Phillips 66 Books $900MM in Hedging Losses as Prices Surge [Yahoo! Finance]
Phillips 66 (PSX)
Last phillips 66 earnings: 5/1 07:00 am
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Source: Yahoo! Finance
pre-tax mark-to-market losses as a result of the refiner taking a short position in derivatives contracts. "The sharp increase in commodity prices during the first quarter resulted in a net outflow of approximately $3 billion of cash collateral on derivative positions", the Houston, Texas-based company said in a stock filing. "To manage these impacts, the company drew on its committed and uncommitted lines of credit, issued and fully drew a new $2.25 billion 364-day term loan and upsized its accounts receivables securitization facility from $1.25 billion to $1.75 billion". The United States Energy Information Administration's (EIA) latest "Short-Term Energy Outlook", released March 10, forecast Brent crude prices would stay above $95 a barrel over the next two months, the highest levels since September 2023, due to the ongoing war in the Middle East. Brent prices could fall to $80 per barrel in the third quarter of 2026 and around $70 per barrel, the EIA said. "The primary r
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PSX
News
- Phillips 66 (PSX) had its price target raised by BMO Capital Markets from $175.00 to $195.00. They now have an "outperform" rating on the stock.MarketBeat
- Phillips 66 (PSX) had its price target raised by JPMorgan Chase & Co. from $161.00 to $188.00. They now have an "overweight" rating on the stock.MarketBeat
- Phillips 66 (PSX) had its price target raised by Piper Sandler from $168.00 to $177.00. They now have a "neutral" rating on the stock.MarketBeat
- Phillips 66 (PSX) had its price target raised by Barclays PLC from $158.00 to $177.00. They now have an "equal weight" rating on the stock.MarketBeat
- Phillips 66 Flags $900 Million Q1 Mark-to-Market Hit, $3 Billion Collateral Outflow [Yahoo! Finance]Yahoo! Finance
PSX
Earnings
- 2/4/26 - Beat
PSX
Sec Filings
- 4/6/26 - Form 8-K
- 4/3/26 - Form 4
- 4/3/26 - Form SCHEDULE
- PSX's page on the SEC website