Phillips 66 Partners LP [PSXP] Stock trading around $28.48 per share: What’s Next?

Phillips 66 Partners LP [NYSE: PSXP] stock went on a downward path that fall over -3.39% on Friday, amounting to a one-week price increase of more than 2.45%. The company report on July 31, 2020 that Phillips 66 Partners Reports Second-Quarter 2020 Financial Results.

Phillips 66 Partners LP (NYSE: PSXP) announces second-quarter 2020 earnings of $255 million, or $1.05 per diluted common unit. Cash from operations was $215 million, and distributable cash flow was $218 million. Adjusted EBITDA was $269 million in the second quarter, compared with $321 million in the prior quarter.

“During the quarter, we continued to demonstrate our commitment to operating excellence,” said Greg Garland, Phillips 66 Partners’ chairman and CEO. “Our financial results reflect the ongoing economic downturn. We reached key milestones with the Gray Oak Pipeline achieving full service and supplying the first crude oil into the South Texas Gateway Terminal. We remain focused on safe and reliable operations, as well as maintaining our strong balance sheet and continuing our disciplined approach to capital allocation.”.

Over the last 12 months, PSXP stock dropped by -45.23%. The one-year Phillips 66 Partners LP stock forecast points to a potential upside of 27.64. The average equity rating for PSXP stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $6.73 billion, with 228.34 million shares outstanding and 55.25 million shares in the current float. Compared to the average trading volume of 778.52K shares, PSXP stock reached a trading volume of 1048970 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $39.36 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 2.00. 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.

Wells Fargo have made an estimate for Phillips 66 Partners LP shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on July 22, 2020. The new note on the price target was released on July 20, 2020, representing the official price target for Phillips 66 Partners LP stock. Previously, the target price had yet another raise from $41 to $43, while Jefferies kept a Hold rating on PSXP stock.

The Average True Range (ATR) for Phillips 66 Partners LP is set at 1.90, with the Price to Sales ratio for PSXP stock in the period of the last 12 months amounting to 6.27. The Price to Book ratio for the last quarter was 3.01, with the Price to Cash per share for the same quarter was set at 0.03.

PSXP Stock Performance Analysis:

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 2.45. With this latest performance, PSXP shares dropped by -4.78% in over the last four-week period, additionally sinking by -53.36% over the last 6 months – not to mention a drop of -45.23% 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 39.27, with the RSI for the last a single of trading hit 42.62, and the three-weeks RSI is set at 39.75 for Phillips 66 Partners LP [PSXP]. The present Moving Average for the last 50 days of trading for this stock 35.14, while it was recorded at 28.85 for the last single week of trading, and 47.25 for the last 200 days.

Insight into Phillips 66 Partners LP 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 0.30 and a Current Ratio set at 0.30.

PSXP Stock EPS

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 0.97/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 18.60%. 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 1.76%.

Phillips 66 Partners LP [PSXP] Insider Position Details

There are presently around $1,546 million, or 24.10% 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 8,805,276 shares of the stock with an approximate value of $250.77 million in PSXP stocks shares; and GOLDMAN SACHS GROUP INC, currently with $105.11 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 July and at the time of the July reporting period, where 71 institutional holders increased their position in Phillips 66 Partners LP [NYSE:PSXP] by around 5,047,333 shares. Additionally, 108 investors decreased positions by around 9,551,425 shares, while 26 investors held positions by with 39,685,649 shares. The mentioned changes placed institutional holdings at 54,284,407 shares, according to the latest SEC report filing. PSXP stock had 13 new institutional investments in for a total of 326,391 shares, while 41 institutional investors sold positions of 523,501 shares during the same period.

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