Phillips 66 (PSX) Stock

The oil company was accused of illegally releasing almost 800,000 gallons of polluted wastewater into the sewer system in Los Angeles County.

U.S. stocks were mostly up as trading came to a close, with the Nasdaq Composite increasing by over 150 points on Tuesday.

PSX's earnings for the third quarter improved due to cost-cutting measures, although this was somewhat balanced out by reduced earnings from the refining sector because of falling profit margins.

Phillips 66 (PSX) finished the last trading session at $128.49, which represents a decrease of 0.49% compared to the previous day's closing price.

Phillips 66 provides a 3.4% dividend yield and has the potential for EBITDA growth, making it a good choice for those looking for passive income. The company is effectively managed and has a varied downstream portfolio, concentrating on cutting costs and selling assets to enhance returns on capital. Even with low refining margins, PSX has steadily increased its dividend since 2013, with a total rise of 238%.

The decrease in oil prices last week has given us the chance to purchase high-quality energy dividends at a lower cost. Soon, we will take advantage of one that has a "hidden" yield of 10.3%.

Phillips 66 (PSX) lacks the right mix of two important factors that could lead to a strong earnings report in the near future. Be ready for the main expectations.

Phillips 66 (PSX) finished the last trading session at $132.60, which represents a decrease of 0.56% compared to the previous day's closing price.

Phillips 66 announced on Wednesday that it intends to cease operations at its refinery near Los Angeles in the last quarter of 2025. The company will collaborate with the state of California to ensure fuel supply and meet the needs of consumers.