RE:RE:RE:RE:Phillips 66 in talks for non-core assets sale: CEO with Elliott pushing P66 to sell their refineries, i can see this as a buyer's market deal with an accretive price or else the buyer would not buy it
cashtango00 wrote: On the last conference call, this was brought up, and management said they are more likely not to be buyers of more refinery assets, and to focus on cash returns to shareholders after hitting the 4b debt target. The market is already beyond frusterated with management's inability to to get to that 4b target that would increase shareholder returns. Their inability to give solid guidance is the main reason the stock is such a laggard. I would say if they pivot, yet again, it would not be well received by the market.