Phillips 66 Partners LP [PSXP] Stock trading around $40.49 per share: What’s Next?

Phillips 66 Partners LP [NYSE: PSXP] traded at a high on 06/18/20, posting a 3.55 gain after which it closed the day’ session at $40.49. The results of the trading session contributed to over 1137670 shares changing hands. Over the past one week, the price volatility of Phillips 66 Partners LP stands at 8.47% while the volatility over the past one month is 5.35%.

The market cap for PSXP stock reached $9.45 billion, with 228.31 million shares outstanding and 55.23 million shares in the current float. Compared to the average trading volume of 842.51K shares, PSXP reached a trading volume of 1137670 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Phillips 66 Partners LP [PSXP]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PSXP shares is $48.27 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PSXP stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for Phillips 66 Partners LP shares, keeping their opinion on the stock as Hold, with their previous recommendation back on April 21, 2020. The new note on the price target was released on April 14, 2020, representing the official price target for Phillips 66 Partners LP stock. Previously, the target price had yet another drop from $59 to $41, while Jefferies kept a Buy rating on PSXP stock.

The Average True Range (ATR) for Phillips 66 Partners LP is set at 2.54, with the Price to Sales ratio for PSXP stock in the period of the last 12 months amounting to 8.62. The Price to Book ratio for the last quarter was 4.39, with the Price to Cash per share for the same quarter was set at 0.39. Price to Free Cash Flow for PSXP in the course of the last twelve months was 49.47 with Quick ratio for the last quarter at 1.00.

How has PSXP stock performed recently?

Phillips 66 Partners LP [PSXP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.02. With this latest performance, PSXP shares dropped by -10.36% in over the last four-week period, additionally sinking by -32.11% over the last 6 months – not to mention a drop of -19.34% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PSXP stock in for the last two-week period is set at 42.65, with the RSI for the last a single of trading hit 40.53, and the three-weeks RSI is set at 44.72 for Phillips 66 Partners LP [PSXP]. The present Moving Average for the last 50 days of trading for this stock 42.66, while it was recorded at 39.50 for the last single week of trading, and 51.50 for the last 200 days.

Phillips 66 Partners LP [PSXP]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Phillips 66 Partners LP [PSXP] shares currently have an operating margin of +43.96 and a Gross Margin at +53.37. Phillips 66 Partners LP’s Net Margin is presently recorded at +69.54.

Return on Total Capital for PSXP is now 8.28, given the latest momentum, and Return on Invested Capital for the company is 11.87. Return on Equity for this stock inclined to 23.53, with Return on Assets sitting at 12.25. When it comes to the capital structure of this company, Phillips 66 Partners LP [PSXP] has a Total Debt to Total Equity ratio set at 125.62. Additionally, PSXP Total Debt to Total Capital is recorded at 55.68, with Total Debt to Total Assets ending up at 51.14. Long-Term Debt to Equity for the company is recorded at 169.25, with the Long-Term Debt to Total Capital now at 55.27.

Receivables Turnover for the company is 11.26 with a Total Asset Turnover recorded at a value of 0.18.Phillips 66 Partners LP’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.

Earnings analysis for Phillips 66 Partners LP [PSXP]

With the latest financial reports released by the company, Phillips 66 Partners LP posted 1.15/share EPS, while the average EPS was predicted by analysts to be reported at 1.02/share.When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 12.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PSXP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Phillips 66 Partners LP go to 2.95%.

Insider trade positions for Phillips 66 Partners LP [PSXP]

There are presently around $2,167 million, or 24.50% of PSXP stock, in the hands of institutional investors. The top three institutional holders of PSXP stocks are: TORTOISE CAPITAL ADVISORS, L.L.C. with ownership of 9,829,253, which is approximately -22.416% of the company’s market cap and around 74.44% of the total institutional ownership; ALPS ADVISORS INC, holding 9,360,591 shares of the stock with an approximate value of $366.0 million in PSXP stocks shares; and GOLDMAN SACHS GROUP INC, currently with $144.3 million in PSXP stock with ownership of nearly 41.877% of the company’s market capitalization.

Positions in Phillips 66 Partners LP stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 82 institutional holders increased their position in Phillips 66 Partners LP [NYSE:PSXP] by around 6,104,609 shares. Additionally, 113 investors decreased positions by around 10,322,835 shares, while 19 investors held positions by with 39,001,794 shares. The mentioned changes placed institutional holdings at 55,429,238 shares, according to the latest SEC report filing. PSXP stock had 21 new institutional investments in for a total of 381,381 shares, while 41 institutional investors sold positions of 527,709 shares during the same period.

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