Phillips 66 Partners LP (PSXP) Rating Increased to Hold at BidaskClub

Phillips 66 Partners LP (NYSE:PSXP) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus dropped their price target on Phillips 66 Partners from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday. Jefferies Group LLC restated a “hold” rating and issued a $51.00 price target on shares of Phillips 66 Partners in a research note on Monday, October 16th. Citigroup Inc. increased their price target on Phillips 66 Partners from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. Barclays PLC dropped their price target on Phillips 66 Partners from $62.00 to $59.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Goldman Sachs Group, Inc. (The) upgraded Phillips 66 Partners from a “sell” rating to a “neutral” rating and set a $59.00 price target on the stock in a research note on Tuesday, October 17th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $59.38.

Phillips 66 Partners (NYSE:PSXP) last posted its quarterly earnings results on Friday, October 27th. The oil and gas company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.08). Phillips 66 Partners had a net margin of 48.53% and a return on equity of 9.19%. The business had revenue of $245.00 million during the quarter, compared to the consensus estimate of $236.18 million. During the same quarter last year, the company posted $0.57 EPS. The firm’s revenue was up 69.8% on a year-over-year basis.

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A number of hedge funds have recently bought and sold shares of PSXP. Bank of America Corp DE increased its position in 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 worth $24,184,000 after buying an additional 237,972 shares during the period. BP Capital Fund Advisors LLC bought a new position in Phillips 66 Partners during the 2nd quarter worth $8,908,000. Miller Howard Investments Inc. NY increased its position in 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 worth $25,597,000 after buying an additional 167,049 shares during the period. Alps Advisors Inc. increased its position in Phillips 66 Partners by 5.4% during the 2nd quarter. Alps Advisors Inc. now owns 3,210,291 shares of the oil and gas company’s stock worth $158,653,000 after buying an additional 163,520 shares during the period. Finally, Dividend Assets Capital LLC increased its position in Phillips 66 Partners by 20.6% during the 2nd quarter. Dividend Assets Capital LLC now owns 660,180 shares of the oil and gas company’s stock worth $32,626,000 after buying an additional 112,680 shares during the period. Hedge funds and other institutional investors own 43.07% of the company’s stock.

Phillips 66 Partners Company Profile

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