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Is Phillips 66 Stock a Buy?

TheMotleyFool

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Leading oil and gas refining and marketing company Phillips 66 (NYSE: PSX) has seen its shares plummet 58% year to date (YTD). Lower demand for refined products is pressuring the company's business, resulting in second- and third-quarter losses this year.

Investors may be eyeing the company's 7.7% dividend yield and reduced share price as a good way to play a recovery in the downstream sector. Let's break down the company's business to determine if things are as bad as they seem, and ultimately, if Phillips 66, trading near a five-year low, is worth buying now.

Image source: Getty Images.

Source Fool.com

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