Phillips 66 Partners LP (NYSE:PSXP) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Wednesday, October 18th.
PSXP has been the subject of a number of other research reports. Barclays PLC upgraded shares of Phillips 66 Partners from an “equal weight” rating to an “overweight” rating and set a $61.00 price objective for the company in a report on Tuesday, July 18th. Stifel Nicolaus set a $63.00 price objective on shares of Phillips 66 Partners and gave the company a “buy” rating in a report on Saturday, June 24th. Jefferies Group LLC reiterated a “hold” rating and set a $51.00 price objective on shares of Phillips 66 Partners in a report on Monday, October 16th. Citigroup Inc. decreased their price objective on shares of Phillips 66 Partners from $63.00 to $60.00 and set a “buy” rating for the company in a report on Monday, July 17th. Finally, Scotiabank set a $61.00 price objective on shares of Phillips 66 Partners and gave the company a “buy” rating in a report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. Phillips 66 Partners currently has an average rating of “Buy” and a consensus price target of $59.86.
Shares of Phillips 66 Partners (NYSE PSXP) traded up 3.14% during midday trading on Wednesday, hitting $51.32. The company had a trading volume of 388,388 shares. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 21.16 and a beta of 1.54. The company’s 50-day moving average price is $50.96 and its 200 day moving average price is $49.93. Phillips 66 Partners has a 12-month low of $42.47 and a 12-month high of $58.00.
Phillips 66 Partners (NYSE:PSXP) last released its earnings results on Friday, October 27th. The oil and gas company reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.08). The firm had revenue of $245.00 million during the quarter, compared to the consensus estimate of $236.18 million. Phillips 66 Partners had a return on equity of 23.01% and a net margin of 45.35%. Phillips 66 Partners’s revenue was up 69.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 EPS. Equities research analysts predict that Phillips 66 Partners will post $2.66 earnings per share for the current fiscal year.
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Several institutional investors have recently modified their holdings of PSXP. Bank of New York Mellon Corp grew its position in Phillips 66 Partners by 408.3% during the 1st quarter. Bank of New York Mellon Corp now owns 23,798 shares of the oil and gas company’s stock worth $1,221,000 after purchasing an additional 19,116 shares during the last quarter. BNP Paribas Arbitrage SA purchased a new stake in Phillips 66 Partners during the 1st quarter worth approximately $159,000. Neuberger Berman Group LLC grew its position in Phillips 66 Partners by 23.9% during the 1st quarter. Neuberger Berman Group LLC now owns 9,877 shares of the oil and gas company’s stock worth $507,000 after purchasing an additional 1,903 shares during the last quarter. Alliancebernstein L.P. grew its position in Phillips 66 Partners by 40.6% during the 1st quarter. Alliancebernstein L.P. now owns 10,572 shares of the oil and gas company’s stock worth $543,000 after purchasing an additional 3,052 shares during the last quarter. Finally, OppenheimerFunds Inc. grew its position in Phillips 66 Partners by 9.8% during the 1st quarter. OppenheimerFunds Inc. now owns 22,360 shares of the oil and gas company’s stock worth $1,148,000 after purchasing an additional 1,990 shares during the last quarter. 43.05% of the stock is currently owned by hedge funds and other institutional investors.
Phillips 66 Partners Company Profile
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