We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Phillips 66's Freeport LPG Export Terminal Comes Online
Read MoreHide Full Article
Phillips 66 (PSX - Free Report) recently announced that its Freeport LPG Export Terminal in Freeport, TX, is fully functional. In fact, the company loaded its first contracted cargo on the Commander, a very large gas carrier that sailed from the terminal on Dec 16.
We note that two ships can be loaded at a time with refrigerated propane and butane at a combined rate of 36,000 barrels per hour at the Freeport LPG Export Terminal. Supply is obtained from the Phillips 66 Partners L.P.’s (PSXP) Sweeny fractionator and Clemens storage facility, which is linked by pipeline to the Mont Belvieu Hub.
The Freeport LPG Export Terminal became operational after a four-year effort. The terminal was constructed to fulfil the need to develop a new U.S. Gulf Coast natural gas liquids (NGL) market hub that also comprises Phillips 66 Partners’ 100,000 barrel-per-day Sweeny fractionator and 7.5 million barrel Clemens storage facility.
The export facility was developed to satisfy the increasing international demand for reasonable U.S. NGL. As Phillips 66 expects U.S. production to keep growing, it is assessing additional NGL fractionation and infrastructure options along the U.S. Gulf Coast.
Phillips 66 is a diversified energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The company processes, transports, stores and markets fuels and products globally.
Phillips 66 is focused on its supply chain network and invests heavily on transportation and logistics assets. This enables the company to procure crude from sources round the globe. The company’s strong fundamentals are reflected by its massive price strength. Shares of Phillips 66 have gained 6.6% year to date, whereas the Zacks categorized Oil Refining and Marketing market slipped 3.5%. Phillips 66 currently has a Zacks Rank #3 (Hold). Some better-ranked players in the same sector include SunCoke Energy Inc. (SXC - Free Report) , Suncor Energy, Inc. (SU - Free Report) and Futurefuel Corp. (FF - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
SunCoke Energy posted a positive earnings surprise of 177.78% in the last reported quarter. It reported a positive earnings surprise in three of the four preceding quarters.
Suncor Energy posted a positive earnings surprise of 300.00% in the preceding quarter. It reported an average earnings surprise of 40.55% for the four trailing quarters.
Futurefuel Corp. posted a positive earnings surprise of 20.83% in the last reported quarter. It reported a positive earnings surprise in all of the last four quarters.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Phillips 66's Freeport LPG Export Terminal Comes Online
Phillips 66 (PSX - Free Report) recently announced that its Freeport LPG Export Terminal in Freeport, TX, is fully functional. In fact, the company loaded its first contracted cargo on the Commander, a very large gas carrier that sailed from the terminal on Dec 16.
.jpg)
We note that two ships can be loaded at a time with refrigerated propane and butane at a combined rate of 36,000 barrels per hour at the Freeport LPG Export Terminal. Supply is obtained from the Phillips 66 Partners L.P.’s (PSXP) Sweeny fractionator and Clemens storage facility, which is linked by pipeline to the Mont Belvieu Hub.
The Freeport LPG Export Terminal became operational after a four-year effort. The terminal was constructed to fulfil the need to develop a new U.S. Gulf Coast natural gas liquids (NGL) market hub that also comprises Phillips 66 Partners’ 100,000 barrel-per-day Sweeny fractionator and 7.5 million barrel Clemens storage facility.
The export facility was developed to satisfy the increasing international demand for reasonable U.S. NGL. As Phillips 66 expects U.S. production to keep growing, it is assessing additional NGL fractionation and infrastructure options along the U.S. Gulf Coast.
Phillips 66 is a diversified energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The company processes, transports, stores and markets fuels and products globally.
Phillips 66 is focused on its supply chain network and invests heavily on transportation and logistics assets. This enables the company to procure crude from sources round the globe. The company’s strong fundamentals are reflected by its massive price strength. Shares of Phillips 66 have gained 6.6% year to date, whereas the Zacks categorized Oil Refining and Marketing market slipped 3.5%.
Phillips 66 currently has a Zacks Rank #3 (Hold). Some better-ranked players in the same sector include SunCoke Energy Inc. (SXC - Free Report) , Suncor Energy, Inc. (SU - Free Report) and Futurefuel Corp. (FF - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
SunCoke Energy posted a positive earnings surprise of 177.78% in the last reported quarter. It reported a positive earnings surprise in three of the four preceding quarters.
Suncor Energy posted a positive earnings surprise of 300.00% in the preceding quarter. It reported an average earnings surprise of 40.55% for the four trailing quarters.
Futurefuel Corp. posted a positive earnings surprise of 20.83% in the last reported quarter. It reported a positive earnings surprise in all of the last four quarters.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>