Botty Investors LLC boosted its stake in Phillips 66 Partners LP (NYSE:PSXP) by 836.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,016 shares of the oil and gas company’s stock after buying an additional 8,053 shares during the period. Botty Investors LLC’s holdings in Phillips 66 Partners were worth $446,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its stake in shares of Phillips 66 Partners by 1.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,222 shares of the oil and gas company’s stock valued at $268,000 after buying an additional 62 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Phillips 66 Partners by 1.3% in the second quarter. Parkside Financial Bank & Trust now owns 25,245 shares of the oil and gas company’s stock valued at $1,248,000 after buying an additional 330 shares in the last quarter. Diversified Trust Co raised its stake in shares of Phillips 66 Partners by 1.6% in the second quarter. Diversified Trust Co now owns 24,029 shares of the oil and gas company’s stock valued at $1,188,000 after buying an additional 382 shares in the last quarter. Keybank National Association OH raised its stake in shares of Phillips 66 Partners by 9.0% in the first quarter. Keybank National Association OH now owns 4,820 shares of the oil and gas company’s stock valued at $248,000 after buying an additional 400 shares in the last quarter. Finally, Conning Inc. raised its stake in shares of Phillips 66 Partners by 1.4% in the second quarter. Conning Inc. now owns 44,744 shares of the oil and gas company’s stock valued at $2,211,000 after buying an additional 610 shares in the last quarter. 42.22% of the stock is currently owned by institutional investors.

Phillips 66 Partners LP (PSXP) opened at 46.05 on Wednesday. The firm has a 50-day moving average price of $49.33 and a 200 day moving average price of $51.42. Phillips 66 Partners LP has a 12 month low of $42.47 and a 12 month high of $58.00. The company has a market cap of $5.09 billion, a P/E ratio of 18.99 and a beta of 1.51.

Phillips 66 Partners (NYSE:PSXP) last issued its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.72 by $0.11. The company had revenue of $234 million for the quarter, compared to analyst estimates of $235.69 million. Phillips 66 Partners had a return on equity of 23.01% and a net margin of 45.35%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 EPS. On average, equities analysts expect that Phillips 66 Partners LP will post $2.66 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Monday, July 31st were given a dividend of $0.615 per share. The ex-dividend date was Thursday, July 27th. This represents a $2.46 dividend on an annualized basis and a yield of 5.34%. This is an increase from Phillips 66 Partners’s previous quarterly dividend of $0.59. Phillips 66 Partners’s dividend payout ratio is currently 101.23%.

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PSXP has been the topic of several recent analyst reports. BidaskClub lowered Phillips 66 Partners from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 15th. Stifel Nicolaus set a $63.00 price target on Phillips 66 Partners and gave the company a “buy” rating in a research note on Saturday, June 24th. Citigroup Inc. decreased their price target on Phillips 66 Partners from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, July 17th. Barclays PLC raised Phillips 66 Partners from an “equal weight” rating to an “overweight” rating and set a $61.00 price target on the stock in a research note on Tuesday, July 18th. Finally, Scotiabank set a $61.00 price target on Phillips 66 Partners and gave the company a “buy” rating in a research note on Friday, July 21st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $56.44.

About Phillips 66 Partners

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Institutional Ownership by Quarter for Phillips 66 Partners (NYSE:PSXP)

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