BidaskClub upgraded shares of Phillips 66 Partners LP (NYSE:PSXP) from a strong sell rating to a sell rating in a research note issued to investors on Friday.

PSXP has been the subject of a number of other research reports. Barclays PLC upgraded shares of Phillips 66 Partners from an equal weight rating to an overweight rating and set a $61.00 price objective for the company in a report on Tuesday, July 18th. Stifel Nicolaus set a $63.00 price objective on shares of Phillips 66 Partners and gave the company a buy rating in a report on Saturday, June 24th. Citigroup Inc. dropped their price objective on shares of Phillips 66 Partners from $63.00 to $60.00 and set a buy rating for the company in a report on Monday, July 17th. Finally, Scotiabank set a $61.00 price objective on shares of Phillips 66 Partners and gave the company a buy rating in a report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $56.44.

Phillips 66 Partners (NYSE:PSXP) opened at 46.70 on Friday. The firm has a 50-day moving average of $48.62 and a 200 day moving average of $50.92. Phillips 66 Partners has a 52-week low of $42.47 and a 52-week high of $58.00. The company has a market cap of $5.16 billion, a PE ratio of 19.26 and a beta of 1.51.

Phillips 66 Partners (NYSE:PSXP) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by $0.11. The business had revenue of $234 million during the quarter, compared to the consensus estimate of $235.69 million. Phillips 66 Partners had a net margin of 45.35% and a return on equity of 23.01%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter last year, the business earned $0.60 EPS. Equities research analysts expect that Phillips 66 Partners will post $2.65 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Monday, July 31st were given a dividend of $0.615 per share. This is an increase from Phillips 66 Partners’s previous quarterly dividend of $0.59. The ex-dividend date was Thursday, July 27th. This represents a $2.46 annualized dividend and a dividend yield of 5.27%. Phillips 66 Partners’s dividend payout ratio (DPR) is 101.23%.

Hedge funds have recently bought and sold shares of the stock. Tortoise Capital Advisors L.L.C. increased its stake in Phillips 66 Partners by 0.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 8,034,708 shares of the oil and gas company’s stock valued at $397,075,000 after buying an additional 58,854 shares during the last quarter. Alps Advisors Inc. increased its stake in Phillips 66 Partners by 5.4% in the second quarter. Alps Advisors Inc. now owns 3,210,291 shares of the oil and gas company’s stock valued at $158,653,000 after buying an additional 163,520 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its stake in Phillips 66 Partners by 12.7% in the first quarter. Kayne Anderson Capital Advisors LP now owns 2,448,247 shares of the oil and gas company’s stock valued at $125,701,000 after buying an additional 275,500 shares during the last quarter. Westwood Holdings Group Inc. increased its stake in Phillips 66 Partners by 0.6% in the second quarter. Westwood Holdings Group Inc. now owns 1,165,211 shares of the oil and gas company’s stock valued at $57,585,000 after buying an additional 7,104 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Phillips 66 Partners by 3.6% in the first quarter. JPMorgan Chase & Co. now owns 746,582 shares of the oil and gas company’s stock valued at $38,337,000 after buying an additional 26,058 shares during the last quarter. 43.00% of the stock is owned by institutional investors and hedge funds.

About Phillips 66 Partners

Analyst Recommendations for Phillips 66 Partners (NYSE:PSXP)

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