Phillips 66 Partners LP (NYSE:PSXP) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Other equities research analysts have also issued research reports about the stock. Stifel Nicolaus set a $63.00 price target on shares of Phillips 66 Partners and gave the company a “buy” rating in a report on Saturday, June 24th. Goldman Sachs Group, Inc. (The) upgraded shares of Phillips 66 Partners from a “sell” rating to a “neutral” rating and set a $59.00 price objective for the company in a research note on Tuesday. Jefferies Group LLC reiterated a “hold” rating and set a $51.00 price objective on shares of Phillips 66 Partners in a research note on Monday. Citigroup Inc. reduced their price objective on shares of 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, Scotiabank set a $61.00 price objective on shares of Phillips 66 Partners and gave the stock a “buy” rating in a research note on Friday, July 21st. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Phillips 66 Partners has an average rating of “Buy” and an average price target of $59.86.

Phillips 66 Partners (PSXP) opened at 51.45 on Wednesday. The firm’s 50 day moving average is $50.61 and its 200-day moving average is $50.02. The company has a market cap of $5.69 billion, a P/E ratio of 21.22 and a beta of 1.54. Phillips 66 Partners 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 results on Tuesday, August 1st. The oil and gas company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.11). Phillips 66 Partners had a net margin of 45.35% and a return on equity of 23.01%. The business had revenue of $234.00 million during the quarter, compared to the consensus estimate of $235.69 million. During the same quarter in the prior year, the firm posted $0.60 EPS. The company’s revenue for the quarter was up .0% compared to the same quarter last year. On average, analysts predict that Phillips 66 Partners will post $2.65 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of PSXP. Bank of New York Mellon Corp raised its stake in shares of Phillips 66 Partners by 408.3% during the 1st quarter. Bank of New York Mellon Corp now owns 23,798 shares of the oil and gas company’s stock worth $1,221,000 after acquiring an additional 19,116 shares in the last quarter. BNP Paribas Arbitrage SA bought a new position in shares of Phillips 66 Partners during the 1st quarter worth approximately $159,000. Neuberger Berman Group LLC raised its stake in shares of Phillips 66 Partners by 23.9% during the 1st quarter. Neuberger Berman Group LLC now owns 9,877 shares of the oil and gas company’s stock worth $507,000 after acquiring an additional 1,903 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Phillips 66 Partners by 40.6% during the 1st quarter. Alliancebernstein L.P. now owns 10,572 shares of the oil and gas company’s stock worth $543,000 after acquiring an additional 3,052 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its stake in shares of Phillips 66 Partners by 9.8% during the 1st quarter. OppenheimerFunds Inc. now owns 22,360 shares of the oil and gas company’s stock worth $1,148,000 after acquiring an additional 1,990 shares in the last quarter. Hedge funds and other institutional investors own 43.02% of the company’s stock.

Phillips 66 Partners Company Profile

Analyst Recommendations for Phillips 66 Partners (NYSE:PSXP)

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