Piper Sandler Stays Neutral on Phillips 66 (PSX) After Permian Basin Investor Trip

Piper Sandler accrued the firm’s terms people connected Phillips 66 (NYSE:PSX) to $171 from $170 connected December 5, and maintained a Neutral standing connected the stock. The steadfast highlighted the company’s investors’ travel to the Permian Basin, successful which it showcased the maturation and imaginable of its Midstream business. The conception is usually overlooked by investors, contempt contributing 40% of the expected 2025 EBITDA and $500 cardinal successful projected maturation implicit the adjacent 2 years.

In the 3rd 4th of 2025, Phillips 66 (NYSE:PSX)’s Midstream results decreased owed to little margins. However, the institution expects to execute $4.5 cardinal successful Midstream EBITDA by 2027. The company’s currency presumption and coagulated equilibrium expanse marque it basal retired among its peers. With an operating currency travel of $1.2 cardinal successful the caller quarter, it has been a beardown dividend contender. Moreover, it had astir $2 cardinal disposable successful currency and currency equivalents astatine the extremity of the quarter.

Phillips 66 (NYSE:PSX) is an American multinational lipid refining institution that besides operates successful the US and Europe.

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