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Phillips 66 has been lighting up our scanners, and the buyers came back for more yesterday.
Phillips 66 gained 2.7 percent Friday on news that the company would be raising its dividend by 25 percent, and do another $1 billion in share buybacks for the second quarter in a row.
The year is almost over, but "Mad Money" host Jim Cramer isn't heading for the bench. He’s in the game!
HOUSTON-- ConocoPhillips said Thursday that net income fell 30 percent in the third quarter as it sold assets and oil and natural gas prices fell. Houston- based ConocoPhillips made $1.8 billion, or $1.46 per share, compared with $2.6 billion, or $1.91 per share, a year earlier.
Phillips 66 has run into overhead resistance after a scorching run higher, but traders are betting that the rally will resume.
NEW YORK-- Shares of several oil refining companies fell Wednesday after Chevron Corp. said its third-quarter results will be substantially lower than its second-quarter earnings.
Oct 10- Shares of refining companies with exposure to the volatile California fuel market fell sharply on Wednesday as an immediate supply crisis eased, but extended refinery outages threatened to keep pressure on gasoline prices.
*Terms of the deal with Phillips 66 not disclosed* Terminal has 5 million barrels of storage capacity* It is located 80 miles east of New York Harbor.
NEW YORK, Oct 9- United Refining Inc has agreed to buy Phillips 66' s marine terminal and associated assets near New York Harbor, a deal that will add a five-million-barrel oil storage facility to the company's northeast assets, the two companies said on Tuesday.
*Howard Weil Raises HollyFrontier Corp price target to $39 from $34;. *Howard Weil Raises Marathon Petroleum Corp price target to $58 from. *Howard Weil Raises Phillips 66 price target to $50 from $39; rating.
Oct 9- United Refining Co:. *UNITED REFINING CO SAYS TERMS OF THE AGREEMENT WERE NOT. *United refining company affiliate to purchase phillips 66' s long island 5.
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LOS ANGELES, Oct 6- Gasoline prices in California hit record levels on Saturday, after an unprecedented surge in pump prices propelled by a perfect storm of factors that drove inventories in the region down to near-historic lows. On Saturday, a local NBC station showed one downtown Los Angeles gas station selling regular grade at $5.49 a gallon.
CALGARY, Alberta, Oct 5- Canadian cash crude prices weakened for the fourth straight session on Friday as production from the Alberta oil sands looked set to increase for next month.
SAN FRANCISCO/ LOS ANGELES, Oct 5- An unprecedented spike in California gasoline prices showed signs of easing on Friday, with some supply-stricken service stations preparing to reopen and retail rates poised to ease after topping $5 a gallon in many places.
Crude prices will continue to drop, but gas prices won’t because of tight refinery capacity, Strategic Energy Advisors Chairman Tom Petrie said Friday on CNBC.
By Braden Reddall and Nichola Groom. SAN FRANCISCO/ LOS ANGELES, Oct 5- Californians awoke on Friday to yet another unprecedented spike in the price of gasoline that brought the one-week increase in the Golden State to a whopping 36 cents a gallon. "It's insane," said Matt Hurd, 35, as he filled up at a San Francisco gas station near the Bay Bridge. "
SAN FRANCISCO, Oct 5- California gas prices rose 17 cents a gallon overnight due to supply disruptions at some refineries and seasonally low inventories, bringing the one-week increase in the Golden State to nearly 36 cents. The average retail price of gasoline was $4.486 on Friday morning, up from $4.315 on Thursday and $4.131 a week ago, according to AAA data.