Update: Elliott Says Survey Shows Phillips 66 Institutional Investors 'Share Elliott's Frustration' With Corporate Direction

MT Newswires Live2025-04-17

(Updates with Phillips 66's comments in the last paragraph.)

Phillips 66 (PSX) shareholder Elliott Investment Management said Wednesday that findings from its third-party survey of the oil company's institutional investors showed they "share Elliott's frustration" with alleged "underperformance and lack of a compelling strategic direction."

Elliott, which holds about 6% of the oil company's shares, wants investors to vote for its slate of four directors at the Phillips 66 annual shareholder meeting on May 21.

"Elliott clearly struggles with the definitions of independent and third-party," a Phillips 66 spokesperson said in an email statement to MT Newswires. "We are confident shareholders will recognize that paid consultants are not independent investors, and Elliott's proxy solicitor is not a third-party pollster."

Phillips 66 shares rose 1.9% in after-hours trading.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2528420642?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-04-17 05:28","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2528420642","market":"fut","top_or_hot":-1,"title":"Update: Elliott Says Survey Shows Phillips 66 Institutional Investors 'Share Elliott's Frustration' With Corporate Direction","media":"MT Newswires Live","content":"<html><body><p> (Updates with <a href=\"https://laohu8.com/S/PSX\">Phillips 66</a>'s comments in the last paragraph.)</p><p>Phillips 66 (PSX) shareholder Elliott Investment Management said Wednesday that findings from its third-party survey of the oil company's institutional investors showed they \"share Elliott's frustration\" with alleged \"underperformance and lack of a compelling strategic direction.\"</p><p>Elliott, which holds about 6% of the oil company's shares, wants investors to vote for its slate of four directors at the Phillips 66 annual shareholder meeting on May 21.</p><p>\"Elliott clearly struggles with the definitions of independent and third-party,\" a Phillips 66 spokesperson said in an email statement to MT Newswires. \"We are confident shareholders will recognize that paid consultants are not independent investors, and Elliott's proxy solicitor is not a third-party pollster.\"</p><p>Phillips 66 shares rose 1.9% in after-hours trading.</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Update: Elliott Says Survey Shows Phillips 66 Institutional Investors 'Share Elliott's Frustration' With Corporate Direction</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUpdate: Elliott Says Survey Shows Phillips 66 Institutional Investors 'Share Elliott's Frustration' With Corporate Direction\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1092851196\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">MT Newswires Live </p>\n<p class=\"h-time\">2025-04-17 05:28</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p> (Updates with <a href=\"https://laohu8.com/S/PSX\">Phillips 66</a>'s comments in the last paragraph.)</p><p>Phillips 66 (PSX) shareholder Elliott Investment Management said Wednesday that findings from its third-party survey of the oil company's institutional investors showed they \"share Elliott's frustration\" with alleged \"underperformance and lack of a compelling strategic direction.\"</p><p>Elliott, which holds about 6% of the oil company's shares, wants investors to vote for its slate of four directors at the Phillips 66 annual shareholder meeting on May 21.</p><p>\"Elliott clearly struggles with the definitions of independent and third-party,\" a Phillips 66 spokesperson said in an email statement to MT Newswires. \"We are confident shareholders will recognize that paid consultants are not independent investors, and Elliott's proxy solicitor is not a third-party pollster.\"</p><p>Phillips 66 shares rose 1.9% in after-hours trading.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4585","symbol_name":"ETF&股票定投概念","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2528420642","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2528420642","pubTimestamp":1744838901,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Phillips 66  shareholder Elliott Investment Management said Wednesday that findings from its third-party survey of the oil company's institutional investors showed they \"share Elliott's frustration\" with alleged \"underperformance and lack of a compelling strategic direction.\"Elliott, which holds about 6% of the oil company's shares, wants investors to vote for its slate of four directors at the Phillips 66 annual shareholder meeting on May 21.\"Elliott clearly struggles with the definitions of independent and third-party,\" a Phillips 66 spokesperson said in an email statement to MT Newswires. \"We are confident shareholders will recognize that paid consultants are not independent investors, and Elliott's proxy solicitor is not a third-party pollster.\"Phillips 66 shares rose 1.9% in after-hours trading.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","BK4138":"石油与天然气的炼制和营销","PSX":"Phillips 66","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","BK4588":"碎股","LU0477156953.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"RE\" (USD) ACC","LU0300736492.USD":"FRANKLIN NATURAL RESOURCES \"A\" (USD) INC","LU0130517989.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"R\" INC","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","ISBC":"投资者银行","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","BK4211":"区域性银行","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC"},"translate_title":"更新：Elliott表示调查显示Phillips 66机构投资者对企业方向“与Elliott一样感到沮丧”","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PSX":1,"ISBC":1},"content_text":"(Updates with Phillips 66's comments in the last paragraph.)Phillips 66 (PSX) shareholder Elliott Investment Management said Wednesday that findings from its third-party survey of the oil company's institutional investors showed they \"share Elliott's frustration\" with alleged \"underperformance and lack of a compelling strategic direction.\"Elliott, which holds about 6% of the oil company's shares, wants investors to vote for its slate of four directors at the Phillips 66 annual shareholder meeting on May 21.\"Elliott clearly struggles with the definitions of independent and third-party,\" a Phillips 66 spokesperson said in an email statement to MT Newswires. \"We are confident shareholders will recognize that paid consultants are not independent investors, and Elliott's proxy solicitor is not a third-party pollster.\"Phillips 66 shares rose 1.9% in after-hours trading.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.0","shortVersion":"4.36.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2528420642","isCrawlerRequest":true}