| 11-Jan-2025 12:54 AM CST Phillips 66 Acquisition Details Phillips 66 (PSX) announced a significant acquisition of EPIC Y-Grade GP, LLC and EPIC Y-Grade, LP for $2.2 billion in cash. The deal encompasses various pipelines and distribution systems, aiming to bolster Phillips 66's position in the natural gas liquids (NGL) market. This acquisition is part of Phillips 66's strategy to expand its presence in the Permian Basin and strengthen its midstream operations. Phillips 66's Strategic Expansion Phillips 66's acquisition of EPIC NGL is a strategic move to enhance its natural gas liquids business. The deal includes fractionators, pipelines, and plans for expansion. This acquisition will improve Phillips 66's midstream capabilities and support its growth in the Permian Basin. Analyst Recommendations and Price Targets Analysts have provided mixed recommendations for Phillips 66 following the recent acquisition news. Jean Ann Salisbury from Bank of America Securities maintained a Buy rating on Phillips 66 with a slightly lowered price target of $147. However, Piper Sandler downgraded the company to Neutral from Overweight citing concerns about the financial outlook. Upcoming Earnings Report Phillips 66 is scheduled to release its next earnings report on Friday, January 31, 2025. The company's financial performance will be closely watched by investors and analysts particularly in light of the recent acquisition. Investors are looking forward to details on how this deal impacts their future growth prospects. | 
