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Phillips 66: The Beat Goes On Despite Exposure To NGL Pricing

Phillips 66's (NYSE:PSX) Q4 earnings report dismissed all notions that sharply lower crude oil prices would negatively affect this company's long-term growth story. While DCP did report a loss of $12 million for the quarter, considering the decline in NGL prices and the fact that DCP Midstream is the No. 1 producer of NGLs in the U.S., the loss was much less than I expected. Further, those investors astute enough to look down the road a bit (mid-2016) will see that lower NGL prices will mean excellent profit potential for PSX's Freeport LPG Export Terminal. Meantime, the Refining, Midstream, and Chemicals Segments all reported very solid results. Bottom line: The growth story that is Phillips 66, what I call possibly the best long-term investment in "Shale USA," is still firmly in…