Phillips 66 Partners LP (NYSE:PSXP) Director Phillip David Bairrington bought 613 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average cost of $52.11 per share, for a total transaction of $31,943.43. Following the completion of the acquisition, the director now owns 10,626 shares of the company’s stock, valued at $553,720.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

PSXP traded up $0.31 during trading on Tuesday, reaching $52.07. The company had a trading volume of 286,569 shares, compared to its average volume of 339,937. The company has a 50-day moving average of $51.25. The firm has a market capitalization of $6.54 billion, a P/E ratio of 13.02, a price-to-earnings-growth ratio of 2.90 and a beta of 1.00. Phillips 66 Partners LP has a 12-month low of $40.76 and a 12-month high of $55.02. The company has a current ratio of 0.76, a quick ratio of 0.72 and a debt-to-equity ratio of 1.88.

Phillips 66 Partners (NYSE:PSXP) last issued its quarterly earnings results on Friday, July 26th. The oil and gas company reported $1.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.02. The firm had revenue of $401.00 million for the quarter, compared to analysts’ expectations of $393.61 million. Phillips 66 Partners had a return on equity of 48.70% and a net margin of 54.28%. Phillips 66 Partners’s revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the business posted $0.87 EPS. Analysts anticipate that Phillips 66 Partners LP will post 4.42 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 13th. Investors of record on Wednesday, July 31st will be paid a $0.855 dividend. The ex-dividend date is Tuesday, July 30th. This represents a $3.42 dividend on an annualized basis and a yield of 6.57%. This is a boost from Phillips 66 Partners’s previous quarterly dividend of $0.85. Phillips 66 Partners’s dividend payout ratio (DPR) is currently 85.50%.

Institutional investors and hedge funds have recently modified their holdings of the stock. Virtus ETF Advisers LLC acquired a new stake in Phillips 66 Partners in the 2nd quarter worth approximately $2,333,000. United Capital Financial Advisers LLC acquired a new stake in Phillips 66 Partners in the 2nd quarter worth approximately $314,000. Icon Wealth Partners LLC lifted its holdings in Phillips 66 Partners by 8.4% in the 2nd quarter. Icon Wealth Partners LLC now owns 7,560 shares of the oil and gas company’s stock worth $373,000 after purchasing an additional 583 shares during the last quarter. Glen Harbor Capital Management LLC lifted its holdings in Phillips 66 Partners by 41.8% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 4,448 shares of the oil and gas company’s stock worth $219,000 after purchasing an additional 1,312 shares during the last quarter. Finally, Tyers Asset Management LLC lifted its holdings in Phillips 66 Partners by 41.8% in the 2nd quarter. Tyers Asset Management LLC now owns 6,116 shares of the oil and gas company’s stock worth $302,000 after purchasing an additional 1,804 shares during the last quarter. 43.17% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently issued reports on PSXP. ValuEngine lowered Phillips 66 Partners from a “hold” rating to a “sell” rating in a report on Friday, June 28th. Mitsubishi UFJ Financial Group dropped their price target on Phillips 66 Partners to $58.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Zacks Investment Research raised Phillips 66 Partners from a “sell” rating to a “hold” rating and set a $54.00 price target on the stock in a research note on Tuesday, July 16th. Mizuho initiated coverage on Phillips 66 Partners in a research note on Wednesday, June 5th. They issued a “buy” rating and a $56.00 price target on the stock. Finally, Bank of America raised Phillips 66 Partners from a “neutral” rating to a “buy” rating in a research note on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $56.82.

About Phillips 66 Partners

Phillips 66 Partners LP owns, operates, develops, and acquires crude oil, refined petroleum products, and natural gas liquids (NGL) pipelines, terminals, and other transportation and midstream assets. The company operates pipeline assets in Lake Charles, Sweeny, Wood River, Borger/Ponca City, Billings, and Borger; terminal, rail rack, and storage assets in Louisiana, Texas, New Mexico, Illinois, Missouri, Kansas, Oklahoma, New Jersey, Washington, Wyoming, and Montana; marine assets in Lake Charles, Bayway, and Wood River; and NGL assets in Texas and Louisiana.

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