Wells Fargo & Company MN boosted its stake in shares of Phillips 66 Partners LP (NYSE:PSXP) by 0.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 264,021 shares of the oil and gas company’s stock after purchasing an additional 1,413 shares during the period. Wells Fargo & Company MN owned approximately 0.26% of Phillips 66 Partners worth $13,047,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its stake in Phillips 66 Partners by 408.3% in 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 acquiring an additional 19,116 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new stake in Phillips 66 Partners during the 1st quarter worth about $159,000. Keybank National Association OH lifted its position in Phillips 66 Partners by 9.0% during the 1st quarter. Keybank National Association OH now owns 4,820 shares of the oil and gas company’s stock worth $248,000 after acquiring an additional 400 shares during the period. JPMorgan Chase & Co. lifted its position in Phillips 66 Partners by 3.6% during the 1st quarter. JPMorgan Chase & Co. now owns 746,582 shares of the oil and gas company’s stock worth $38,337,000 after acquiring an additional 26,058 shares during the period. Finally, Stifel Financial Corp lifted its position in Phillips 66 Partners by 182.5% during the 1st quarter. Stifel Financial Corp now owns 39,208 shares of the oil and gas company’s stock worth $2,016,000 after acquiring an additional 25,328 shares during the period. 43.02% of the stock is currently owned by institutional investors.

Several analysts have weighed in on the company. Stifel Nicolaus reiterated a “buy” rating and set a $63.00 price target on shares of Phillips 66 Partners in a research note on Friday, July 28th. Scotiabank set a $61.00 price objective on Phillips 66 Partners and gave the stock a “buy” rating in a research note on Friday, July 21st. Citigroup Inc. reduced their price objective on Phillips 66 Partners from $63.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, July 17th. BidaskClub raised Phillips 66 Partners from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Phillips 66 Partners in a report on Tuesday, September 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $56.25.

Phillips 66 Partners LP (NYSE:PSXP) opened at 52.56 on Monday. Phillips 66 Partners LP has a 1-year low of $42.47 and a 1-year high of $58.00. The firm’s 50 day moving average price is $47.37 and its 200-day moving average price is $49.88. The stock has a market cap of $5.81 billion, a price-to-earnings ratio of 21.67 and a beta of 1.54.

Phillips 66 Partners (NYSE:PSXP) last posted its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.11). The business had revenue of $234.00 million during the quarter, compared to analyst estimates of $235.69 million. Phillips 66 Partners had a net margin of 45.35% and a return on equity of 23.01%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 earnings per share. On average, equities analysts anticipate that Phillips 66 Partners LP will post $2.64 earnings per share for the current year.

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About Phillips 66 Partners

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

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