Phillips 66: Earnings Conditions Look To Be Structural, Rather Than Cyclical Phillips 66 is rated a...
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Phillips 66: Earnings Conditions Look To Be Structural, Rather Than Cyclical Phillips 66 is rated a Buy, driven by a structural global refining capacity gap supporting elevated crack spreads and earnings. I project $27.3 billion in after-tax earnings for PSX over the next four years, with refining as the primary earnings engine. PSX is on track to meet debt-reduction targets ahead of schedule, enabling significant capital returns via buybacks and dividends.
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