Phillips 66 - PSX STOCK NEWS

Phillips 66 (NYSE: PSX) will host a webcast on April 30 at noon EDT to discuss its first-quarter 2021 financial results, released earlier that day. The event will also cover updates on the company's strategic initiatives. Investors can join the webcast via the Events and Presentations section of the Phillips 66 Investors site. A replay will be available two hours post-event, with a transcript to follow later. Phillips 66 operates in the energy sector with diverse operations in Midstream, Chemicals, Refining, and Marketing.

Phillips 66 (NYSE: PSX) will have CEO Greg Garland speak at two virtual investor conferences. The first is the Simmons Energy 21st Annual Energy Conference on March 22, 2021, at 2:30 p.m. EDT, followed by the Scotia Howard Weil Energy Conference on March 23, 2021, at 2 p.m. EDT. Garland's discussions will focus on value creation in the changing energy landscape and the company’s strategic initiatives, including capital allocation. Webcast access is available on the Phillips 66 Investors site, with replays and transcripts to follow.

Phillips 66 (NYSE: PSX) has released its inaugural Human Capital Management Report, showcasing its commitment to a high-performing organization as it navigates workforce challenges. The report features workforce metrics, insights into employee experience, and the company culture that supports approximately 14,300 employees. Chairman and CEO Greg Garland highlights the company's adaptability during the challenges of 2020, emphasizing innovation and collaboration. Topics covered include human capital management strategies, diversity efforts, and employee benefits.

Phillips 66 has launched its innovative e-Shield product line, specifically tailored for electric vehicles (EVs). This new range includes system fluids, greases, and coolants that enhance EV performance and protection. Utilizing advanced proprietary formulations, e-Shield extends driving range and improves thermal management. Proven technology used by major OEMs demonstrates e-Shield's superiority over competitors. This launch underscores Phillips 66's commitment to sustainability and the energy transition, as it also supports lithium-ion battery production.

Phillips 66 (NYSE: PSX) is donating $450,000 towards winter storm relief in Houston, allocating $250,000 to the Harris County Winter Storm Relief Fund and $200,000 to the Houston Food Bank. The Houston Harris County Winter Storm Relief Fund aids nonprofits focused on recovery efforts, while the Food Bank, which served over 104,000 households in January alone, will use the donation to provide 600,000 meals. This initiative supports community members impacted by both the recent storm and ongoing pandemic hardships.

Phillips 66 (NYSE: PSX) has named Mark Lashier as its new President and Chief Operating Officer, effective April 1. Lashier brings over 30 years of energy industry experience, previously serving as CEO of Chevron Phillips Chemical Company since 2017. His role will encompass operational execution across Phillips 66’s businesses, including Refining, Midstream, and Marketing & Specialties. Chairman Greg Garland emphasized Lashier's proven track record in driving growth and sustainable practices, allowing Garland to focus on strategic direction and stakeholder engagement.

Phillips 66 (NYSE: PSX) has partnered with Faradion to advance sodium-ion battery technology by developing innovative, cost-effective anode materials. This collaboration leverages Phillips 66's expertise in specialty carbon and Faradion's sodium-ion advancements, aiming to enhance performance while utilizing sustainable materials. Sodium-ion batteries present safer, more stable alternatives, avoiding costly materials like cobalt and lithium. This agreement underscores Phillips 66's commitment to energy innovation amidst a growing demand for sustainable technologies.

The board of directors of Phillips 66 (NYSE: PSX) has declared a quarterly dividend of 90 cents per share on its common stock. This dividend will be payable on March 1, 2021, to shareholders of record as of the close of business on February 22, 2021. Phillips 66 is a diversified energy manufacturing and logistics company with a robust portfolio in midstream, chemicals, refining, and marketing.

Phillips 66 (NYSE: PSX) reported a Q4 2020 loss of $539 million, a significant improvement from a $799 million loss in Q3 2020. Adjusted for special items, the loss was $507 million versus a $1 million loss in Q3. Notable highlights included a recovery in Midstream segment income to $223 million and record polyethylene sales through CPChem. However, Refining continued to perform poorly with a $1.1 billion pre-tax loss. The company maintains strong liquidity of $7.8 billion and emphasizes discipline in capital allocation while pursuing growth in renewable energy.