Phillips 66 Partners LP (NYSE:PSXP) is reporting third quarter financial results on Friday 30th October 2020, before market open.
According to analysts surveyed by Thomson Reuters, PSXP is expected to report 3Q20 income of $ 0.84 per share from revenue of $ 385.43 million.
For the full year, analysts anticipate top line of $ 1612.10 million, while looking forward to income of $ 3.65 per share bottom line.
Previous Quarter Performance
Phillips 66 Partners LP unwinded income for the second quarter of $ 1.05 per share, from the revenue of $ 430.00 million. The quarterly earnings fell 8.70 percent while revenues increased 9.31 percent compared with the same quarter last year.
Wall street analysts are predicting, PSXP to report 2Q20 income of $ 0.74 per share from revenue of $ 365.82 million. The bottom line results beat street analysts by $ 0.31 or 41.89 percent, at the same time, top line results outshined analysts by $ 64.18 million or 17.54 percent.
Stock Performance
Shares of Phillips 66 Partners LP traded up $ 0.67 or 2.80 percent on Thursday, reaching $ 24.41 with volume of 581.80 thousand shares. Phillips 66 Partners LP has traded high as $ 24.57 and has cracked $ 23.15 on the downward trend
According to the previous trading day, closing price of $ 24.41, representing a 25.00 % increase from the 52 week low of $ 19.00 and a 63.58 % decrease over the 52 week high of $ 65.22.
The company has a market capital of $ 5.57 billion and is part of the Energy sector and Oil & Gas Midstream industry.
Recent Analyst recommendations
- On 6th October 2020, maintained by Barclays at Equal-Weight rating, with $ 27.00 target price.
Conference Call
Phillips 66 Partners LP will be hosting a conference call at 2:00 PM eastern time on 30th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.phillips66partners.com
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. Phillips 66 Partners GP LLC operates as the general partner of Phillips 66 Partners LP.
