Phillips 66 (NYSE:PSX) Q1 2024 Earnings Call Transcript April 26, 2024 Phillips 66 misses on earnings expectations. Reported EPS is $1.9 EPS, expectations were $2.05. Phillips 66 isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here). Operator: Welcome to the First Quarter […]
Phillips 66 (PSX) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Traders are rushing to fill up storage tanks along the U.S. East Coast with distillate fuels, like diesel and heating oil, data from storage broker The Tank Tiger showed on Monday, a sign of deepening oversupply that is weighing on refiners' profits. Largely warmer-than-expected winter weather in U.S. Northeast and Europe has cut distillates demand and hit refiners' margins across the globe in recent months, a factor that drove softer first-quarter earnings by oil majors and top independent refiners. Struggling to find outlets for their excess distillates, traders are scrambling to park it in storage tanks in New York Harbor, The Tank Tiger Chief Operating Officer Steven Barsamian said.