Why Phillips 66 Stock Was Selling Off Today
Shares of Phillips 66 (NYSE: PSX) had slumped as much as 5.5% by 3:30 p.m. EST on Friday. Weighing on the oil stock were its lackluster fourth-quarter results.
Phillips 66 posted an adjusted loss of $1.09 billion, or $1.16 per share, during the fourth quarter. That was a significant reversal from its year-ago fourth-quarter profit of $324 million and missed the analysts' consensus estimate by $0.16 per share.
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Source Fool.com
