Phillips 66 Partners LP (NYSE:PSXP) shares fell to a low of $38.50 before closing at $40.37. Intraday shares traded counted 1.91 million, which was -87.57% lower than its 30-day average trading volume of 1.02M. PSXP’s previous close was $38.50 while the outstanding shares total 228.34M. The firm has a beta of 1.18, a 12-month trailing P/E ratio of 17.68, and a growth ratio of 1.07. The stock’s Relative Strength Index (RSI) is 77.46, with weekly volatility at 4.47% and ATR at 1.30. The PSXP stock’s 52-week price range has touched low of $21.28 and a $48.51 high. The stock traded higher over the last trading session, gaining 4.86% on 05/24/21.
Investors have identified the Oil & Gas Midstream company Phillips 66 Partners LP as an interesting stock but before investments are made there, an in-depth look at its trading activities will have to be conducted. The share is trading with a market value of around $8.67 billion, the company now has both obstacles and catalysts that affect them and they came from their mode of operations. With the company affected by events currently, it is a perfect time to analyze the numbers behind the firm in order to come up with a rather realistic picture of what this stock is.
Phillips 66 Partners LP (PSXP) Fundamentals that are to be considered.
When analyzing a stock, the first fundamental thing to take into account is the balance sheet. How healthy the balance sheet of a company is will determine if the company will be able to carry out all its financial and non-financial obligations and also keep the faith of its investors. For PSXP, the company has in raw cash 3.0 million on their books with 500.0 million currently as liabilities. How the trend is over time is what investors should be concerned about. The company has a healthy balance sheet as their debt profile has been on an incline. In terms of their assets, the company currently has 143.0 million total, with 666.0 million as their total liabilities.
PSXP were able to record 149.0 million as free cash flow during the 07/23/2021 quarter of the year, this saw their quarterly net cash flow reduce by -4.0 million. In cash movements, the company had a total of 227.0 million as operating cash flow.
Potential earnings growth for Phillips 66 Partners LP (PSXP)
In order to determine the future investment potential for this stock, we will have to analyze key trends that affect it. During the 07/23/2021 quarter of the year, Phillips 66 Partners LP recorded a total of 376.0 million in revenue. This figure implies that they witnessed a quarterly year/year change in their earnings with -7.45% coming in sequential stages and their sales for the 07/23/2021 quarter reducing by -3.72%.
What matters though is how it ends. When the core data for the company is broken down, then the stock sounds interesting. The company spent 387.0 million trying to sell their products during the last quarter, with the result yielding a gross income of -11.0 million. This allows shareholders to hold on to 228.34M with the recently reported earning now reading -0.13 cents per share. This is a figure that compared to analyst’s prediction for their 07/23/2021 (0.74 cents a share).
Having a look at the company’s valuation, the company is expected to record 3.88 total earnings per share during the next fiscal year. It is very important though to remember that the importance of trend far outweighs that of outlook. This analysis has been great and getting further updates on PSXP sounds very interesting.
Is the stock of PSXP attractive?
In related news, Director, Bairrington Phillip David bought 1,445 shares of the company’s stock in a transaction that recorded on Jan 20. The purchase was performed at an average price of 30.06, for a total value of 43,437. As the purchase deal closes, the Director, Haney Mark now bought 1,445 shares of the company’s stock, valued at 43,422. Also, Director, Bairrington Phillip David bought 15,000 shares of the company’s stock in a deal that was recorded on Sep 25. The shares were cost at an average price of 21.70 per share, with a total market value of 325,474. In the last 6 months, insiders have changed their ownership in shares of company stock by 0.10%.
3 out of 12 analysts covering the stock have rated it a Buy, while 8 have maintained a Hold recommendation on Phillips 66 Partners LP. 0 analysts has assigned a Sell rating on the PSXP stock. The 12-month mean consensus price target for the company’s shares has been set at $35.85.