Phillips 66 Partners LP (PSXP) Holdings Reduced by Wells Fargo & Company MN

Wells Fargo & Company MN trimmed its position in shares of Phillips 66 Partners LP (NYSE:PSXP) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 260,275 shares of the oil and gas company’s stock after selling 3,746 shares during the quarter. Wells Fargo & Company MN owned 0.21% of Phillips 66 Partners worth $13,679,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PSXP. The Manufacturers Life Insurance Company boosted its stake in shares of Phillips 66 Partners by 7.5% during the second 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 period. Beaumont Financial Partners LLC purchased a new stake in shares of Phillips 66 Partners during the second quarter valued at $217,000. Johnson Financial Group LLC purchased a new stake in shares of Phillips 66 Partners during the third quarter valued at $217,000. Keybank National Association OH boosted its stake in shares of Phillips 66 Partners by 5.9% during the second 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 period. Finally, ELCO Management Co. LLC boosted its stake in shares of Phillips 66 Partners by 5.1% during the second quarter. ELCO Management Co. LLC now owns 6,235 shares of the oil and gas company’s stock valued at $308,000 after purchasing an additional 305 shares during the period. 37.17% of the stock is owned by institutional investors.

PSXP has been the subject of several recent research reports. Royal Bank of Canada restated a “buy” rating and issued a $63.00 price objective on shares of Phillips 66 Partners in a report on Tuesday, October 3rd. Mizuho set a $59.00 price objective on Phillips 66 Partners and gave the company a “buy” rating in a report on Sunday, October 29th. Scotiabank restated a “buy” rating and issued a $61.00 price objective on shares of Phillips 66 Partners in a report on Wednesday, October 25th. BidaskClub upgraded Phillips 66 Partners from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Finally, Morgan Stanley restated an “overweight” rating on shares of Phillips 66 Partners in a report on Tuesday, September 5th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Phillips 66 Partners presently has a consensus rating of “Buy” and a consensus target price of $59.00.

Shares of Phillips 66 Partners LP (NYSE PSXP) opened at $52.04 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.64 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $6,330.00, a PE ratio of 22.05, a P/E/G ratio of 1.65 and a beta of 1.47. Phillips 66 Partners LP has a fifty-two week low of $44.40 and a fifty-two week high of $58.00.

Phillips 66 Partners (NYSE:PSXP) last released its quarterly earnings data on Friday, October 27th. The oil and gas company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.08). The firm had revenue of $245.00 million during the quarter, compared to the consensus estimate of $236.18 million. Phillips 66 Partners had a net margin of 42.19% and a return on equity of 23.56%. The business’s revenue was up 69.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.57 earnings per share. research analysts anticipate that Phillips 66 Partners LP will post 2.58 EPS for the current fiscal year.

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Phillips 66 Partners Profile

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

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