Warren Buffett has been picking away at this. It is very difficult to build a refinery. There is a limited number of competitors, so they are well situated. The drawback is that you are beholden to crack spreads, basically the value of all the different components of a barrel of oil after it has been refined. In the past couple of years, it has been a very, very good business, but it is a cyclical business. The ways the composition of crude oil is coming to refineries is changing. He would prefer going to where the greatest value is, which is going to be the crude producers.
Phillips 66 is a American stock, trading under the symbol PSX-N on the New York Stock Exchange (PSX). It is usually referred to as NYSE:PSX or PSX-N
In the last year, there was no coverage of Phillips 66 published on Stockchase.
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0 stock analysts on Stockchase covered Phillips 66 In the last year. It is a trending stock that is worth watching.
On 2025-04-01, Phillips 66 (PSX-N) stock closed at a price of $124.35.
There remains a supply-demand imblance in refined oil products. PSX trades at a very low 6x PE.