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Why Phillips 66 Stock Was Selling Off Today

TheMotleyFool

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Why Phillips 66 Stock Was Selling Off TodayPhoto, wide shot, wide-angle lens, Coal company, neutral atmosphere, photo by Galina Stepanova: https://img.theapi.app/temp/0e838f13-fa33-4583-92e9-bf3375dacf70.png

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.

Image source: Getty Images.

Source Fool.com

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