million in capital investment.
Phillips 66 plans to produce 800 million gallons (about 19 million barrels) of renewable fuels annually at the plant once it begins operating in 2024. The company will use its existing logistics systems (pipelines and tanker dock) to bring in the oils and fats it will process.
The company also announced plans to shut down its refinery in central California in 2023. The two refineries combine to process about 120,000 barrels of crude oil a day. The Los Angeles refinery (139,000 barrels per day) will remain in operation.
In the U.S., demand for refined petroleum products like gasoline, diesel fuel, and jet fuel is down by more than 100% year over year. Demand for jet fuel last week was slightly less than half the demand for the same week in 2019. The COVID-19 pandemic gets the blame for that.
At the same time, projections for how long it will take the airline industry to recover to pre-pandemic levels range anywhere from two to five years. Demand for gasoline dropped by more than 10% year over year last week and distillate fuel oil (diesel fuel) demand was also down by 10%.
Demand for diesel will be further constrained as electric and hydrogen/electric semis enter the market over the next two or three years.
And it makes sense that California refineries are the first to go. The state’s tight emissions regulations will make it more difficult to earn a profit in the future. Phillips 66 told the WSJ that the San Francisco-area refinery is not currently making money.
Earlier this month, refiner Marathon Petroleum Corp. (NYSE: MPC) announced the “indefinite idling” of two refineries. The Gallup, New Mexico, plant will be permanently closed and the Martinez, California, (near San Francisco) plant may be “strategically repositioned” as a renewable diesel facility. Marathon expects to complete the conversion of its Dickinson, North Dakota, oil refinery to a renewable diesel plant by late this year.
The company’s stock traded up about 0.2% Wednesday afternoon at $64.61 in a 52-week range of $40.04 to $119.92. The price target on the stock is $82.28 and Phillips 66 pays a dividend of $3.60 annually for a yield of 5.62%
https://247wallst.com/energy-business/2 ... oils-woes/
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Phillips 66 NYSE: PSX p. naftowy
Phillips 66 to acquire stake in NOVONIX as demand for EV battery materials rises
(Reuters) - Phillips 66 (NYSE:PSX) will acquire a 16% stake in lithium-ion battery material supplier NOVONIX Limited for $150 million, the U.S. refiner said on Monday, as demand for electric-vehicle battery materials rises.
Phillips 66 develops carbon anodes and other materials for lithium-ion batteries using by-products from its oil-refining business.
Earlier this year, the company forged a technology partnership with Faradion to develop anode materials for sodium-ion batteries, which are also used in electric vehicles. (https://
U.S. Democrats have been advocating for a majority of cars manufactured in the country to be electric by 2030 and every car on U.S. roads to be electric by 2040.
Phillips 66 makes specialty coke, a key precursor in the production of batteries that power electric vehicles, personal electronics, medical devices and energy storage units.
NOVONIX produces synthetic graphite used to processes specialty coke to make anode material for these batteries.
The company's anode materials business is based in Chattanooga, Tennessee, where it is increasing capacity to produce 10,000 metric tons per year of synthetic graphite by 2023. The investment by Phillips 66 will support a capacity expansion of an additional 30,000 metric tonnes per year, which is expected to be completed by 2025.
https://www.investing.com/news/stock-ma ... es-2584443
(Reuters) - Phillips 66 (NYSE:PSX) will acquire a 16% stake in lithium-ion battery material supplier NOVONIX Limited for $150 million, the U.S. refiner said on Monday, as demand for electric-vehicle battery materials rises.
Phillips 66 develops carbon anodes and other materials for lithium-ion batteries using by-products from its oil-refining business.
Earlier this year, the company forged a technology partnership with Faradion to develop anode materials for sodium-ion batteries, which are also used in electric vehicles. (https://
U.S. Democrats have been advocating for a majority of cars manufactured in the country to be electric by 2030 and every car on U.S. roads to be electric by 2040.
Phillips 66 makes specialty coke, a key precursor in the production of batteries that power electric vehicles, personal electronics, medical devices and energy storage units.
NOVONIX produces synthetic graphite used to processes specialty coke to make anode material for these batteries.
The company's anode materials business is based in Chattanooga, Tennessee, where it is increasing capacity to produce 10,000 metric tons per year of synthetic graphite by 2023. The investment by Phillips 66 will support a capacity expansion of an additional 30,000 metric tonnes per year, which is expected to be completed by 2025.
https://www.investing.com/news/stock-ma ... es-2584443
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Phillips 66 NYSE: PSX p. naftowy
Phillips 66 hikes dividend by 2.2 percent. $PSX hiked by double digits every year through 2019 but skipped its dividend hike last year.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Phillips 66 NYSE: PSX p. naftowy
Phillips 66 to buy remaining stake in partnership for $3.4 billion
(Reuters) -Phillips 66 said on Wednesday it will buy the remaining units of Phillips 66 Partners (NYSE:PSXP) it does not already own for $3.4 billion, as the refiner aims to simplify its governance and corporate structure.
Phillips 66 (NYSE:PSX) Partners was formed by the refiner to own, operate, develop and acquire primarily fee-based crude oil, refined petroleum products and natural gas liquids pipelines, terminals and other midstream assets.
"We believe this acquisition will allow both PSX shareholders and PSXP unitholders to participate in the value creation of the combined entities, supported by the strong financial position of Phillips 66," Chief Executive Officer Greg Garland said in a statement.
The all-stock deal, expected to close in the first quarter of 2022, will offer each outstanding Partnership common unitholder 0.50 shares of PSX common stock for each PSXP common unit.
The oil and gas industry has financed billions of dollar in pipeline and storage products under Master Limited Partnerships (MLPs) since former President Ronald Reagan signed legislation in 1986 allowing them as a way to spur energy investment.
However, several pipeline companies, largely oil and natural gas pipeline firms, have restructured in recent years after U.S. regulators said they will no longer be allowed to recover an income tax allowance as part of fees they charge to shippers under a "cost-of-service" rate structure.
"The Phillips 66 Complex has been frustrated with the midstream valuation and acknowledged the environment has shifted dramatically since the MLP was first conceived," Spiro Dounis, analyst at Credit Suisse (SIX:CSGN), said in a note.
The Alerian MLP Index, a gauge of energy infrastructure MLPs, is currently valued at nearly $200 billion.
The U.S. refining and midstream industries have consolidated in recent years, a process which accelerated after the coronavirus pandemic drastically reduced demand for transportation fuels.
"This roll-up suggests Phillips 66 may have not seen Phillips 66 Partners as a useful vehicle for industry consolidation, particularly given this likely would have required capital raises," Jason Gableman, analyst at Cowen, said in a note.
(Reuters) -Phillips 66 said on Wednesday it will buy the remaining units of Phillips 66 Partners (NYSE:PSXP) it does not already own for $3.4 billion, as the refiner aims to simplify its governance and corporate structure.
Phillips 66 (NYSE:PSX) Partners was formed by the refiner to own, operate, develop and acquire primarily fee-based crude oil, refined petroleum products and natural gas liquids pipelines, terminals and other midstream assets.
"We believe this acquisition will allow both PSX shareholders and PSXP unitholders to participate in the value creation of the combined entities, supported by the strong financial position of Phillips 66," Chief Executive Officer Greg Garland said in a statement.
The all-stock deal, expected to close in the first quarter of 2022, will offer each outstanding Partnership common unitholder 0.50 shares of PSX common stock for each PSXP common unit.
The oil and gas industry has financed billions of dollar in pipeline and storage products under Master Limited Partnerships (MLPs) since former President Ronald Reagan signed legislation in 1986 allowing them as a way to spur energy investment.
However, several pipeline companies, largely oil and natural gas pipeline firms, have restructured in recent years after U.S. regulators said they will no longer be allowed to recover an income tax allowance as part of fees they charge to shippers under a "cost-of-service" rate structure.
"The Phillips 66 Complex has been frustrated with the midstream valuation and acknowledged the environment has shifted dramatically since the MLP was first conceived," Spiro Dounis, analyst at Credit Suisse (SIX:CSGN), said in a note.
The Alerian MLP Index, a gauge of energy infrastructure MLPs, is currently valued at nearly $200 billion.
The U.S. refining and midstream industries have consolidated in recent years, a process which accelerated after the coronavirus pandemic drastically reduced demand for transportation fuels.
"This roll-up suggests Phillips 66 may have not seen Phillips 66 Partners as a useful vehicle for industry consolidation, particularly given this likely would have required capital raises," Jason Gableman, analyst at Cowen, said in a note.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Phillips 66 NYSE: PSX p. naftowy
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Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Phillips 66 NYSE: PSX p. naftowy
(Reuters) - Phillips 66 (NYSE:PSX) reported a 46% fall in second-quarter profit on Wednesday, the latest U.S. refiner to signal the hit from a decline in margins from last year's sky-high levels when Russia's invasion of Ukraine squeezed fuel supplies.
The company's shares fell 1.2% to $110.80 in premarket trade.
Refiners' margins were beefed up last year as a rebound in fuel demand came amid a supply crunch caused by pandemic-era refinery closings and global oil market disruptions from Russia's invasion of Ukraine.
Crude prices and supplies have since normalized.
Phillips said realized margins fell to $15.32 per barrel in the second quarter, from $28.62 a year earlier.
Despite the fall in margins, fuel demand remains resilient. The April-June quarter is traditionally one of the year's biggest period for demand as companies build gasoline and jet fuel output for the summer vacation season.
Phillips 66's crude utilization rate was 93% in the second quarter, higher than 90% a year earlier, while total processed input was unchanged year-over-year at 1.9 million barrels per day (bpd).
On an adjusted basis, the Houston-based refiner reported earnings of $3.87 per share for the three months ended June 30, beating average analysts estimate of $3.56, according to Refinitiv data.
Rivals Valero Energy Corp (NYSE:VLO) and Marathon Petroleum (NYSE:MPC) reported steep declines in quarterly profits on pressured margins, but managed to beat market expectations.
Phillips 66's second-quarter net income fell to $1.7 billion, or $3.72 per share, from $3.2 billion, or $6.53 per share, in the year-ago quarter.
The company's shares fell 1.2% to $110.80 in premarket trade.
Refiners' margins were beefed up last year as a rebound in fuel demand came amid a supply crunch caused by pandemic-era refinery closings and global oil market disruptions from Russia's invasion of Ukraine.
Crude prices and supplies have since normalized.
Phillips said realized margins fell to $15.32 per barrel in the second quarter, from $28.62 a year earlier.
Despite the fall in margins, fuel demand remains resilient. The April-June quarter is traditionally one of the year's biggest period for demand as companies build gasoline and jet fuel output for the summer vacation season.
Phillips 66's crude utilization rate was 93% in the second quarter, higher than 90% a year earlier, while total processed input was unchanged year-over-year at 1.9 million barrels per day (bpd).
On an adjusted basis, the Houston-based refiner reported earnings of $3.87 per share for the three months ended June 30, beating average analysts estimate of $3.56, according to Refinitiv data.
Rivals Valero Energy Corp (NYSE:VLO) and Marathon Petroleum (NYSE:MPC) reported steep declines in quarterly profits on pressured margins, but managed to beat market expectations.
Phillips 66's second-quarter net income fell to $1.7 billion, or $3.72 per share, from $3.2 billion, or $6.53 per share, in the year-ago quarter.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Phillips 66 NYSE: PSX p. naftowy
[translator]
W znaczącym rozwoju we wtorek, Phillips 66 (NYSE:PSX), przedsiębiorstwo niebędące własnością funduszy hedgingowych, znajduje się pod znacznym wpływem dużych instytucji. Na przykład Vanguard Group, Inc. posiada znaczące 9,3% akcji firmy. Wielkość tej inwestycji, w połączeniu z możliwościami badawczymi takich instytucji, sugeruje poziom zaufania do przyszłych perspektyw firmy.
Jednak taka koncentracja własności stwarza również potencjalne ryzyko. Decyzja tych inwestorów instytucjonalnych o sprzedaży swoich udziałów może doprowadzić do znacznego spadku ceny akcji Phillips 66.
Drugi co do wielkości akcjonariusz spółki, posiadający 8,3% akcji, również odgrywa kluczową rolę w kształtowaniu trajektorii spółki. Tożsamość tego interesariusza nie została jednak ujawniona w dostępnym kontekście.
Inne czynniki, które mogą znacząco wpłynąć na wyniki firmy, obejmują perspektywy analityków, uwzględnienie w głównych indeksach, historię zysków i preferencje członków zarządu. Elementy te przyczyniają się do ogólnego postrzegania Phillips 66 na rynku i mogą wpływać na jego wyniki giełdowe.
Chociaż fundusze hedgingowe nie posiadają udziałów w Phillips 66, znaczny udział instytucji takich jak The Vanguard Group podkreśla znaczenie inwestorów instytucjonalnych w kształtowaniu krajobrazu finansowego spółek notowanych na giełdzie. W związku z tym monitorowanie tych udziałów instytucjonalnych pozostaje kluczowe dla zrozumienia dynamiki rynku i potencjalnych przyszłych wyników firm takich jak Phillips 66.
W znaczącym rozwoju we wtorek, Phillips 66 (NYSE:PSX), przedsiębiorstwo niebędące własnością funduszy hedgingowych, znajduje się pod znacznym wpływem dużych instytucji. Na przykład Vanguard Group, Inc. posiada znaczące 9,3% akcji firmy. Wielkość tej inwestycji, w połączeniu z możliwościami badawczymi takich instytucji, sugeruje poziom zaufania do przyszłych perspektyw firmy.
Jednak taka koncentracja własności stwarza również potencjalne ryzyko. Decyzja tych inwestorów instytucjonalnych o sprzedaży swoich udziałów może doprowadzić do znacznego spadku ceny akcji Phillips 66.
Drugi co do wielkości akcjonariusz spółki, posiadający 8,3% akcji, również odgrywa kluczową rolę w kształtowaniu trajektorii spółki. Tożsamość tego interesariusza nie została jednak ujawniona w dostępnym kontekście.
Inne czynniki, które mogą znacząco wpłynąć na wyniki firmy, obejmują perspektywy analityków, uwzględnienie w głównych indeksach, historię zysków i preferencje członków zarządu. Elementy te przyczyniają się do ogólnego postrzegania Phillips 66 na rynku i mogą wpływać na jego wyniki giełdowe.
Chociaż fundusze hedgingowe nie posiadają udziałów w Phillips 66, znaczny udział instytucji takich jak The Vanguard Group podkreśla znaczenie inwestorów instytucjonalnych w kształtowaniu krajobrazu finansowego spółek notowanych na giełdzie. W związku z tym monitorowanie tych udziałów instytucjonalnych pozostaje kluczowe dla zrozumienia dynamiki rynku i potencjalnych przyszłych wyników firm takich jak Phillips 66.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
REKLAMA
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