Phillips 66 Partners (NYSE:PSXP) Releases Earnings Results, Beats Expectations By $0.30 EPS

Phillips 66 Partners (NYSE:PSXP) issued its earnings results on Friday. The oil and gas company reported $1.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.30, MarketWatch Earnings reports. The business had revenue of $430.00 million during the quarter, compared to analysts’ expectations of $361.25 million. Phillips 66 Partners had a net margin of 54.94% and a return on equity of 45.19%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.15 earnings per share.

Shares of PSXP stock opened at $27.80 on Friday. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.05 and a quick ratio of 0.99. The firm has a market cap of $6.35 billion, a PE ratio of 6.85 and a beta of 1.33. The company has a 50-day moving average of $33.94 and a two-hundred day moving average of $44.42. Phillips 66 Partners has a 1-year low of $19.00 and a 1-year high of $65.22.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Friday, July 31st will be paid a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a yield of 12.59%. The ex-dividend date is Thursday, July 30th. Phillips 66 Partners’s dividend payout ratio (DPR) is presently 81.59%.

PSXP has been the subject of a number of recent research reports. Wells Fargo & Co cut shares of Phillips 66 Partners from an “overweight” rating to an “equal weight” rating and set a $34.00 target price for the company. in a research report on Wednesday, July 22nd. Raymond James dropped their price objective on shares of Phillips 66 Partners from $52.00 to $36.00 and set an “outperform” rating for the company in a report on Tuesday, July 21st. Citigroup dropped their price objective on shares of Phillips 66 Partners from $55.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday, June 16th. Jefferies Financial Group raised shares of Phillips 66 Partners from a “hold” rating to a “buy” rating and dropped their price objective for the company from $43.00 to $36.00 in a report on Monday, July 20th. Finally, Stifel Nicolaus dropped their price objective on shares of Phillips 66 Partners from $48.00 to $45.00 and set a “hold” rating for the company in a report on Monday, May 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. Phillips 66 Partners presently has an average rating of “Buy” and an average target price of $47.27.

Phillips 66 Partners Company Profile

Phillips 66 Partners LP owns, operates, develops, and acquires crude oil, refined petroleum products, and natural gas liquids (NGL) pipelines, terminals, and other transportation and midstream assets. The company operates pipeline assets in Lake Charles, Sweeny, Wood River, Borger/Ponca City, Billings, and Borger; terminal, rail rack, and storage assets in Louisiana, Texas, New Mexico, Illinois, Missouri, Kansas, Oklahoma, New Jersey, Washington, Wyoming, and Montana; marine assets in Lake Charles, Bayway, and Wood River; and NGL assets in Texas and Louisiana.

Further Reading: What are the reasons investors use put options?

Earnings History for Phillips 66 Partners (NYSE:PSXP)

Receive News & Ratings for Phillips 66 Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 Partners and related companies with's FREE daily email newsletter.