Shares of Phillips 66 Partners LP (NYSE:PSXP) have been given an average rating of “Buy” by the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $57.13.
PSXP has been the topic of a number of recent research reports. BidaskClub raised Phillips 66 Partners from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Stifel Nicolaus reissued a “buy” rating and issued a $63.00 target price on shares of Phillips 66 Partners in a report on Friday, July 28th. Scotiabank set a $61.00 target price on Phillips 66 Partners and gave the company a “buy” rating in a report on Friday, July 21st. Citigroup Inc. lowered their target price on Phillips 66 Partners from $63.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, July 17th. Finally, Barclays PLC raised Phillips 66 Partners from an “equal weight” rating to an “overweight” rating and set a $61.00 target price on the stock in a report on Tuesday, July 18th.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. increased its position in Phillips 66 Partners by 28.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 7,526 shares of the oil and gas company’s stock valued at $372,000 after buying an additional 1,659 shares during the period. Keybank National Association OH increased its position in Phillips 66 Partners by 5.9% in the second quarter. Keybank National Association OH now owns 5,105 shares of the oil and gas company’s stock valued at $252,000 after buying an additional 285 shares during the period. Neuberger Berman Group LLC increased its position in Phillips 66 Partners by 13.4% in the second quarter. Neuberger Berman Group LLC now owns 11,205 shares of the oil and gas company’s stock valued at $554,000 after buying an additional 1,328 shares during the period. Blair William & Co. IL increased its position in Phillips 66 Partners by 8.2% in the second quarter. Blair William & Co. IL now owns 60,698 shares of the oil and gas company’s stock valued at $3,000,000 after buying an additional 4,600 shares during the period. Finally, Texas Yale Capital Corp. increased its position in Phillips 66 Partners by 0.7% in the second quarter. Texas Yale Capital Corp. now owns 57,931 shares of the oil and gas company’s stock valued at $2,863,000 after buying an additional 415 shares during the period. 42.14% of the stock is currently owned by hedge funds and other institutional investors.
Phillips 66 Partners (PSXP) traded up 0.51% during trading on Friday, reaching $47.65. 166,437 shares of the company’s stock were exchanged. The stock has a market cap of $5.27 billion, a PE ratio of 19.65 and a beta of 1.51. Phillips 66 Partners has a 12 month low of $42.47 and a 12 month high of $58.00. The firm has a 50 day moving average of $49.34 and a 200-day moving average of $51.77.
Phillips 66 Partners (NYSE:PSXP) last released its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.72 by $0.11. Phillips 66 Partners had a net margin of 45.35% and a return on equity of 23.01%. The business had revenue of $234 million for the quarter, compared to analysts’ expectations of $235.69 million. During the same period last year, the business earned $0.60 earnings per share. The company’s quarterly revenue was up .0% on a year-over-year basis. On average, equities research analysts anticipate that Phillips 66 Partners will post $2.66 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Shareholders of record on Monday, July 31st will be issued a $0.615 dividend. This is an increase from Phillips 66 Partners’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, July 27th. This represents a $2.46 dividend on an annualized basis and a yield of 5.19%. Phillips 66 Partners’s dividend payout ratio is currently 101.23%.
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Phillips 66 Partners Company Profile
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