Why 2017 Was a Year to Remember for Phillips 66
After a somewhat lackluster 2016, this has been a much better year for Phillips 66 (NYSE: PSX). Thanks to an improvement in market conditions in the company's core refining business and the impact from recently completed midstream expansion projects, the energy logistics and manufacturing company's earnings have improved, which gave it more cash to return to shareholders. Those two catalysts have helped fuel a 17.5% total return for investors through early December.
Here's a look back at Phillips 66's year and how it sets the stage for potentially higher returns in the coming year.
Image source: Getty Images.
Source: Fool.com
Phillips 66 Stock
€115.44
-0.210%
The stock is an absolute favorite of our community with 27 Buy predictions and no Sell predictions.
As a result the target price of 149 € shows a positive potential of 29.07% compared to the current price of 115.44 € for Phillips 66.
