Large chemical and midstream operations set Phillips 66 apart from its peers.
Like peers, Phillips 66 reported an increase in third-quarter earnings from the year before on strong refining results that benefited from an improved margin environment in the wake of Hurricane Harvey. However, hurricane activity negatively affected its other segments, contributing in part to year-over-year earnings declines. While the nonrefining segments were a source of weakness in year-over-year earnings growth, we still see the direction of investment dollars toward these segments as prude...
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