Equities researchers at Bank of America started coverage on shares of Phillips 66 Partners (NYSE:PSXP) in a research report issued on Tuesday, The Fly reports. The firm set a “neutral” rating on the oil and gas company’s stock.
Several other research firms have also recently issued reports on PSXP. Goldman Sachs Group raised Phillips 66 Partners from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Monday, December 18th. Credit Suisse Group initiated coverage on Phillips 66 Partners in a research note on Thursday, January 4th. They set a “neutral” rating and a $52.00 target price on the stock. Royal Bank of Canada reaffirmed a “buy” rating and issued a $63.00 price target on shares of Phillips 66 Partners in a research note on Tuesday, October 3rd. BidaskClub raised Phillips 66 Partners from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Finally, Stifel Nicolaus reduced 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, October 30th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $58.30.
Phillips 66 Partners (NYSE:PSXP) opened at $54.09 on Tuesday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.56 and a current ratio of 0.64. Phillips 66 Partners has a 12 month low of $44.40 and a 12 month high of $58.00. The stock has a market capitalization of $6,580.00, a P/E ratio of 22.92, a PEG ratio of 1.37 and a beta of 1.47.
A number of hedge funds have recently modified their holdings of PSXP. Alps Advisors Inc. grew its stake in Phillips 66 Partners by 17.7% in the third quarter. Alps Advisors Inc. now owns 3,779,089 shares of the oil and gas company’s stock worth $198,629,000 after purchasing an additional 568,798 shares during the period. RR Advisors LLC bought a new stake in Phillips 66 Partners in the third quarter worth $23,677,000. JPMorgan Chase & Co. boosted its holdings in Phillips 66 Partners by 33.9% in the third quarter. JPMorgan Chase & Co. now owns 851,747 shares of the oil and gas company’s stock worth $44,955,000 after acquiring an additional 215,461 shares in the last quarter. ING Groep NV bought a new stake in Phillips 66 Partners in the third quarter worth $10,880,000. Finally, BP Capital Fund Advisors LLC bought a new stake in Phillips 66 Partners in the second quarter worth $8,908,000. 37.17% of the stock is currently owned by institutional investors.
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About Phillips 66 Partners
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