Williams Jones & Associates LLC lowered its stake in shares of Phillips 66 Partners LP (NYSE:PSXP) by 7.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,432 shares of the oil and gas company’s stock after selling 3,600 shares during the quarter. Williams Jones & Associates LLC’s holdings in Phillips 66 Partners were worth $2,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. boosted its stake in 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 acquiring an additional 62 shares in the last quarter. Keybank National Association OH lifted its holdings in shares of Phillips 66 Partners by 5.9% during the 2nd quarter. Keybank National Association OH now owns 5,105 shares of the oil and gas company’s stock valued at $252,000 after purchasing an additional 285 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Phillips 66 Partners by 1.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 25,245 shares of the oil and gas company’s stock valued at $1,248,000 after purchasing an additional 330 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of Phillips 66 Partners by 8.2% during the 2nd quarter. Proficio Capital Partners LLC now owns 4,676 shares of the oil and gas company’s stock valued at $231,000 after purchasing an additional 354 shares during the last quarter. Finally, Diversified Trust Co lifted its holdings in shares of Phillips 66 Partners by 1.6% during the 2nd quarter. Diversified Trust Co now owns 24,029 shares of the oil and gas company’s stock valued at $1,188,000 after purchasing an additional 382 shares during the last quarter. 43.02% of the stock is currently owned by institutional investors.

Shares of Phillips 66 Partners LP (NYSE:PSXP) traded down 0.02% during trading on Wednesday, reaching $53.43. The company had a trading volume of 16,179 shares. The firm has a market capitalization of $5.90 billion, a PE ratio of 22.03 and a beta of 1.54. The firm has a 50-day moving average of $48.48 and a 200 day moving average of $49.83. Phillips 66 Partners LP has a 1-year low of $42.47 and a 1-year high of $58.00.

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 for the quarter, missing the consensus estimate of $0.72 by ($0.11). The company had revenue of $234.00 million for the quarter, compared to analysts’ expectations of $235.69 million. Phillips 66 Partners had a return on equity of 23.01% and a net margin of 45.35%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 EPS. Analysts expect that Phillips 66 Partners LP will post $2.64 earnings per share for the current year.

A number of research firms have recently weighed in on PSXP. Morgan Stanley reissued an “overweight” rating on shares of Phillips 66 Partners in a research report on Tuesday, September 5th. BidaskClub raised Phillips 66 Partners from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 24th. 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. Citigroup Inc. decreased their price target 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. Finally, Barclays PLC upgraded Phillips 66 Partners from an “equal weight” rating to an “overweight” rating and set a $61.00 price target for the company in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $57.00.

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About Phillips 66 Partners

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

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