Cypress Wealth Advisors LLC purchased a new stake in Phillips 66 Partners LP (NYSE:PSXP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 27,800 shares of the oil and gas company’s stock, valued at approximately $1,455,000. Phillips 66 Partners makes up 1.4% of Cypress Wealth Advisors LLC’s holdings, making the stock its 26th biggest holding.
Several other institutional investors have also bought and sold shares of PSXP. Atlantic Trust Group LLC boosted its position in Phillips 66 Partners by 71.0% during the third quarter. Atlantic Trust Group LLC now owns 149,940 shares of the oil and gas company’s stock worth $7,882,000 after purchasing an additional 62,279 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Phillips 66 Partners by 2.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 90,245 shares of the oil and gas company’s stock worth $4,724,000 after purchasing an additional 1,815 shares in the last quarter. California Public Employees Retirement System boosted its position in Phillips 66 Partners by 2.9% during the third quarter. California Public Employees Retirement System now owns 86,116 shares of the oil and gas company’s stock worth $4,526,000 after purchasing an additional 2,416 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Phillips 66 Partners by 48.8% during the third quarter. BNP Paribas Arbitrage SA now owns 10,860 shares of the oil and gas company’s stock worth $571,000 after purchasing an additional 3,560 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Phillips 66 Partners by 33.9% in the third quarter. JPMorgan Chase & Co. now owns 851,747 shares of the oil and gas company’s stock worth $44,955,000 after acquiring an additional 215,461 shares during the last quarter. Hedge funds and other institutional investors own 41.14% of the company’s stock.
Shares of Phillips 66 Partners stock opened at $48.67 on Thursday. Phillips 66 Partners LP has a one year low of $44.40 and a one year high of $56.48. The stock has a market capitalization of $5,764.94, a P/E ratio of 19.09, a price-to-earnings-growth ratio of 1.63 and a beta of 1.41. The company has a current ratio of 1.71, a quick ratio of 1.64 and a debt-to-equity ratio of 2.06.
Phillips 66 Partners (NYSE:PSXP) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $0.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.04). The firm had revenue of $331.00 million for the quarter, compared to analyst estimates of $316.00 million. Phillips 66 Partners had a net margin of 44.16% and a return on equity of 27.99%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.65 EPS. equities research analysts expect that Phillips 66 Partners LP will post 3.24 EPS for the current fiscal year.
A number of equities analysts have recently weighed in on PSXP shares. Stifel Nicolaus reissued a “buy” rating and issued a $62.00 price target (up from $59.00) on shares of Phillips 66 Partners in a report on Sunday, February 4th. Scotiabank reiterated a “buy” rating and issued a $60.00 target price on shares of Phillips 66 Partners in a research note on Monday, January 29th. Goldman Sachs upgraded Phillips 66 Partners from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Monday, December 18th. Barclays dropped their price target on Phillips 66 Partners from $59.00 to $56.00 and set an “equal weight” rating for the company in a research note on Monday, February 5th. Finally, Morgan Stanley lowered Phillips 66 Partners from an “overweight” rating to an “equal weight” rating in a research note on Thursday, January 11th. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Phillips 66 Partners presently has an average rating of “Buy” and a consensus target price of $58.45.
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About Phillips 66 Partners
Phillips 66 Partners LP (Phillips 66) owns, operates, develops and acquires fee-based crude oil, refined petroleum product and natural gas liquids (NGL) pipelines, terminals and other transportation and midstream assets. The Company’s assets consist of systems, such as Clifton Ridge Crude System, Eagle Ford Gathering System, Ponca Crude System, Billings Crude System, Borger Crude System, Sweeny to Pasadena Products System, Hartford Connector Products System, Gold Line Products System, Cross-Channel Connector Products System, Ponca Products System, Billings Products System, Bayway Products System, Standish Pipeline, Borger Products System, River Parish NGL System, Medford Spheres, Bayway Rail Rack, Ferndale Rail Rack, Sand Hills/Southern Hills Joint Ventures, Explorer Pipeline Joint Venture, Bakken Joint Ventures, Bayou Bridge Pipeline Joint Venture, STACK Pipeline Joint Venture, and Sweeny Fractionator and Clemens Caverns.
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