Russell Investments Group Ltd. Boosts Position in Phillips 66 Partners LP (PSXP)
Russell Investments Group Ltd. boosted its stake in shares of Phillips 66 Partners LP (NYSE:PSXP) by 14.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 78,772 shares of the oil and gas company’s stock after buying an additional 10,129 shares during the period. Russell Investments Group Ltd. owned 0.07% of Phillips 66 Partners worth $3,893,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning increased its position in Phillips 66 Partners by 233.1% in the first quarter. Creative Planning now owns 2,861 shares of the oil and gas company’s stock valued at $147,000 after buying an additional 2,002 shares during the period. BNP Paribas Arbitrage SA purchased a new position in Phillips 66 Partners during the first quarter valued at $159,000. Investment House LLC purchased a new position in Phillips 66 Partners during the first quarter valued at $200,000. Homrich & Berg purchased a new position in Phillips 66 Partners during the first quarter valued at $232,000. Finally, Keybank National Association OH increased its position in Phillips 66 Partners by 9.0% in the first quarter. Keybank National Association OH now owns 4,820 shares of the oil and gas company’s stock valued at $248,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 42.22% of the company’s stock.
Phillips 66 Partners LP (NYSE:PSXP) traded up 0.79% during midday trading on Friday, hitting $46.98. The company had a trading volume of 180,032 shares. The stock’s 50-day moving average price is $48.62 and its 200-day moving average price is $50.92. The stock has a market cap of $5.19 billion, a PE ratio of 19.37 and a beta of 1.51. Phillips 66 Partners LP has a 52-week low of $42.47 and a 52-week high of $58.00.
Phillips 66 Partners (NYSE:PSXP) last posted its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by $0.11. Phillips 66 Partners had a return on equity of 23.01% and a net margin of 45.35%. The firm had revenue of $234 million during the quarter, compared to analyst estimates of $235.69 million. During the same period in the prior year, the business posted $0.60 EPS. The company’s revenue for the quarter was up .0% on a year-over-year basis. On average, equities research analysts expect that Phillips 66 Partners LP will post $2.65 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Monday, July 31st were paid a $0.615 dividend. This is a positive change from Phillips 66 Partners’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $2.46 dividend on an annualized basis and a yield of 5.24%. Phillips 66 Partners’s dividend payout ratio (DPR) is currently 101.23%.
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PSXP has been the topic of several research reports. Stifel Nicolaus restated a “buy” rating and issued a $63.00 target price on shares of Phillips 66 Partners in a research report on Friday, July 28th. Scotiabank set a $61.00 price target on Phillips 66 Partners and gave the company a “buy” rating in a report on Friday, July 21st. Citigroup Inc. cut their price target on Phillips 66 Partners from $63.00 to $60.00 and set a “buy” rating for the company in a report on Monday, July 17th. BidaskClub raised Phillips 66 Partners from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Barclays PLC raised Phillips 66 Partners from an “equal weight” rating to an “overweight” rating and set a $61.00 price target for the company in a report on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. Phillips 66 Partners currently has a consensus rating of “Buy” and an average price target of $56.44.
Phillips 66 Partners Company Profile
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