Summary
- Quarterly revenues totaled $29.843 billion, down 1% from the year-ago quarter and down 2.5% sequentially. Phillips 66 posted fourth-quarter 2018 earnings of an impressive $4.87 per share beating expectations.
- Free cash flow for 2018 was $4.934 billion with a record $3.145 billion in the 4Q.
- PSX seems reasonably priced now, and I would suggest adding only at or below $90.
Source: The Street/Bloomberg
Investment Thesis
Many investors are considering the Houston, Texas-based Phillips 66 (PSX) as the most iconic US stock and it ought to be owned as a long-term investment in any savvy investor's portfolio.
Phillips 66 is one of the world’s largest downstream oil corporations.
In term of revenues versus net income, Phillips 66 is excellent if we compare to Valero (VLO) or Marathon Petroleum (MPC) in this "refiners" segment. For the ones who are interested, I suggest reading my recent article about Valero Energy about its current earnings.
