Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Phillips 66's first quarter 2025 earnings overview reflects both strategic advancements and current operational challenges faced by the company.</li><li>Mark Lashier, the Chairman and CEO, emphasized the company's focus on executing its transformational strategy despite a challenging macro-economic environment in the Refining, Renewables, and Chemicals segments.</li><li>The company reported $487 million in earnings but an adjusted loss of $368 million, attributing this to factors such as accelerated depreciation and the impact of significant turnaround activities, which temporarily affected volumes and margins.</li></ul>

Phillips 66's first quarter 2025 earnings overview reflects both strategic advancements and current operational challenges faced by the company.Mark Lashier, the Chairman and CEO, emphasized the company's focus on executing its transformational strategy despite a challenging macro-economic environment in the Refining, Renewables, and Chemicals segments.The company reported $487 million in earnings but an adjusted loss of $368 million, attributing this to factors such as accelerated depreciation and the impact of significant turnaround activities, which temporarily affected volumes and margins.

Phillips 66: Its Expansion & Integration of Midstream Operations With A Focus On NGLs Might Just Pay Off!

<ul><li>The battle for boardroom influence at Phillips 66 has entered a new phase.</li><li>On March 25, 2025, activist hedge fund Elliott Investment Management filed a lawsuit against Phillips 66 and its board, demanding that four board seats be opened for election at the upcoming annual shareholder meeting.</li><li>This move comes just weeks after Elliott revealed it had increased its stake in the oil refiner to $2.5 billion and nominated seven directors.</li></ul>

The battle for boardroom influence at Phillips 66 has entered a new phase.On March 25, 2025, activist hedge fund Elliott Investment Management filed a lawsuit against Phillips 66 and its board, demanding that four board seats be opened for election at the upcoming annual shareholder meeting.This move comes just weeks after Elliott revealed it had increased its stake in the oil refiner to $2.5 billion and nominated seven directors.

Phillips 66 Gets a Wake-Up Call From Activist Investor — Why Elliott Investments’ Intervention Could Unlock Value!

<ul><li>Phillips 66's latest earnings revealed a multifaceted performance analysis in a challenging margin environment.</li><li>The company's diversified and integrated portfolio, especially in midstream operations, has provided a sturdy foundation even amid fluctuating market conditions.</li><li>With the successful alignment of organizational priorities, Phillips 66 achieved significant milestones, including distributing $13.6 billion to shareholders through share repurchases and dividends since mid-2022.</li></ul>

Phillips 66's latest earnings revealed a multifaceted performance analysis in a challenging margin environment.The company's diversified and integrated portfolio, especially in midstream operations, has provided a sturdy foundation even amid fluctuating market conditions.With the successful alignment of organizational priorities, Phillips 66 achieved significant milestones, including distributing $13.6 billion to shareholders through share repurchases and dividends since mid-2022.

Phillips 66: The 5 Hidden Pitfalls That Could Undermine Its 2025 Performance!

Global Editor, Base Oil News

Iain Pocock

Global Editor

Global Base Oils and Lubricants Markets

Base Oil News

Base Oil News focuses on the interplay between fundamentals and prices in the global base oils and lubricants markets.

Baseoilnews.com combines daily, weekly and monthly base oils and lubes fundamentals data from every region of the world to build the most comprehensive and up-to-date global picture of the state of the market.

The data and analysis provide key tools to understand current market developments and opportunities and to anticipate how the market is likely to behave in the coming months.

Base oils producers, lube blenders and consumers can then better plan accordingly.

Baseoilnews.com analyses and publishes market news and data every day as it breaks.

Commodities

<ul><li>Global base oils prices extend fall vs competing/feedstock prices following surge in crude oil prices.</li><li>Rising diesel premium to crude oil magnifies pressure on base oils prices.</li><li>Speed of fall in base oils price differentials suggests surge in crude prices rather than weaker supply-demand fundamentals is key factor driving lower margins.</li></ul>

Global base oils prices extend fall vs competing/feedstock prices following surge in crude oil prices.Rising diesel premium to crude oil magnifies pressure on base oils prices.Speed of fall in base oils price differentials suggests surge in crude prices rather than weaker supply-demand fundamentals is key factor driving lower margins.

Global base oils margins outlook: Week of 23 June

<ul><li>Global base oils price differentials fall sharply relative to feedstock/competing fuel prices in June 2025 following surge in crude oil prices.</li><li>Speed and size of fall in base oils margins reflects more the surge in crude oil prices rather than sudden, unexpected change in base oils supply-demand fundamentals.</li><li>Lack of any sudden, unexpected change in supply-demand fundamentals could support reversion of base oils margins closer to their higher levels in early-June 2025 before their slump in recent weeks.</li></ul>

Global base oils price differentials fall sharply relative to feedstock/competing fuel prices in June 2025 following surge in crude oil prices.Speed and size of fall in base oils margins reflects more the surge in crude oil prices rather than sudden, unexpected change in base oils supply-demand fundamentals.Lack of any sudden, unexpected change in supply-demand fundamentals could support reversion of base oils margins closer to their higher levels in early-June 2025 before their slump in recent weeks.

Global base oils arb outlook: Week of 23 June

United States

Phillips 66 is a downstream energy company.  The Company's operations include oil refining, marketing and transportation.  Phillips 66's operations also include chemical manufacturing and power generation.

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Phillips 66 (PSX US)

Phillips 66: Its Expansion & Integration of Midstream Operations With A Focus On NGLs Might Just Pay Off!

Phillips 66's first quarter 2025 earnings overview reflects both strategic advancements and current operational challenges faced by the...

Baptista Research

Phillips 66 Gets a Wake-Up Call From Activist Investor — Why Elliott Investments’ Intervention Could Unlock Value!

The battle for boardroom influence at Phillips 66 has entered a new phase. On March 25, 2025, activist hedge fund Elliott Investment Management...

Baptista Research

Phillips 66: The 5 Hidden Pitfalls That Could Undermine Its 2025 Performance!

Phillips 66's latest earnings revealed a multifaceted performance analysis in a challenging margin environment. The company's diversified and...

Baptista Research

Global base oils margins outlook: Week of 23 June

Global base oils prices extend fall vs competing/feedstock prices following surge in crude oil prices. Rising diesel premium to crude oil...

Base Oil News

Global base oils arb outlook: Week of 23 June

Global base oils price differentials fall sharply relative to feedstock/competing fuel prices in June 2025 following surge in crude oil...

Base Oil News

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