Phillips 66 Partners (NYSE:PSXP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

According to Zacks, “Phillips 66 Partners L.P is a downstream energy company. It operates in three segments: Refining and Marketing, Midstream and Chemicals. Refining and Marketing segment purchases, refines, markets and transports crude oil and petroleum products primarily in the United States, Europe and Asia. This segment also includes power generation operations. Midstream segment gathers, processes, transports and markets natural gas and transports, fractionates and markets natural gas liquids primarily in the United States. Chemicals segment manufactures and markets petrochemicals and plastics. Phillips 66 Partners L.P is headquartered in Houston, Texas. “

Other analysts have also recently issued research reports about the stock. Barclays cut their target price on shares of Phillips 66 Partners from $59.00 to $56.00 and set an “equal weight” rating for the company in a research note on Monday, February 5th. BidaskClub raised shares of Phillips 66 Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Jefferies Group reissued a “hold” rating and set a $51.00 target price on shares of Phillips 66 Partners in a research note on Monday, October 16th. Goldman Sachs Group raised shares of Phillips 66 Partners from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Monday, December 18th. Finally, Citigroup boosted their target price on shares of Phillips 66 Partners from $60.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $58.20.

Phillips 66 Partners (PSXP) opened at $50.29 on Tuesday. Phillips 66 Partners has a fifty-two week low of $44.40 and a fifty-two week high of $57.61. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.64 and a quick ratio of 0.56. The firm has a market cap of $5,988.64, a price-to-earnings ratio of 19.72, a price-to-earnings-growth ratio of 1.30 and a beta of 1.39.

Phillips 66 Partners (NYSE:PSXP) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.04). The firm had revenue of $331.00 million during the quarter, compared to analysts’ expectations of $316.00 million. Phillips 66 Partners had a net margin of 44.16% and a return on equity of 26.73%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 EPS. equities research analysts expect that Phillips 66 Partners will post 3.15 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its holdings in Phillips 66 Partners by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,342 shares of the oil and gas company’s stock valued at $165,000 after purchasing an additional 234 shares during the last quarter. Johnson Financial Group LLC acquired a new position in Phillips 66 Partners in the 3rd quarter valued at about $217,000. Signature Financial Management Inc. boosted its holdings in Phillips 66 Partners by 34.1% in the 3rd quarter. Signature Financial Management Inc. now owns 5,500 shares of the oil and gas company’s stock valued at $289,000 after purchasing an additional 1,400 shares during the last quarter. RiverPoint Capital Management LLC acquired a new position in Phillips 66 Partners in the 4th quarter valued at about $314,000. Finally, Keybank National Association OH boosted its holdings in Phillips 66 Partners by 71.1% in the 3rd quarter. Keybank National Association OH now owns 8,735 shares of the oil and gas company’s stock valued at $459,000 after purchasing an additional 3,630 shares during the last quarter. Hedge funds and other institutional investors own 36.89% of the company’s stock.

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Phillips 66 Partners Company Profile

Phillips 66 Partners LP (Phillips 66) owns, operates, develops and acquires fee-based crude oil, refined petroleum product and natural gas liquids (NGL) pipelines, terminals and other transportation and midstream assets. The Company’s assets consist of systems, such as Clifton Ridge Crude System, Eagle Ford Gathering System, Ponca Crude System, Billings Crude System, Borger Crude System, Sweeny to Pasadena Products System, Hartford Connector Products System, Gold Line Products System, Cross-Channel Connector Products System, Ponca Products System, Billings Products System, Bayway Products System, Standish Pipeline, Borger Products System, River Parish NGL System, Medford Spheres, Bayway Rail Rack, Ferndale Rail Rack, Sand Hills/Southern Hills Joint Ventures, Explorer Pipeline Joint Venture, Bakken Joint Ventures, Bayou Bridge Pipeline Joint Venture, STACK Pipeline Joint Venture, and Sweeny Fractionator and Clemens Caverns.

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Analyst Recommendations for Phillips 66 Partners (NYSE:PSXP)

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