51.40 0.00 (0.00%)
After hours: 4:16PM EDT
|Bid||51.39 x 800|
|Ask||51.42 x 800|
|Day's Range||51.02 - 51.57|
|52 Week Range||40.76 - 55.02|
|Beta (3Y Monthly)||0.93|
|PE Ratio (TTM)||12.67|
|Earnings Date||Jul 26, 2019|
|Forward Dividend & Yield||3.42 (6.65%)|
|1y Target Est||55.96|
Phillips 66 Partners (PSXP) is well-positioned to increase distributions in the coming quarters on a huge backlog of organic growth midstream projects.
Phillips 66 Partners LP announces that the board of directors of its general partner declared a second-quarter 2019 cash distribution of $0.855 per common unit, an increase of one cent per common unit from the first quarter of 2019.
Threatened flooding from a tropical storm in the U.S. Gulf of Mexico that cut nearly a third of the region's oil production has forced the shutdown of a coastal refinery, pushing oil and gasoline prices higher on Thursday. Phillips 66 said it expected to complete the closing of its 253,600-barrel-per-day (bpd) Alliance, Louisiana, refinery on Thursday after local authorities ordered a mandatory evacuation of the area. Pipeline operator Enbridge evacuated staff from three offshore platforms and halted operations on some deepwater Gulf of Mexico natural gas pipelines.
Phillips 66 is the latest in a long list of companies trying to build an oil export terminal along the U.S. Gulf Coast.
Phillips 66 Partners executive management will host a conference call webcast at 2 p.m. EDT on Friday, July 26, to discuss the partnership’s second-quarter 2019 financial results, which will be released earlier that day, and provide an update on strategic initiatives.
The top executive at Houston-based Phillips 66 (NYSE: PSX) sees opportunities to expand his company’s existing pipeline infrastructure. Phillips 66 is one of the joint venture owners behind the Dakota Access Pipeline, which pulls crude oil out of the Bakken shale and sends it south toward coastal refining and export centers. Greg Garland, CEO and chairman of Phillips 66, said that pipeline has been running at capacity, and he thinks it could expand further.
(Bloomberg) -- Phillips 66 is looking to build an offshore export terminal in the Gulf of Mexico, a project that would join a growing list of facilities being planned to handle the growing shipments of U.S. shale oil.The proposed deepwater port would be located about 21 nautical miles off the Texas coast, near the Port of Corpus Christi, the company said Wednesday in a statement. Phillips 66, the largest U.S. refining company by market value, would construct two parallel pipelines to carry crude to the facility’s two floating jetties, known as single-point mooring buoys, according to people familiar with the matter, who asked not to be named because the plan hasn’t been announced.Any offshore terminal would require approval from the U.S. Coast Guard and the U.S. Department of Transportation’s Maritime Administration.The proposed project “would provide an additional safe and environmentally sustainable solution for the export of abundant domestic crude oil supplies from major shale basins to global markets,” Dennis Nuss, a spokesman, said in an emailed statement.Phillips is already a partner in a venture to develop a deepwater marine terminal in Ingleside, Texas. Going ahead with an offshore project as well would put the company in direct competition with commodity trading house Trafigura Group Ltd., which is developing its own terminal in the Gulf of Mexico. That proposal has faced opposition from the Port of Corpus Christi, which along with The Carlyle Group is developing an onshore export terminal. (Updates with comment from company beginning in second paragraph.)\--With assistance from Sheela Tobben.To contact the reporters on this story: Rachel Adams-Heard in Houston at email@example.com;David Wethe in Houston at firstname.lastname@example.orgTo contact the editors responsible for this story: Simon Casey at email@example.com, Christine BuurmaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Phillips 66 is weighing whether to build an offshore export terminal in the Gulf of Mexico, a project that would join a growing list of facilities being planned to handle growing shipments of U.S. shale oil.
Gas Buddy, a service that tracks gas prices around the country and guides consumers to cheap gas, expects prices—already 6% lower than a year ago—to continue to drop.
Refiners’ Dividend Yields Rise, Stocks Fall(Continued from Prior Part)Phillips 66’s dividend yieldPhillips 66 (PSX) has a current dividend yield of 4.2%, which is better HollyFrontier (HFC) and Delek US Holdings (DK). HollyFrontier and Delek US
The largest Insider Buys this week were for Medtronic PLC (MDT), General Electric Co. (GE), Keurig Dr Pepper Inc. (KDP) and Phillips 66 (PSX). Director Richard H. Anderson bought 10,900 shares of MDT stock on May 24 at the average price of $92.4. Warning! GuruFocus has detected 5 Warning Signs with MDT.
Phillips 66 Partners LP (PSXP) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Phillips 66 Stock Has Fallen 11% in Q2(Continued from Prior Part)Phillips 66’s valuationsPhillips 66 trades at a forward PE ratio of 9.9x, which is above its peer average of 9.3x. Valero Energy (VLO) and PBF Energy (PBF) also trade above the peer
Which Refining Stocks Could Post More Gains?(Continued from Prior Part)Phillips 66’s implied gainsIn this part, we’ll discuss Phillips 66’s (PSX) implied gains. Phillips 66 is the second-highest refiner among the six refining stocks.
Phillips 66 Stock Has Fallen 11% in Q2(Continued from Prior Part)Short interest in Phillips 66The short interest in Phillips 66 (PSX) has risen from 1.1% on February 14 to the current level of 1.5%. Usually, everything else being equal, an increase
Phillips 66 Stock Has Fallen 11% in Q2(Continued from Prior Part)Institutional holding in Phillips 66In the previous quarter, Phillips 66 (PSX) stock rose due to better-than-expected earnings and a stronger equity market. Now, we’ll discuss
Phillips 66 Stock Has Fallen 11% in Q2(Continued from Prior Part)Phillips 66’s dividend per sharePhillips 66’s (PSX) dividend payments have risen in the past few years. In the current quarter, the company will pay a dividend of $0.9 per share on