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Phillips 66 Outlines Strategic Priorities

publication date: Feb 4, 2025
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Looking forward to its strategic priorities through 2027, Phillips 66 plans to return greater than 50% of operating cash flow to shareholders, achieve 2% higher than industry average crude utilization, target annual adjusted controllable costs of $5.50 per barrel in Refining, grow Midstream and Chemicals mid-cycle adjusted EBITDA $1 billion in total by 2027, and maintain financial strength and flexibility by reducing total debt to $17 billion. Though the quarterly performance was messy, we continue to like Phillips 66. Shares yield 3.9% at the time of this writing.


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