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Phillips 66 Message Board

  • jeffsdavis Jul 29, 2013 1:44 PM Flag

    PSXP coming down to earth

    The stocks a little red to the tune of 1.60 today. I guess like most I'll wait for it to hit a reasonable price then maybe jump in. Still would like to see PSX get a real kick in butt to the plus side. We'll just have to see on Wed.

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    • Over allotment will kick in will offer up a better support level. I think the stock units will establish a base after these new units trade.....legs to stand on about $32+ is my call. Reading about the refinery dropped down outside of St. Louis in IL. This is a first class asset in a prime location serving central markets. Operating well under it's capacity with ample feed stock to 3x multiple daily production over the next few years. Revenue growth will be substantial year over year from this asset alone. Storage capacity is huge receiving lower cost Canadian crude. PSXP.....A Buy IM Opinion.

      Sentiment: Buy

    • A lot of insider buying bodes well for psxp. The CEO, CFO, etc are piling in. Spinoffs with heavy insider buyiing at the ipo is a powerful positive indicator.

72.52-2.21(-2.96%)3:20 PMEST