Activist Elliott Ratchets Up Pressure on Phillips 66 With Over $2.5 Billion Stake
The activist investor plans to push the oil refiner to consider selling or spinning off its energy-transportation business.
Elliott builds over $2.5 billion stake in Phillips 66, seeks operational changes, source says
Elliott plans to push Phillips 66 to sell or spin off its midstream business, the person said. In March last year, Elliott ...
Elliott discloses over $2.5B position in Phillips 66, sends letter to board
Elliott Investment Management L.P., which manages funds that together have an investment of more than $2.5B in Phillips 66 (PSX), sent a letter ...
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Elliott Builds More Than $2.5 Billion Stake in Phillips 66
Elliott Investment Management has built a more than $2.5 billion stake in oil refiner Phillips 66, and plans to push the company to sell or spin off its midstream business, Bloomberg reports.
Here’s Where Phillips 66 and Elliott Don’t See Eye to Eye
Activist Elliott Investment Management had a clear roadmap for refining giant Phillips 66 when it took its first $1 billion stake in the company in late 2023. The company, though, has ...
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Elliott builds $2.5 billion stake in Phillips 66, pushes for midstream business sale
Phillips 66 shares rose 3.3% in late morning trade. Last year, Elliott disclosed a $1 billion stake in Phillips 66, following which the company laid out a performance improvement plan to ...
Phillips 66 price target raised to $132 from $128 at TD Cowen
TD Cowen analyst Jason Gabelman raised the firm’s price target on Phillips 66 (PSX) to $132 from $128 and keeps a Buy rating on the shares. The ...