Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through five segments: Midstream, Chemicals, Refining, Marketing and Specialties (M&S), and Renewable Fuels. The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; gathers, processes, transports, and markets natural gas; transports, fractionates, markets, and exports natural gas liquids. The Chemicals segment produces and markets ethylene and other olefin products; aromatics and styrenics products, such as benzene, cyclohexane, styrene, and polystyrene; and various specialty chemical products, including organosulfur chemicals, solvents, catalysts, and chemicals used in drilling and mining. The Refining segment refines crude oil and other feedstocks into petroleum products, such as gasolines, distillates, and aviation fuels. The M&S segment purchases for resale and markets refined petroleum products, including gasolines, distillates, and aviation fuels. This segment also manufactures and markets specialty products, such as automotive, commercial, industrial, and specialty lubricants, as well as base oils. The Renewable Fuels segment processes renewable feedstocks into renewable products. This segment also procures renewable feedstocks, manage certain regulatory credits, and market renewable diesel, renewable jet fuel and other renewable fuels. The company markets its products through Phillips 66, Conoco and 76, JET, Kendall, Red Line, and other private label brands. Phillips 66 was founded in 1875 and is headquartered in Houston, Texas.
Midstream Momentum | Phillips 66's strategic shift towards midstream operations promises enhanced stability and growth, with projected EBITDA rising to $4 billion post-EPIC integration. |
Refining Renaissance | Discover how Phillips 66 aims to revitalize its refining segment through cost-cutting measures, targeting a reduction in controllable costs from $6.98/bbl to $5.50/bbl by 2027. |
Financial Forecast | Analysts project Phillips 66's mid-cycle EBITDA to surge from $10 billion in 2022 to $15 billion by 2027, with EPS expected to double between 2025 and 2027. |
Valuation Verdict | With an average price target of $122, Phillips 66 trades below fair value, offering potential upside amid ongoing transformation and strategic initiatives. |