Activist Elliott has unfinished business at Phillips 66. How its plan to build value may unfold
Publishing timestamp: 2025-02-15 08:51:08
Summary
Elliott, an activist investor, has issued a plan called "Streamline66" to address Phillips 66's underperformance and poor corporate governance. The plan includes streamlining the company's portfolio, improving operational performance, and adding new independent directors to the board. Elliott believes that implementing this plan could increase PSX's share price to $200 per share, with potential to reach over $300 if executed successfully. Elliott may nominate a full slate of directors to hold management accountable.
Sentiment: MIXED
Tickers: PSX,
Keywords: hedge funds, phillips 66, business news,