Phillips 66 - PSX STOCK NEWS

Phillips 66 collaborates with KC Parks and Rec to revamp basketball courts in Parade Park community, contributing $100,000. The project aims to provide safer sports access for youth athletes and community members, aligning with the company's commitment to local communities and accessibility to sports. The initiative is part of the larger effort to revitalize the area, including the announcement of an extensive housing redevelopment plan by Mayor Lucas.

Phillips 66 (PSX) achieves a major milestone in converting the San Francisco refinery into the Rodeo Renewable Energy Complex, producing 30,000 barrels per day of renewable diesel. The project aims to increase production to 800 million gallons per year by Q2, 2022, positioning Phillips 66 as a leader in renewable fuels.

Phillips 66 (PSX) will host a webcast to discuss their first-quarter 2024 financial results. The event will take place on April 26, 2024, at noon ET. Investors can access the webcast on the Phillips 66 Investors site. A replay and transcript will be available post-event.

Phillips 66 executives Richard Harbison and Jeff Dietert will participate in a fireside chat at the BofA Securities Refining Conference 2024 to discuss the company's strategic priorities for delivering shareholder value and disciplined capital allocation.

Phillips 66 (PSX) appoints Robert W. Pease to its board following discussions with Elliott Investment Management. The company aims to enhance shareholder value and strategic priorities with the addition of a new director.

Phillips 66 (PSX) announces a quarterly dividend of $1.05 per share on common stock, payable on March 1, 2024, to shareholders of record as of Feb. 20, 2024.

Phillips 66 (NYSE: PSX) announced fourth-quarter earnings of $1.3 billion or $2.86 per share; adjusted earnings of $1.4 billion or $3.09 per share. The company provided an update on progress towards strategic priorities and distributed over 50% of its operating cash flow to shareholders through dividends and share repurchases in 2023. Midstream pre-tax income was $756 million, up from $712 million in the third quarter, and the Chemicals segment reported $106 million in pre-tax income, in line with the previous quarter. Refining pre-tax income was $814 million, down from $1.7 billion in the third quarter. Marketing and Specialties reported pre-tax income of $432 million, down from $633 million in the previous quarter. Corporate and Other pre-tax costs were $347 million, compared with $346 million in the third quarter. Phillips 66's financial position shows $2.2 billion in cash from operations in the fourth quarter of 2023, with $3.3 billion of cash and cash equivalents and $6.4 billion of committed capacity available under credit facilities.

Phillips 66 (NYSE: PSX) CEO and executives to participate in Goldman Sachs Energy, CleanTech & Utilities Conference to discuss strategic priorities and shareholder value

AM Best affirms Spirit Insurance Company (Spirit) and Radius Insurance Company (Radius) with A (Excellent) Financial Strength Rating and 'a' Long-Term Issuer Credit Ratings. The outlook for these ratings is stable. Spirit and Radius have very strong balance sheet strength, adequate operating performance, and neutral business profile. They are captive insurers for Phillips 66 [NYSE: PSX] and have favorable loss experience due to strong loss control program and limited catastrophe losses.