Phillips 66 Stock News

Phillips 66's (PSX) Humber refinery will be the first to significantly produce SAF, which can reduce more than 80% of carbon emissions compared with fossil jet fuels.

LONDON--(BUSINESS WIRE)--British Airways will become first airline in world to use sustainable aviation fuel produced in UK after signing agreement with Phillips 66 Limited.

Widening trade deficit and expectation of higher interest rates trigger broad sell-off in stock market

UMB Bank N A MO lessened its position in Phillips 66 (NYSE:PSX) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,442 shares of the oil and gas companys stock after selling 771 shares during the quarter. UMB Bank N A MOs []

KARACHI: The Pakistan stocks witnessed a bloodbath on Thursday, as the market already initiated the pricing in expectations of beyond 100bps increase in the upcoming monetary policy announcement this month. Cutoffs in the recent T-Bills auction to increase to 10.79 per cent for three-month paper, 11.50 per cent for six-month and 11.51 per cent for [] The post Bloodbath at PSX, as investors foresee massive interest rate hike appeared first on BOL News .

Fifth Third Bancorp reduced its holdings in shares of Phillips 66 (NYSE:PSX) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 58,997 shares of the oil and gas companys stock after selling 1,300 shares during the quarter. Fifth Third Bancorps []

Pakistan stocks got a hammering on Thursday with the benchmark KSE-100 index losing over 2,100 points or nearly 4.7% during the trading session as the market reacted sharply to the widening trade deficit data and expectations of a hike in interest rate in coming months. This is the worst fall, in a single day, for the PSX''s benchmark index since the pandemic-driven sell-off witnessed in March 2020. It is also the biggest decrease, in terms of percentage, for the KSE-100 this calendar year, and surpasses the fall on March 29, 2021 when the index fell nearly 2.4%. Just a day ago, the KSE-100 saw an increase of nearly 300 points. Optimism returns at bourse, KSE-100 up 297 points However, at noon on Thursday, the index was hovering around the 43,900-point level -- a fall of 3.2% -- and heading for one of its worst days of the calendar year. It lost further ground in the next hour or so, falling to the 43,500-point level before hitting 43,100 near the end of the session. The sell-off comes after Pakistan posted a massive trade deficit in November, denting economic sentiment.

Pakistan stocks got a hammering on Thursday with the benchmark KSE-100 index losing over 2,200 points or nearly 4.9% during the trading session as the market reacted sharply to the widening trade deficit data. At noon, the index was hovering around the 43,900-point level -- a fall of 3.2% -- and heading for one of its worst days of the calendar year. However, it lost further ground in the next hour or so, falling further to the 43,500-point level before hitting 43,100 near the end of the session. The sell-off comes after Pakistan posted a massive trade deficit in November, denting economic sentiment. Pakistan Market Treasury Bills'' (MTBs) Auction Result conducted also revealed weighted average yield of over 11% for six-, and over 10.3% for three-month papers. Following the development, investors have resorted to a dump-and-sell approach. Shares have fallen across-the-board. This follows inflation reading that touched a 21-month high in November. This has raised interest-rate hike expectations, multiple analysts told Business Recorder , and could put the central bank on the path of even more aggressive monetary tightening. "The exceptionally high import bill is a massive concern," said one analyst. "This has raised current account deficit expectations, and is bound to put more pressure on the rupee." The PSX saw all-share volume of around 250 million shares by 1:00pm, with index-heavy cement, construction, and auto sectors bearing the brunt of the sell-off.

Fluent Financial LLC grew its position in Phillips 66 (NYSE:PSX) by 6.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,016 shares of the oil and gas companys stock after acquiring an additional 2,714 shares during the quarter. Phillips 66 comprises []

Nisa Investment Advisors LLC lowered its stake in shares of Phillips 66 (NYSE:PSX) by 1.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 196,968 shares of the oil and gas companys stock after selling 2,000 shares during the quarter. Nisa Investment []

NOW that the staff-level agreement has been finalised between Islamabad and the IMF to restart the suspended $6bn funding, the government appears to be looking at different options to reduce the increasing debt stock in the energy sector as agreed with the international lenders. One such scheme, as outlined by adviser on finance Shaukat Tarin in recent weeks, wants the energy heavyweights listed on the PSX, in which the government has major stakes, to start announcing dividends for their shareholders. The payout the government expects to receive from these companies as a shareholder would automatically get adjusted against the debts it owes to them but that it cannot pay off because of the cash crunch. By Mr Tarins own estimation, the plan will help reduce the existing stock of circular debt by Rs300bn-Rs400bn. Prima facie, the proposed plan looks doable and must supplement the efforts to curtail the stock of the power sector debt. The debt has already spiked to nearly Rs2.5tr and could jeopardise the power sectors viability and threaten Pakistans energy security.

Brokerages expect Phillips 66 (NYSE:PSX) to report earnings per share of $1.74 for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Phillips 66s earnings, with the lowest EPS estimate coming in at $1.56 and the highest estimate coming in at $2.00. Phillips 66 reported earnings per share of ($1.16) during the []

FRG, SU, and PSX made it to the Zacks Rank #1 (Strong Buy) growth stocks list on November 30, 2021.

Annex Advisory Services LLC lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 11.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,515 shares of the oil and gas company’s stock after purchasing an additional 2,438 shares during the quarter. […]

Demars Financial Group LLC purchased a new position in shares of Phillips 66 (NYSE:PSX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,504 shares of the oil and gas companys stock, valued at approximately $455,000. A number of other []