Phillips 66 Surges to 152nd Most Traded Stock with $1.103 Billion Turnover Amid Elliott Management Controversy

On April 9, 2025, Phillips 66 (PSX) experienced a significant surge in trading volume, with a turnover of $1.103 billion, marking a 147.06% increase from the previous day. This substantial rise in trading activity positioned Phillips 66 as the 152nd most traded stock of the day, reflecting heightened investor interest and market activity. The stock price of Phillips 66 rose by 11.05%.

Phillips 66 has responded to a letter from Gregory J. Goff, challenging his claimed independence from Elliott Management. The company highlighted that Goff currently serves as the CEO of Amber Energy, an Elliott-backed entity competing for Citgo, a direct competitor of Phillips 66. This relationship was not disclosed in Goff's communication to shareholders, leading Phillips 66 to characterize the omission as misleading. The company views this as a desperate attempt by Elliott Management to gain support for their proposed breakup of Phillips 66. Phillips 66 emphasized its track record of returning $43 billion in value to shareholders through various market cycles and reiterated its commitment to engaging with investors based on facts.

Phillips 66, headquartered in Houston, is a leading integrated downstream energy provider with a diverse portfolio that includes Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels businesses. The company is committed to safely and reliably providing energy while pursuing a lower-carbon future. Phillips 66 has employees around the globe who are dedicated to improving lives through their operations.