On 05 Nov 2019, Phillips 66 stock identified change of 51.61% away from 52-week low price and just recently situated move of -0.72% off 52-week high cost. PSX stock has been tape-recorded 13.38% away from 50 day moving average and 22.72% away from 200 day moving average. The companys combined debt-to-capital ratio was 31% and its net debt-to-capital ratio was 26%. Not Including PSXP, the debt-to-capital ratio was 25% and the net debt-to-capital ratio was 21%.
The typical volatility for the week at 1.82% and for month was at 1.89%.
On 05 Nov 2019, Phillips 66 stock identified change of 51.61% away from 52-week low price and recently located move of -0.72% off 52-week high cost. PSX stock has actually been taped 13.38% away from 50 day moving average and 22.72% away from 200 day moving average.
Phillips 66 (PSX) mentioned third-quarter 2019 profits of $712M, contrast with $1.4 B in the second quarter of 2019. Not Including unique products of $690M in the 3rd quarter, primarily impairments related to the companys investment in DCP Midstream, LLC, adjusted profits were $1.4 B, contrast with second-quarter adjusted profits of $1.4 B.
” We continued to successfully execute our perform and delivered another provided of solid financial results,” stated Greg Garland, chairman and CEO of Phillips 66. The Lake Charles isomerization system reached complete production, and line fill started on the Gray Oak Pipeline.
” During the quarter, we returned $841M to investors through dividends and share repurchases. As part of our continuous commitment to return capital to our shareholders, we reported a brand-new $3B share repurchase program. Considering that 2012, we have returned about $25B to shareholders through dividends and share repurchases and exchanges and have minimized our initial shares exceptional by one-third.”
Financial Position, Liquidity and Return of Capital
Phillips 66 created $1.7 B in cash from operations during the 3rd quarter, including $518M of money distributions from equity associates. Not Including working capital impacts, running capital was $1.8 B. Phillips 66 Partners (PSXP) released $900M of unsecured notes and repaid its $400M term loan in the quarter. On Oct. 15, 2019, PSXP paid back an extra $300M of outstanding debt.
Capital investment and financial investments in the 3rd quarter were $867M. Phillips 66 funded $439M of share repurchases and $402M of dividends in the quarter. The company ended the quarter with 444M shares impressive.
As of Sept. 30, 2019, money and money equivalents were $2.3 B, and combined financial obligation was $11.9 B, consisting of $3.8 B at PSXP. The businesss combined debt-to-capital ratio was 31% and its net debt-to-capital ratio was 26%. Not Including PSXP, the debt-to-capital ratio was 25% and the net debt-to-capital ratio was 21%.
In Midstream, Phillips 66 Partners is building the 900,000 BPD Gray Oak Pipeline, which is expected to begin preliminary service in the fourth quarter of 2019. The pipeline will provide petroleum transport from the Permian and Eagle Ford to Texas Gulf Coast destinations that consist of Corpus Christi, the Sweeny location, including the businesss Sweeny Refinery, as well as access to the Houston market. Phillips 66 Partners has a 42.25% ownership in the pipeline.
The Gray Oak Pipeline will link to several terminals in Corpus Christi, including the South Texas Gateway Terminal presently being built by Buckeye Partners, L.P. The marine export terminal will have two deepwater docks, with storage capability of over 7M barrels and as much as 800,000 BPD of throughput capability. Phillips 66 Partners owns a 25% interest in the terminal, which is predictable to launch by mid-2020.
Phillips 66 is expanding the Sweeny Hub with the addition of three fractionators, each with capability of 150,000 BPD. Fracs 2 and 3 are anticipated to launch in the fourth quarter of 2020. Frac 4 is foreseeable to be finished in the second quarter of 2021. The new fractionators are supported by long-term customer commitments. Upon completion of Frac 4, the Sweeny Hub will have 550,000 BPD of fractionation capability.
At the Sweeny Hub, Phillips 66 Partners is adding 6M barrels of storage capacity at Clemens Caverns. Upon completion in the fourth quarter of 2020, Clemens Caverns will have 15M barrels of storage capability. Phillips 66 Partners is also constructing the C2G Pipeline, a 16 inch ethane pipeline that will connect Clemens Caverns to petrochemical centers in Gregory, Texas, near Corpus Christi. The project is backed by long-lasting commitments and is predictable to be finished in mid-2021.
The company continues to broaden capacity at its Beaumont Terminal, including 2.2 M barrels of crude oil storage. Upon conclusion in the first quarter of 2020, the terminal will have 16.8 M barrels of overall crude and product storage capacity.
Phillips 66 is advancing the Liberty Pipeline, which will provide petroleum transportation from the Rockies and Bakken production areas to Cushing, Oklahoma. Liberty is supported by long-term shipper dedications, and initial service is foreseeable in the very first half of 2021. Phillips 66 owns a 50% interest in Liberty and will construct and operate the pipeline.
Our joint venture partner will build and Phillips 66 will operate the pipeline. Phillips 66 owns a 50% interest in the venture.
DCP Midstreams OConnor 2 plant was put in service in the quarter, adding 200M cubic feet per day of gas processing capacity in the DJ Basin. In the Permian, DCP Midstream has a 25% interest in the Gulf Coast Express Pipeline, which carries about 2B cubic feet each day of gas to Gulf Coast markets. The pipeline started business operations during the quarter.
The Basic Materials sector company, Phillips 66 acknowledged modification of 0.32% to $118.92 along volume of 2263082 shares in recent session compared to an average volume of 2515.28 K. The stock observed return of -0.03% in 5 days trading activity. The stock was at 17.32% over one-month efficiency. PSXs shares are at 22.18% for the quarter and driving a 20.11% return over the course of the previous year and is now at 38.04% considering that this point in 2018. The average volatility for the week at 1.82% and for month was at 1.89%. There are 449.01 M shares outstanding and 443.53 M shares are drifted in market. Now the stock beta is 1.11.