Royal Bank Of Canada reissued their buy rating on shares of Phillips 66 Partners LP (NYSE:PSXP) in a research report report published on Tuesday. The firm currently has a $63.00 price target on the oil and gas company’s stock.

A number of other equities analysts have also recently issued reports on the stock. Morgan Stanley reiterated an overweight rating on shares of Phillips 66 Partners in a research note on Tuesday, September 5th. BidaskClub upgraded shares of Phillips 66 Partners from a strong sell rating to a sell rating in a research note on Saturday, June 24th. Scotiabank set a $61.00 target price on shares of Phillips 66 Partners and gave the company a buy rating in a research note on Friday, July 21st. Citigroup Inc. lowered their target price on shares of 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. Finally, Barclays PLC upgraded shares of Phillips 66 Partners from an equal weight rating to an overweight rating and set a $61.00 target price on the stock in a research note on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. Phillips 66 Partners has an average rating of Buy and an average price target of $57.75.

Shares of Phillips 66 Partners (PSXP) opened at 52.95 on Tuesday. Phillips 66 Partners has a one year low of $42.47 and a one year high of $58.00. The stock has a 50 day moving average of $49.09 and a 200 day moving average of $49.89. The stock has a market cap of $5.85 billion, a P/E ratio of 21.84 and a beta of 1.54.

Phillips 66 Partners (NYSE:PSXP) last announced 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 firm had revenue of $234.00 million during the quarter, compared to the consensus estimate of $235.69 million. Phillips 66 Partners had a return on equity of 23.01% and a net margin of 45.35%. The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 EPS. On average, analysts forecast that Phillips 66 Partners will post $2.64 EPS for the current year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in PSXP. Global X Management Co. LLC increased its position in shares of Phillips 66 Partners by 3,884.2% during the 1st quarter. Global X Management Co. LLC now owns 323,679 shares of the oil and gas company’s stock valued at $16,621,000 after purchasing an additional 315,555 shares during the last quarter. Brookfield Asset Management Inc. increased its position in shares of Phillips 66 Partners by 93.3% during the 1st quarter. Brookfield Asset Management Inc. now owns 549,600 shares of the oil and gas company’s stock valued at $28,222,000 after purchasing an additional 265,300 shares during the last quarter. Bank of America Corp DE increased its position in shares of Phillips 66 Partners by 102.1% during the 1st quarter. Bank of America Corp DE now owns 470,956 shares of the oil and gas company’s stock valued at $24,184,000 after purchasing an additional 237,972 shares during the last quarter. BP Capital Fund Advisors LLC purchased a new stake in shares of Phillips 66 Partners during the 2nd quarter valued at about $8,908,000. Finally, Miller Howard Investments Inc. NY increased its position in shares of Phillips 66 Partners by 47.6% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 517,942 shares of the oil and gas company’s stock valued at $25,597,000 after purchasing an additional 167,049 shares during the last quarter. 43.02% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Partners Company Profile

Analyst Recommendations for Phillips 66 Partners (NYSE:PSXP)

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