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  • Previous Rank23
  • Revenues ($M)$87,169
  • Revenue Percent Change-41.7%
  • Profits ($M)$4,227
  • Profits Percent Change-11.2%
  • Assets ($M)$48,580
  • Employees14,000

Like many companies that buy and refine crude oil and natural gas rather than selling them, Phillips 66 has been able to watch the devastation of the collapse in crude prices with relative calm. Admittedly, refining margins, which expanded as crude fell, compressed again earlier in 2016, causing it to miss analysts’ profit forecasts by a wide margin in the first quarter. But with U.S. gasoline demand set to rise this year, natural gas taking market share from coal in the electric power market, and with steady growth in global demand for plastics, its core businesses seem reasonably well set. On the downside, it has spent a lot of money to fit its refineries for processing (largely Canadian) heavy crude, which is at the wrong end of the global cost curve. But it has the confidence of Warren Buffett, who made it the fifth-largest holding in his portfolio at Berkshire Hathaway earlier this year, and it has a strong balance sheet even after whittling away its cash pile to increase dividends and stock buybacks. Major developments planned for this year include the completion of the Freeport LPG export terminal on the Gulf Coast.

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Company Information

CEO
Greg C. Garland
Sector
Energy
Industry
Petroleum Refining
HQ Location
Houston, TX
Employees14,000
Websitehttp://www.phillips66.com
Years on Global 500 List4

Phillips 66 Rank History

Key Financials (last fiscal year)

($ Millions)% change
Revenues ($M)$87,169-41.7%
Profits ($M)$4,227-11.2%
Assets ($M)$48,580-
Total Stockholder Equity ($M)$23,100-

Profit Ratios

Profit as % of Revenues4.8%
Profits as % of Assets8.7%
Profits as % of Stockholder Equity18.3%